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.