Vehicle Loan Calculator
Calculate monthly payments, total interest, amortization schedule, and more. Supports down payment, trade-in values, extra payments, and payoff calculations for vehicles worldwide.
Loan Details
Common: 36, 48, 60, 72, 84 months
Summary
Payment Schedule
| Month | Date | Principal | Interest | Total | Balance |
|---|---|---|---|---|---|
| 1 | December 1, 2025 | $429.98 | $150.00 | $579.98 | $29,570.02 |
| 2 | January 1, 2026 | $432.13 | $147.85 | $579.98 | $29,137.88 |
| 3 | February 1, 2026 | $434.29 | $145.69 | $579.98 | $28,703.59 |
| 4 | March 1, 2026 | $436.47 | $143.52 | $579.98 | $28,267.12 |
| 5 | April 1, 2026 | $438.65 | $141.34 | $579.98 | $27,828.47 |
| 6 | May 1, 2026 | $440.84 | $139.14 | $579.98 | $27,387.63 |
| 7 | June 1, 2026 | $443.05 | $136.94 | $579.98 | $26,944.59 |
| 8 | July 1, 2026 | $445.26 | $134.72 | $579.98 | $26,499.32 |
| 9 | August 1, 2026 | $447.49 | $132.50 | $579.98 | $26,051.84 |
| 10 | September 1, 2026 | $449.72 | $130.26 | $579.98 | $25,602.11 |
| 11 | October 1, 2026 | $451.97 | $128.01 | $579.98 | $25,150.14 |
| 12 | November 1, 2026 | $454.23 | $125.75 | $579.98 | $24,695.90 |
| 13 | December 1, 2026 | $456.50 | $123.48 | $579.98 | $24,239.40 |
| 14 | January 1, 2027 | $458.79 | $121.20 | $579.98 | $23,780.61 |
| 15 | February 1, 2027 | $461.08 | $118.90 | $579.98 | $23,319.53 |
| 16 | March 1, 2027 | $463.39 | $116.60 | $579.98 | $22,856.15 |
| 17 | April 1, 2027 | $465.70 | $114.28 | $579.98 | $22,390.44 |
| 18 | May 1, 2027 | $468.03 | $111.95 | $579.98 | $21,922.41 |
| 19 | June 1, 2027 | $470.37 | $109.61 | $579.98 | $21,452.04 |
| 20 | July 1, 2027 | $472.72 | $107.26 | $579.98 | $20,979.32 |
| 21 | August 1, 2027 | $475.09 | $104.90 | $579.98 | $20,504.23 |
| 22 | September 1, 2027 | $477.46 | $102.52 | $579.98 | $20,026.76 |
| 23 | October 1, 2027 | $479.85 | $100.13 | $579.98 | $19,546.91 |
| 24 | November 1, 2027 | $482.25 | $97.73 | $579.98 | $19,064.66 |
| 25 | December 1, 2027 | $484.66 | $95.32 | $579.98 | $18,580.00 |
| 26 | January 1, 2028 | $487.08 | $92.90 | $579.98 | $18,092.92 |
| 27 | February 1, 2028 | $489.52 | $90.46 | $579.98 | $17,603.40 |
| 28 | March 1, 2028 | $491.97 | $88.02 | $579.98 | $17,111.43 |
| 29 | April 1, 2028 | $494.43 | $85.56 | $579.98 | $16,617.01 |
| 30 | May 1, 2028 | $496.90 | $83.09 | $579.98 | $16,120.11 |
| 31 | June 1, 2028 | $499.38 | $80.60 | $579.98 | $15,620.72 |
| 32 | July 1, 2028 | $501.88 | $78.10 | $579.98 | $15,118.84 |
| 33 | August 1, 2028 | $504.39 | $75.59 | $579.98 | $14,614.45 |
| 34 | September 1, 2028 | $506.91 | $73.07 | $579.98 | $14,107.54 |
| 35 | October 1, 2028 | $509.45 | $70.54 | $579.98 | $13,598.10 |
| 36 | November 1, 2028 | $511.99 | $67.99 | $579.98 | $13,086.10 |
| 37 | December 1, 2028 | $514.55 | $65.43 | $579.98 | $12,571.55 |
| 38 | January 1, 2029 | $517.13 | $62.86 | $579.98 | $12,054.42 |
| 39 | February 1, 2029 | $519.71 | $60.27 | $579.98 | $11,534.71 |
| 40 | March 1, 2029 | $522.31 | $57.67 | $579.98 | $11,012.40 |
| 41 | April 1, 2029 | $524.92 | $55.06 | $579.98 | $10,487.48 |
| 42 | May 1, 2029 | $527.55 | $52.44 | $579.98 | $9,959.93 |
| 43 | June 1, 2029 | $530.18 | $49.80 | $579.98 | $9,429.75 |
| 44 | July 1, 2029 | $532.84 | $47.15 | $579.98 | $8,896.91 |
| 45 | August 1, 2029 | $535.50 | $44.48 | $579.98 | $8,361.41 |
| 46 | September 1, 2029 | $538.18 | $41.81 | $579.98 | $7,823.24 |
| 47 | October 1, 2029 | $540.87 | $39.12 | $579.98 | $7,282.37 |
| 48 | November 1, 2029 | $543.57 | $36.41 | $579.98 | $6,738.80 |
| 49 | December 1, 2029 | $546.29 | $33.69 | $579.98 | $6,192.51 |
| 50 | January 1, 2030 | $549.02 | $30.96 | $579.98 | $5,643.48 |
| 51 | February 1, 2030 | $551.77 | $28.22 | $579.98 | $5,091.72 |
| 52 | March 1, 2030 | $554.53 | $25.46 | $579.98 | $4,537.19 |
| 53 | April 1, 2030 | $557.30 | $22.69 | $579.98 | $3,979.89 |
| 54 | May 1, 2030 | $560.08 | $19.90 | $579.98 | $3,419.81 |
| 55 | June 1, 2030 | $562.89 | $17.10 | $579.98 | $2,856.92 |
| 56 | July 1, 2030 | $565.70 | $14.28 | $579.98 | $2,291.22 |
| 57 | August 1, 2030 | $568.53 | $11.46 | $579.98 | $1,722.70 |
| 58 | September 1, 2030 | $571.37 | $8.61 | $579.98 | $1,151.33 |
| 59 | October 1, 2030 | $574.23 | $5.76 | $579.98 | $577.10 |
| 60 | November 1, 2030 | $577.10 | $2.89 | $579.98 | $0.00 |
Vehicle Loan Calculator - Your Complete Guide to Vehicle Financing
Whether you're purchasing a car, truck, motorcycle, RV, or any other vehicle, understanding your loan payments is crucial to making an informed financial decision. Our comprehensive vehicle loan calculator helps you estimate monthly payments, total interest costs, amortization schedules, and explore various financing scenarios including down payments, trade-in values, extra payments, and payoff calculations. This tool is designed for borrowers in India, Canada, Australia, Malaysia, Sri Lanka, South Africa, Texas, British Columbia, and worldwide.
What is a Vehicle Loan Calculator?
A vehicle loan calculator is a powerful financial tool that computes your monthly vehicle 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 down payments, trade-in analysis, extra payments, and payoff calculations.
Basic Vehicle Loan 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
Vehicle Loan Calculator with Down Payment
Making a down payment reduces your loan amount and lowers your monthly payments. Our calculator with down payment feature allows you to:
- Calculate your net loan amount after down payment
- See how down payment affects your monthly payment
- Understand the total cost including the vehicle price and interest
- Make informed decisions about optimal down payment amounts
A larger down payment means a smaller loan amount, which results in lower monthly payments and less total interest paid over the life of the loan. Many lenders require a minimum down payment, typically 10-20% of the vehicle price.
Vehicle Loan Calculator with Trade-In
Trading in your current vehicle can significantly 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
- Understand the total cost including the vehicle price and interest
- Make informed decisions about trade-in vs. selling privately
When trading in, the dealer applies the trade-in value toward your new vehicle purchase, reducing the amount you need to finance. However, you may get more money by selling your vehicle privately, so compare both options carefully.
Vehicle Loan Calculator with Extra Payments
Making extra payments on your vehicle 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: Add a fixed amount to each monthly payment
- One-Time Lump Sum: Make a single large payment at a specific month
- Interest Savings: See exactly how much interest you'll save
- Payoff Date: Know 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. Always check with your lender about prepayment penalties before making extra payments.
Vehicle Loan Payoff Calculator
Our payoff calculator helps you determine how quickly you can pay off your existing vehicle loan with extra payments. It shows:
- Your exact payoff date with extra payments
- How many months you'll save
- Total interest savings
- Detailed payment schedule showing each payment
This is especially useful if you're considering making extra payments or a lump sum payment to pay off your loan early. The calculator helps you visualize the financial benefits of paying off your loan ahead of schedule.
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
84-month vehicle 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 vehicle is worth (negative equity). Use our calculator to compare different terms and find the balance that works for your budget.
Vehicle Loans by Region
Our calculator works for vehicle loans worldwide, including specific regions:
- India: Calculate EMI for car loans, bike loans, and commercial vehicle loans from banks like SBI, HDFC, ICICI, Axis Bank
- Canada & BC: Calculate vehicle loans with GST/HST considerations, compare rates from TD, Scotiabank, RBC
- Australia: Calculate car loans, compare rates, and understand stamp duty implications
- Malaysia: Calculate hire purchase loans, compare rates from Maybank, Public Bank, CIMB
- Sri Lanka: Calculate vehicle loans from local banks and finance companies
- South Africa: Calculate vehicle finance with interest rates from local lenders
- Texas, USA: Calculate auto loans with state-specific considerations
Understanding Amortization Schedules
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 CSV for your records or financial planning.
Tips for Getting the Best Vehicle Loan
- Improve your credit score before applying - even a 50-point improvement can save thousands
- Shop around with multiple lenders - rates can vary significantly
- Negotiate the vehicle 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
- 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 refinancing if rates drop or your credit improves
Conclusion
A comprehensive vehicle loan calculator is an indispensable tool for anyone considering vehicle financing. By providing clear insights into monthly payments, total costs, 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 vehicle, trading in for an upgrade, making extra payments to save interest, or calculating your payoff date, use our calculator to explore all your options and enter the vehicle-buying process with confidence. Smart financing today leads to better financial freedom tomorrow.