Does a lower payment always mean a better deal?

Not necessarily—longer terms can lower payment while raising total interest.

Are rates live quotes?

No. Enter a rate from a quote or a scenario you want to test.

Why show an amortization schedule?

It shows how early payments are interest-heavy and how the balance declines.

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Auto Loan Payment & Schedule Calculator

Model a fixed-rate car loan worksheet with amount financed and a full amortization table.

Amount financed

Total interest

Payment schedule

Builds a fixed-rate amortizing auto loan from vehicle price, down payment, trade-in, rate, and term, including a payment-by-payment schedule.

Limitation: Educational estimate only.

Jump to calculator · Sources & review

Free Calculators HubAuto Loan Calculator

CurrencyVehicle priceDown paymentTrade-in allowanceCredit applied before financing; use 0 if none.Fixed annual interest rateNominal rate you assume—not a live lender quote.Term in months

How to Model an Auto Loan

Enter the negotiated price, cash down, trade-in credit, assumed rate, and term.

Enter the vehicle price before financing.

Taxes and fees are separate here

If you need sales tax and dealer fees in the financed amount, use the car payment calculator instead.

What the Auto Loan Result Includes

Amount financed, scheduled payment, total interest, and a period-by-period principal/interest schedule with a cent-adjusted final payment.

Worked Auto Loan Examples

$30,000 car, $5,000 down, $2,000 trade-in at 6% for 60 months

Inputs

vehiclePrice:30000

downPayment:5000

tradeInAllowance:2000

annualRate:6

termMonths:60

Result

444.65 payment

Amount financed is 23,000; scheduled payment rounds to 444.65.

Zero-interest financed balance

Inputs

vehiclePrice:12000

downPayment:2000

tradeInAllowance:0

annualRate:0

termMonths:20

Result

500.00 payment

At 0%, payment equals financed amount divided by term.

Frequently Asked Questions

Related but different. This page focuses on the loan worksheet and full schedule. The car payment tool emphasizes tax, fees, and trade-in in the financed amount.

Still have questions about this calculation?

Try the Calculator

Auto Loan Formulas

Standard fixed-rate amortization with currency rounding each period.

Imperial:For imperial units: price − down payment − trade-in allowance

Formula

price − down payment − trade-in allowance

Amount financed

price − down payment − trade-in allowance

Scheduled payment

P × r ÷ (1 − (1 + r)^−n) for r > 0; else P ÷ n

Scientific Background

Assumptions: fixed rate, monthly payments, fully amortizing loan. Limitations: real contracts may capitalize taxes/fees, use daily interest, or add products. Compare with CFPB auto loan guidance and the Truth in Lending disclosure.

Sources & review

Auto Loan Calculator documents the references behind its formulas and assumptions. Always treat results as educational estimates, not personalized professional advice.

Last reviewed

July 22, 2026

Consumer financial tools
Consumer Financial Protection Bureau (CFPB)
https://www.consumerfinance.gov/ask-cfpb/what-is-amortization-and-how-could-it-affect-my-auto-loan-en-771/
Consumer financial tools
Consumer Financial Protection Bureau (CFPB)
https://www.consumerfinance.gov/consumer-tools/auto-loans/
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