What’s the difference between APR and interest rate?

APR includes certain lender fees; the raw interest rate doesn’t. Compare offers using APR for an apples-to-apples number.

How much down payment should I put?

At minimum, enough to avoid being underwater when you drive off. New cars depreciate 10-20% immediately; 20% down protects you.

Money & Finance · Free tool

Auto Loan Calculator

Estimate your auto loan payment, total interest, and payoff timeline in seconds. Free, mobile-friendly, no signup.

Updated April 2026

Loan amount ($)Annual interest rate (%)Term (years)

Monthly payment

$480.74

Total paid

$34,613.32

Total interest

$6,613.32

What it does

An auto loan calculator that takes three inputs — amount financed, APR, and term — and returns the full cost of the loan, not just the monthly payment. Most dealer conversations happen in monthly-payment terms, which is exactly why long terms get pushed: a “lower” monthly is often a higher total cost.

Run multiple scenarios side by side. Change only the term, or only the APR, to see where the real money is. Most people overpay by thousands because they only asked about the monthly payment.

Example input & output

Input

Amount financed: $28,000
APR: 7.25%
Term: 6 years

Output

Monthly: $479.69
Total paid: $34,538
Total interest: $6,538

Dropping APR by 2 points (to 5.25%) saves $1,867 over the life of the loan.

How to use it

Enter the amount you’re actually financing (price − down payment − trade-in).
Enter the APR, not the “money factor.”
Set the term; longer = lower monthly, more total interest.
Scan both the monthly and the total interest line.

When to use this tool

Any auto purchase where you’ll finance any part of the price.
Comparing refinance offers on an existing auto loan.

When not to use it

Leases — different math.
Promotional 0% APR deals — no interest, but those loans often require taking a higher price; compare the all-in cost.

Common use cases

Shopping pre-approved APRs from 2-3 lenders.
Weighing whether to put more down (less principal = less interest).
Deciding if a higher sticker price with 0% APR beats a lower price at standard APR.

Frequently asked questions

What’s the difference between APR and interest rate?: APR includes certain lender fees; the raw interest rate doesn’t. Compare offers using APR for an apples-to-apples number.
How much down payment should I put?: At minimum, enough to avoid being underwater when you drive off. New cars depreciate 10-20% immediately; 20% down protects you.