Monthly Payment
$2,040.18
Total Cost
$10,200.89
Total Interest
$200.89
How it works
The Auto Loan Interest Calculator shows the total interest cost, monthly payment, and full amortization schedule for any car loan — given the vehicle price, down payment, trade-in value, APR, and loan term. Use it before visiting a dealership to know exactly what a loan offer costs.
Dealerships are skilled at framing car loans by monthly payment rather than total cost. "Only $450/month" for 72 months on a $25,000 loan at 8% APR costs $32,400 total — $7,400 in interest. The same loan at 5% APR costs $29,000 — a difference of $3,400 just from the interest rate. This calculator makes those comparisons immediate.
How to use it: enter the vehicle price, down payment, trade-in value, loan APR, and loan term (months). The calculator shows: monthly payment, total interest paid, total cost (principal + interest), and a full amortization table showing the principal/interest split and remaining balance each month.
Down payment analysis: the calculator shows how each $1,000 increase in down payment reduces total interest paid. A larger down payment always saves money — it reduces both the principal and the total interest on that principal.
Term comparison: compare 36, 48, 60, and 72-month terms side by side. Longer terms have lower monthly payments but significantly higher total interest. A 72-month loan at 7% APR costs 40% more interest than a 48-month loan on the same principal.
Privacy: auto loan calculations run entirely in the browser.
Frequently Asked Questions
- As of 2024, excellent credit (750+ score) can qualify for 4–6% APR on new cars. Good credit (700–749): 6–8%. Fair credit (650–699): 9–13%. Below 650: 13–20%+. Rates for used cars are typically 1–3% higher than new. Credit union rates are often 1–2% below dealer financing for the same credit score.
- Calculate which saves more: 0% financing means you pay no interest; the cash-back rebate reduces the principal. On a $30,000 loan, a $2,000 cash-back rebate vs. 0% financing for 48 months — calculate the interest cost at your available refinancing rate. If you could otherwise get 5% APR, the 0% option saves approximately $3,200 — more than the $2,000 rebate.
- On a $25,000 loan at 7% APR: 36 months costs $2,784 in interest, 48 months costs $3,717, 60 months costs $4,661, 72 months costs $5,611. Each additional 12 months adds roughly $950 in interest. Longer terms also mean more months of being 'underwater' (owing more than the car is worth).
- Being underwater (or upside-down) means you owe more on the loan than the car is worth. New cars lose 20–25% of value in year 1. A $30,000 car with $2,000 down and a 72-month loan will be underwater for the first 2–3 years. If the car is totaled or you need to sell during this period, you pay the difference out of pocket.
What is a good interest rate for an auto loan?
Should I take the dealer's 0% financing or the cash-back rebate?
How much does the loan term affect the total cost?
What does 'being underwater on a car loan' mean?
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