Auto Loan Payment Calculator
What will the monthly payment actually be? Enter the price, down payment, trade-in, and rate to see the payment, the total interest, and how the balance falls year by year.
Your loan at a glance
Yearly amortization
| Year | Payment | Principal | Interest | Balance |
|---|
How it works
The amount financed is the price minus your down payment and trade-in, plus sales tax and fees. That is the number the loan is actually based on — which is why two cars with the same sticker price can have very different payments once tax and fees are added.
The monthly payment comes from standard amortization math: a fixed payment each month, with part going to interest and part to principal. Early on, most of each payment is interest; over time, more goes to principal. The yearly table shows that shift, so you can see how fast the balance actually falls.
A longer term lowers the monthly payment but raises the total interest — sometimes by thousands of dollars. A 72-month loan on the same car can cost far more overall than a 48-month loan, and it keeps you in debt on a car that is steadily losing value.
Frequently asked questions
How is the monthly payment calculated?
It uses the standard amortization formula: the amount financed, the APR, and the number of months. Each month you pay interest on the remaining balance plus a slice of principal, so the payment stays the same while the mix changes.
Does the calculator include sales tax?
Yes. Sales tax is calculated as a percentage of the price and added to the amount financed, since most buyers roll it into the loan. Sales tax varies by state, roughly 0–10%+.
What is the amount financed?
It is the amount you actually borrow: the vehicle price, minus your down payment and trade-in value, plus sales tax and fees.
Why does a longer loan term cost more overall?
You pay interest for more months, and the balance falls more slowly, so interest accrues on a larger balance for longer. The monthly payment drops, but the total interest — and the total cost of the car — goes up.
Should I put more money down or keep the cash?
A bigger down payment lowers your loan, your payment, and your total interest, and it keeps you from owing more than the car is worth. Keep enough cash aside for emergencies and for tax, fees, and insurance, though — a car purchase should not empty your savings.
Is this monthly payment the exact amount I will pay?
It is a close estimate. Your lender's exact payment depends on the final sale price, the fees on the contract, and the rate you actually qualify for.
Recommended resources
Capital One Auto Navigator
Pre-qualify for an auto loan and shop cars with your financing in hand.
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