Estimate your car loan monthly payment, total interest, and full ownership cost instantly. Enter vehicle price, down payment, trade-in value, interest rate, and loan term. Free, private, no registration.
Our free car payment calculator helps you estimate monthly auto loan payments and total ownership costs before visiting a dealership. Simply enter the vehicle price, your down payment or trade-in value, interest rate, and loan term to see exactly what you'll pay each month and over the life of the loan. All calculations happen in your browser — your financial data never leaves your device.
The monthly payment is calculated using the standard loan amortization formula: PMT = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the loan principal (vehicle price minus down payment and trade-in), r is the monthly interest rate, and n is the number of months. Sales tax is added to the vehicle price before calculating the loan.
A down payment reduces your loan amount, which lowers your monthly payment and total interest paid. Experts recommend at least 10-20% down for new cars and 10% for used cars. A larger down payment may also help you qualify for a better interest rate.
As of 2025, average car loan rates range from 5-8% for new cars and 7-11% for used cars, depending on credit score. Excellent credit (750+) may qualify for rates below 5%, while fair credit (580-669) may see rates above 10%.
Absolutely. All calculations happen inside your browser. Nothing leaves your device, and no information is stored or transmitted anywhere.