Auto Loan Calculator (Car Payment)
Auto loan calculator: monthly car payment from price, down payment, APR and term, plus total interest. Or find the price you can afford.
M = (P − D) · r1 − (1 + r)−n
How to use this calculator
- Choose the quantity you want under “Solve for”.
- Type the known values and pick their units: any combination works.
- The result updates as you type. Open “Show the steps” to see the substitution.
The loan is the car price minus your down payment and trade-in; the payment follows the standard amortization formula.
A shorter term raises the monthly payment but cuts total interest.
Estimates for planning only; not financial advice. Your lender’s figures may differ.
Formula
M = (P − D) · r1 − (1 + r)−n
| Symbol | Quantity | Units |
|---|---|---|
| P | Car price | $, €, £ |
| D | Down payment + trade-in | $, €, £ |
| i | Annual interest rate (APR) | %, × |
| t | Loan term | years, months |
| M | Monthly payment | $, €, £ |
Constants used: r = annual rate / 12 · n = months
Worked example
Given: P = 30,000.00 $ · D = 5,000.00 $ · i = 6.9 % · t = 60 months
M = (P − D)r1 − (1 + r)−n
Result: M = 493.85 $
Monthly payment for different values of Car price
| P · Car price | M · Monthly payment |
|---|---|
| 15,000.00 $ | 197.54 $ |
| 22,500.00 $ | 345.70 $ |
| 27,000.00 $ | 434.59 $ |
| 30,000.00 $ | 493.85 $ |
| 33,000.00 $ | 553.11 $ |
| 37,500.00 $ | 642.01 $ |
| 45,000.00 $ | 790.16 $ |
| 60,000.00 $ | 1,086.47 $ |
Other values as in the worked example.
Frequently asked questions
Payment on a $30,000 car with $5,000 down at 6.9 % for 60 months?
About $493.85 per month, $4,631 in total interest.
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