Money & Finance · Free tool
Car Loan Calculator
Free car loan calculator. Enter the vehicle price, down payment, APR, and term to see your monthly payment and total interest before signing.
Monthly payment
$701.33
Total paid
$42,079.69
Total interest
$7,079.69
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What it does
A free car loan calculator tuned to the inputs actually printed on a dealer’s financing sheet: vehicle price, APR, and term in years. It returns the monthly payment and — more importantly — the total interest you’ll pay before you own the car. Knowing that number up front is the single best thing you can do to negotiate well.
A $35,000 car loan at 7.5% for 5 years costs $702/month and $7,100 in interest. Stretch that same loan to 7 years and the monthly drops to $538 — but total interest jumps to $10,200. Longer term, lower payment, more total cost. Run both before you sign. Pair with our budget guide.
Example input & output
Input
Price: $35,000
APR: 7.5%
Term: 5 yearsOutput
Monthly: $701.89
Total paid: $42,113
Total interest: $7,113A 7-year term drops the monthly to $538 but raises total interest to $10,185 — $3,072 more.
How to use it
- Enter the vehicle price (after any down payment and trade-in).
- Enter the APR from your lender or pre-approval.
- Enter the term in years — 5 is typical, 6-7 is common but costly.
- Read monthly payment and total interest; compare across terms.
When to use this tool
- Any fixed-rate auto loan — new car, used car, refinance quote.
- Before walking into a dealership, so you have a number in your head.
When not to use it
- Leases — those use money factor and residual value, not APR.
- Variable-rate or promotional APR loans where the rate changes mid-term.
Common use cases
- Comparing the dealer’s financing offer vs a credit union pre-approval.
- Deciding between a 60-month and 72-month loan.
- Budgeting a realistic monthly car payment before shopping.
Frequently asked questions
- Should I finance through the dealer or a credit union?
- Credit unions almost always win on APR. Get pre-approved before you walk in; use the dealer’s offer only if they actually beat it.
- Is 7.5% a good auto loan rate?
- Depends on credit tier and year. Excellent credit typically gets rates a few points below average; subprime borrowers pay considerably more. Check current national averages before assuming your rate is good.