The car loan calculator will give you an idea of how much you can afford to pay for your new vehicle, so when you’re at the dealership you can stay under budget. You can begin by checking the prices of vehicles you're interested in, and then plugging in the numbers in the car finance calculator to see if the payment amount works with your monthly budget.
Also, it's important to note that this auto loan calculator doesn’t account for title and registration fees, so your actual cost may be a bit higher than this estimate.
How to use car loan calculator to calculate monthly car payment
Here's a look at the numbers that make up your monthly car payment, that you'll enter in the auto loan calculator below:
Price of the vehicle
The length of time the loan will last
Down payment, or how much you are paying toward the car outside of the loan (20 percent or more is recommended)
Sales tax rate for your state
Interest rate, enter the rate you've qualified for, and if you don't know, you can estimate it, the higher your credit score the lower the interest rate
Once you've got the result, you can click on "Amortization," which will produce a table you can print showing the monthly break-down with payment dates and a monthly balances. Buying a used car? Click on the "See Average Rates for Used Car" banner to see what you can expect to pay for coverage for 4,500 used car models from 2006 to 2017. You can compare up to 10 different vehicles at once.
Disclaimer: Title, registration, other fees, taxes and incentives are not included in this calculation. This is a monthly auto loan payment estimate provided for informational purposes only; this is not a financial offer.
Estimated Payoff Date:
Shopping for a new car also typically means shopping for the best car loan. To help, here we outline steps to take to make sure you get the best deal on car financing, and provide an auto loan calculator so you can estimate monthly payments.