Please tell a friend about us. Thank you.

Visitor: Wow, this auto loan calculator sure has a lot of options.

I just want to know a monthly payment amount. How would I calculate that?

Me: Nothing could be easier.

  • Click clear and enter values for:
    • Amount of Loan
    • Number of Payments
    • Annual Interest Rate
  • Leave Loan Payment Amount set to 0.
  • Click either "Calc" or "Payment Schedule."
  • Finito!

Visitor: Great! I'm outta here!

Me: See ya around. Thanks for stopping by.

For the rest of you, there's a lot more below.»

Need a traditional loan calculator?
Our Loan Calculator solves for one of four unknowns and creates a printable payment schedule as well as several charts.
Will making small, extra payments save me money?
Our Extra Payment Calculator will create an amortization table and show you the interest saved.
Enter "0" (zeros) for any unknown values above.
Enter a "0" (zero) for one unknown value above.

©2016, all rights reserved
$ : mm/dd/yyyy

For "#", type a "U" for "Unknown" to pay until loan is paid off.

  Original Size  

VERY IMPORTANT - You must enter a 0 if you want a value calculated. A few users have wondered why this is. They want to know why the calculator does not just recalculate the last calculation if they change one of the inputs such as the amount of the loan.

This is because we want the calculator to be able to create a payment schedule using whatever inputs you want to use. This behavior is a feature! By not automatically recalculating a payment, this calculator lets those users that do not have a "typical" auto loan create a payment schedule.

ABOUT DATES - This calculator now allows irregular length first periods. That is, the calculator calculates the exact amount of interest due even when the initial period is shorter or longer than the other scheduled periods. This will result in payment amounts as well as interest charges that do not match other calculators. If you want to match other calculators then set the "Loan Date" and "1st Payment Date" so that the time between them equals one full period as set in "Payment Frequency". Example: If the "Loan Date" is May 15th and the "Payment Frequency" is "Monthly," then the "1st Payment Date" should be set to June 15th, that is IF you want a conventional interest calculation. See the end of the "Help" text for some more details.

Of course, you can always leave the dates set as they are when the calculator loads.

An Auto Loan Calculator with a Difference

In spite of the introduction, the ultimate objective of this calculator is to give the user the ability to understand the estimated total cost of owning a car (or any vehicle). The cost of financing is only part of the story. To get a complete picture, one has to also consider sales tax, insurance, maintenance, periodic registration fees and possibly loan application fees or other loan origination charges. This calculator will account for all these potential costs.

auto loan calculator total cost of ownership
This auto loan calculator's total cost of ownership calculation

Related: 3 Easy Ways to Save on Your Next Loan
from The Reading Room

You can use this calculator to answer the following questions:

  • What price car can I afford?
  • How much will my car payment be?
  • What car loan rate do I need?
  • How much to put down on a car?
  • How many months to finance a car?
  • NEW - what is the impact of extra payments?

Related: You may also like the Mortgage Calculator. It calculates a mortgage payment of course but also the estimated appreciated value of the property and the potential income tax benefits of having a mortgage.

This auto loan calculator is not limited to solving car loan problems of course. It can be a useful tool whenever money is borrowed to purchase an item requiring a down payment.

This documentation is far from complete.
Some of you may be wondering about a particular calculated result or how to use a feature. I fully intend to enhance this page with examples and prehaps screen shots. In the mean time, please ask your questions below.

18 thoughts on “auto-loan-calculator

  1. I’m looking for something similar to this – but with interest rate generated automatically (likely based on credit score).

    Is this something you have done or seen?

    • Hi, no, sorry to say, it’s not something I’ve seen. Perhaps it’s available. But even given a specific credit score, the rate would vary from lender to lender, so I imagine a site would have to have connectivity and share data with lenders to auto fill in an interest rate.

  2. Good job.

    Thank you for the site and calculations,
    will be very helpful if you can show the formula on those steps, on how you do weekly, bi-weekly part.

    Thank you

  3. Great calculator, glad i found this. It lets me show my nephew and his wife what happens when you adjust any number…

    • Thank you! I’m happy you found it too. I’m not sure why, but this is one of the least used calculators on this site. It needs some love. 🙂

  4. This would have worked for me if I could enter the date the loan began and the date the payments began. Unfortunately I cannot find a place to enter those things. I tried using the amortization schedule but it will NOT accept weekly payments. Every time I tries to enter the weekly payment it changed it to monthly and the loan cost hundred of thousands of dollars.

    I loved the old program I purchased years ago from you. I wish I could still get it but that computer bit the dust.

    • The amortization schedule does accept weekly payments until you have it set for "Canadian" amortization method. If you do, then please set it to normal and set the compounding to semi-annual and the payment frequency to weekly.

  5. Why can’t I print from this site?

    • I don’t know why you can’t print. I’m assuming you clicked on the "print" button, and didn’t try printing using some other technique?

      What type of device are you using? What browser and version?

      Do you mean you can’t print at all? Or does the calculation print but it’s not clear. I just printed from a desktop using Chrome and it printed, but I see some rather minor alignment problems with this particular calculator.

  6. I’m using this to figure out how long it would take to pay off auto loan debt by increasing my monthly payment. That seems to be a difficult feature to find in an amortization calculator of late. Thank you for your work.

  7. I would like to double-space each line so I can add notes as the payments are made. Is that possible? If not a current feature, can I export this to excel where I could make the changes myself? Thank you. Jim

    • The calculator does not have a setting that will cause the report to double space.

      Also, it’s not possible to "export" to Excel. What you can do is copy/paste to Excel. That works fine. The way to do it is, from the "Print Preview" feature, select the entire schedule, can copy. When pasting to Excel, depending on the browser you are copying from, you may have to use Excel’s "Paste Special" feature. If users want to copy/paste to Excel, then I recommend using Internet Explorer (this is the only time I recommend that browser).

  8. This is really helpful in figuring out how much my extra payments should be to meet a specific target payoff date. Thanks! One question: Would it be difficult to adjust this extra payment feature to accommodate multiple extra payments of different amounts? Or, put another way, could you allow for the application of an end date to the first set of extra payments and create one or more additional sets of extra payments with different amounts and date ranges? For example, I’ll begin making extra payments to the loan in question after an older auto loan is paid off in 10 months, but I’d also like to see the effect of throwing even more extra money at the loan in question after an old credit card balance is paid off in 18 months. Thanks!

    • What you want to do – extra payments with different amounts – can easily be done, just not with this calculator.

      Please use Ultimate Financial Calculator. Once on that page, scroll down the page to the tutorials. Check out tutorial #1 for an overview. Then see tutorial #9 and #10 which deal with random extra payments and a series of extra payments.

      If you have any questions, you can ask them at the bottom of that calculator’s page.

  9. The car loan calculator was very helpful for me to figure out if refinancing for my daughter’s car loan would be worth it. Thanks for sharing this great tool.

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