Auto Loan Calculator
Enter the car price, your down payment, any trade-in and the loan terms to see the monthly payment and total interest.
Your details
Result
Monthly payment
444.65
60 payments · financing 23,000
- Total interest
- 3,679
- Total repaid
- 26,679
- Principal23,000 (86%)
- Interest3,679 (14%)
Good to know: A $30,000 car with $5,000 down and a $2,000 trade-in at 6% over 60 months costs about $444.65 a month.
Please note: Illustrative estimate based only on the numbers you enter. This is not financial, investment, tax or legal advice and not an offer of any product. Real products have fees, rate changes and rules this tool does not model. Check figures with your lender or a qualified, independent adviser before you decide.
About this tool
Work out the monthly payment, total interest and repayment total for car finance from vehicle price, deposit, trade-in value, rate and term.
Formula
amount financed = price − deposit − trade-in. Monthly payment = P × r × (1+r)^n ÷ ((1+r)^n − 1) with r = annual ÷ 12 ÷ 100.
Reference values
- Common terms: 36–72 months
- 20% deposit is a common benchmark
- Longer terms mean more total interest
Questions people ask
Is a longer term better?
It lowers the monthly payment but increases total interest, and you may owe more than the car is worth for longer.
How is the amount financed worked out?
Price minus down payment minus trade-in value.
Does this include sales tax and fees?
No. Add them to the price if they are being financed.
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How we calculate this
We use the standard published formula or definition for this calculation, and we show the working so you can check it.
Spotted a mistake? Tell us and we'll check it. How we check our calculators