Car Loan Payment Calculator
Calculate your car loan payments, interest, and amortization schedule with extra payments, tax, trade-in, and credit score analysis.
Loan Details
Common: 36, 48, 60, 72, 84 months
Results
Monthly Payment
$579.98
Total Interest
$4,798.80
Total Payment
$34,798.80
Payment Schedule (Amortization Table)
| Month | Date | Beginning Balance | Principal | Interest | Total | Balance |
|---|---|---|---|---|---|---|
| 1 | December 1, 2025 | $30,000.00 | $429.98 | $150.00 | $579.98 | $29,570.02 |
| 2 | January 1, 2026 | $29,570.02 | $432.13 | $147.85 | $579.98 | $29,137.88 |
| 3 | February 1, 2026 | $29,137.88 | $434.29 | $145.69 | $579.98 | $28,703.59 |
| 4 | March 1, 2026 | $28,703.59 | $436.47 | $143.52 | $579.98 | $28,267.12 |
| 5 | April 1, 2026 | $28,267.12 | $438.65 | $141.34 | $579.98 | $27,828.47 |
| 6 | May 1, 2026 | $27,828.47 | $440.84 | $139.14 | $579.98 | $27,387.63 |
| 7 | June 1, 2026 | $27,387.63 | $443.05 | $136.94 | $579.98 | $26,944.59 |
| 8 | July 1, 2026 | $26,944.59 | $445.26 | $134.72 | $579.98 | $26,499.32 |
| 9 | August 1, 2026 | $26,499.32 | $447.49 | $132.50 | $579.98 | $26,051.84 |
| 10 | September 1, 2026 | $26,051.84 | $449.72 | $130.26 | $579.98 | $25,602.11 |
| 11 | October 1, 2026 | $25,602.11 | $451.97 | $128.01 | $579.98 | $25,150.14 |
| 12 | November 1, 2026 | $25,150.14 | $454.23 | $125.75 | $579.98 | $24,695.90 |
| 13 | December 1, 2026 | $24,695.90 | $456.50 | $123.48 | $579.98 | $24,239.40 |
| 14 | January 1, 2027 | $24,239.40 | $458.79 | $121.20 | $579.98 | $23,780.61 |
| 15 | February 1, 2027 | $23,780.61 | $461.08 | $118.90 | $579.98 | $23,319.53 |
| 16 | March 1, 2027 | $23,319.53 | $463.39 | $116.60 | $579.98 | $22,856.15 |
| 17 | April 1, 2027 | $22,856.15 | $465.70 | $114.28 | $579.98 | $22,390.44 |
| 18 | May 1, 2027 | $22,390.44 | $468.03 | $111.95 | $579.98 | $21,922.41 |
| 19 | June 1, 2027 | $21,922.41 | $470.37 | $109.61 | $579.98 | $21,452.04 |
| 20 | July 1, 2027 | $21,452.04 | $472.72 | $107.26 | $579.98 | $20,979.32 |
| 21 | August 1, 2027 | $20,979.32 | $475.09 | $104.90 | $579.98 | $20,504.23 |
| 22 | September 1, 2027 | $20,504.23 | $477.46 | $102.52 | $579.98 | $20,026.76 |
| 23 | October 1, 2027 | $20,026.76 | $479.85 | $100.13 | $579.98 | $19,546.91 |
| 24 | November 1, 2027 | $19,546.91 | $482.25 | $97.73 | $579.98 | $19,064.66 |
| 25 | December 1, 2027 | $19,064.66 | $484.66 | $95.32 | $579.98 | $18,580.00 |
| 26 | January 1, 2028 | $18,580.00 | $487.08 | $92.90 | $579.98 | $18,092.92 |
| 27 | February 1, 2028 | $18,092.92 | $489.52 | $90.46 | $579.98 | $17,603.40 |
| 28 | March 1, 2028 | $17,603.40 | $491.97 | $88.02 | $579.98 | $17,111.43 |
| 29 | April 1, 2028 | $17,111.43 | $494.43 | $85.56 | $579.98 | $16,617.01 |
| 30 | May 1, 2028 | $16,617.01 | $496.90 | $83.09 | $579.98 | $16,120.11 |
| 31 | June 1, 2028 | $16,120.11 | $499.38 | $80.60 | $579.98 | $15,620.72 |
| 32 | July 1, 2028 | $15,620.72 | $501.88 | $78.10 | $579.98 | $15,118.84 |
| 33 | August 1, 2028 | $15,118.84 | $504.39 | $75.59 | $579.98 | $14,614.45 |
| 34 | September 1, 2028 | $14,614.45 | $506.91 | $73.07 | $579.98 | $14,107.54 |
| 35 | October 1, 2028 | $14,107.54 | $509.45 | $70.54 | $579.98 | $13,598.10 |
| 36 | November 1, 2028 | $13,598.10 | $511.99 | $67.99 | $579.98 | $13,086.10 |
| 37 | December 1, 2028 | $13,086.10 | $514.55 | $65.43 | $579.98 | $12,571.55 |
| 38 | January 1, 2029 | $12,571.55 | $517.13 | $62.86 | $579.98 | $12,054.42 |
| 39 | February 1, 2029 | $12,054.42 | $519.71 | $60.27 | $579.98 | $11,534.71 |
| 40 | March 1, 2029 | $11,534.71 | $522.31 | $57.67 | $579.98 | $11,012.40 |
| 41 | April 1, 2029 | $11,012.40 | $524.92 | $55.06 | $579.98 | $10,487.48 |
| 42 | May 1, 2029 | $10,487.48 | $527.55 | $52.44 | $579.98 | $9,959.93 |
| 43 | June 1, 2029 | $9,959.93 | $530.18 | $49.80 | $579.98 | $9,429.75 |
| 44 | July 1, 2029 | $9,429.75 | $532.84 | $47.15 | $579.98 | $8,896.91 |
| 45 | August 1, 2029 | $8,896.91 | $535.50 | $44.48 | $579.98 | $8,361.41 |
| 46 | September 1, 2029 | $8,361.41 | $538.18 | $41.81 | $579.98 | $7,823.24 |
| 47 | October 1, 2029 | $7,823.24 | $540.87 | $39.12 | $579.98 | $7,282.37 |
| 48 | November 1, 2029 | $7,282.37 | $543.57 | $36.41 | $579.98 | $6,738.80 |
| 49 | December 1, 2029 | $6,738.80 | $546.29 | $33.69 | $579.98 | $6,192.51 |
| 50 | January 1, 2030 | $6,192.51 | $549.02 | $30.96 | $579.98 | $5,643.48 |
| 51 | February 1, 2030 | $5,643.48 | $551.77 | $28.22 | $579.98 | $5,091.72 |
| 52 | March 1, 2030 | $5,091.72 | $554.53 | $25.46 | $579.98 | $4,537.19 |
| 53 | April 1, 2030 | $4,537.19 | $557.30 | $22.69 | $579.98 | $3,979.89 |
| 54 | May 1, 2030 | $3,979.89 | $560.08 | $19.90 | $579.98 | $3,419.81 |
| 55 | June 1, 2030 | $3,419.81 | $562.89 | $17.10 | $579.98 | $2,856.92 |
| 56 | July 1, 2030 | $2,856.92 | $565.70 | $14.28 | $579.98 | $2,291.22 |
| 57 | August 1, 2030 | $2,291.22 | $568.53 | $11.46 | $579.98 | $1,722.70 |
| 58 | September 1, 2030 | $1,722.70 | $571.37 | $8.61 | $579.98 | $1,151.33 |
| 59 | October 1, 2030 | $1,151.33 | $574.23 | $5.76 | $579.98 | $577.10 |
| 60 | November 1, 2030 | $577.10 | $577.10 | $2.89 | $579.98 | $0.00 |
Car Loan Payment Calculator - Your Complete Guide to Auto Financing
Buying a car is one of the most significant financial decisions most people make. Whether you're purchasing a new sedan for daily commutes or a luxury SUV for family adventures, understanding your car loan payments is crucial to making an informed decision. Our comprehensive car loan payment calculator helps you estimate monthly payments, total interest costs, amortization schedules, and explore various financing scenarios including extra payments, trade-in values, credit score impacts, tax calculations, and early payoff options.
What is a Car Loan Payment Calculator?
A car loan payment calculator is a powerful financial tool that computes your monthly car loan payment based on key parameters: loan amount, annual interest rate, and loan term. It provides a clear breakdown of how much you'll pay each month, how much interest you'll accrue over the life of the loan, and shows a detailed amortization schedule. Our advanced calculator goes beyond basic calculations, offering features for extra payments, trade-in analysis, credit score evaluation, tax calculations, and early payoff scenarios.
Basic Car Loan Payment Calculation
The calculator uses standard loan amortization formulas to determine your payments. Here's what each input means:
- Loan Amount: The total amount you're borrowing (after down payment and trade-in)
- Annual Interest Rate: The yearly interest rate offered by your lender (e.g., 6% = 6)
- Loan Term: The repayment period in months (typically 36, 48, 60, 72, or 84 months)
- Repayment Type: Choose between equal payment (EMI) or equal principal repayment
Car Loan Payment Calculator with Extra Payments
Making extra payments on your car loan can significantly reduce the total interest you pay and shorten your loan term. Our calculator with extra payments feature allows you to see the impact of monthly extra payments or one-time lump sum payments. You can see exactly how much interest you'll save and when your loan will be fully paid off. For example, adding $100 per month to a $30,000 loan at 6% for 60 months can save you over $1,500 in interest and pay off your loan 8 months early.
Car Loan Payment Calculator Early Payoff
The early payoff calculator helps you determine how much you can save by paying off your car loan early. It compares your current payoff schedule with an accelerated payment plan, showing you the time saved and interest savings. This is particularly useful if you receive a bonus, tax refund, or want to make extra payments to reduce your debt faster.
Car Loan Payment Calculator with Credit Score
Your credit score significantly impacts the interest rate you'll receive on your car loan. Our credit score calculator shows suggested interest rates based on your credit score range and compares your current rate with what you could get with better credit. Generally, credit scores above 750 get the best rates (around 4.5%), while scores below 600 may face rates above 12%. Improving your credit score by even 50 points can save thousands in interest over the life of your loan.
Car Loan Payment Calculator with Tax
Sales tax is a significant factor in car purchasing that many buyers overlook. Our car loan payment calculator with tax feature helps you understand the complete cost of your vehicle purchase by including sales tax calculations. Sales tax rates vary significantly by state and locality, ranging from 0% in Delaware, Montana, New Hampshire, and Oregon to over 10% in some states. The calculator shows the total cost including the car price, interest, and sales tax, helping you budget accurately.
Car Loan Payment Calculator with Trade-In
Trading in your current vehicle can reduce your loan amount and lower your monthly payments. Our trade-in calculator helps you calculate your net loan amount after trade-in value and down payment, see how trade-in value affects your monthly payment, and understand the total cost including the car price and interest. This helps you make informed decisions about trade-in versus selling privately.
Car Loan Payment Calculator with Down Payment
Making a down payment reduces your loan amount and can help you secure better interest rates. Our calculator allows you to input different down payment amounts to see how they affect your monthly payment and total interest. A larger down payment means lower monthly payments and less interest paid over the life of the loan.
Car Loan Payment Calculator 84 Months
84-month car loans have become increasingly popular, offering the lowest monthly payments. However, they come with significantly higher total interest costs and increased risk of owing more than your car is worth (negative equity). Our calculator supports 84-month loan terms and helps you compare different terms to find the balance that works for your budget.
Car Loan Payment Calculator Canada
Our calculator supports Canadian currency (CAD) and can be used for car loans in Canada. Whether you're financing a vehicle in Toronto, Vancouver, Montreal, or anywhere else in Canada, the calculator provides accurate results based on Canadian interest rates and loan terms.
Car Loan Payment Calculator Amortization
The detailed payment schedule (amortization table) shows you exactly how each payment is applied to principal and interest. This transparency helps you understand your loan progression and see how your balance decreases over time. Early in the loan, most of your payment goes to interest. As the loan progresses, more goes toward principal. You can export this schedule to Excel/CSV for your records or financial planning. The schedule includes all months without omission, allowing you to see the complete breakdown of your loan payments throughout the entire term.
Car Loan Payment Calculator Excel Export
Our calculator includes an Excel export feature that allows you to download your payment schedule as a CSV file compatible with Microsoft Excel, Google Sheets, and other spreadsheet applications. This is useful for financial planning, record-keeping, and sharing with financial advisors or lenders.
Understanding Loan Terms: 36, 48, 60, 72, and 84 Months
Short-term Loans (36-48 months):
- Lower total interest
- Higher monthly payments
- Faster equity building
- Less risk of negative equity
Long-term Loans (60-84 months):
- Lower monthly payments
- Higher total interest
- Risk of negative equity
- Longer commitment period
Tips for Getting the Best Car Loan
- Improve your credit score before applying - even a 50-point improvement can save thousands
- Shop around with multiple lenders - rates can vary significantly between banks, credit unions, and dealerships
- Negotiate the car price first, then discuss financing
- Consider manufacturer offers and promotions
- Aim for the shortest term you can afford
- Make a substantial down payment if possible
- Factor in sales tax when budgeting - it can add 5-10% to your purchase price
- Consider trade-in value carefully - sometimes selling privately gets more
- Pre-qualify to know your rate before shopping
- Read the fine print on extra payment policies
- Consider making extra payments to save interest and pay off early
- Check if your state offers tax exemptions or credits for certain vehicle types
Conclusion
A comprehensive car loan payment calculator is an indispensable tool for anyone considering auto financing. By providing clear insights into monthly payments, total costs including sales tax, amortization schedules, and various financing scenarios, it empowers you to make informed decisions and choose the loan structure that best fits your financial situation. Whether you're buying your first car, trading in for an upgrade, calculating costs with tax considerations, making extra payments to save interest, calculating early payoff scenarios, analyzing credit score impacts, or considering different loan terms including 84-month loans, use our calculator to explore all your options and enter the car-buying process with confidence. Our calculator supports calculations for various loan terms, handles interest rate variations, includes tax calculations for different states and regions, provides detailed amortization schedules, and offers Excel export functionality. Smart financing today leads to better financial freedom tomorrow.