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Loan & Auto Calculator

Find the monthly payment and total interest on any loan — or switch to auto mode for sales tax, fees, and trade-in.

InputsLOAN
$
%
Monthly payment60-mo
$501/mo
amount financed$25,000
total interest$5,057
amount financed
$25,000
total interest
$5,057
total of payments
$30,057
Loan balance over time
Remaining balance Interest paid
$0$7k$14k$20k$27k2026202820292031

How loan payments work

A loan is amortized: each payment covers that month's interest first, and the rest reduces the balance. Because the balance shrinks over time, later payments put more toward principal — the chart above shows the crossover.

M = P · [ r(1 + r)ⁿ ] / [ (1 + r)ⁿ − 1 ]

In auto mode, the amount financed is your vehicle price plus sales tax and fees, minus your down payment and trade-in. Sales tax is applied to the price after the trade-in credit in most states.

Common questions

How is my monthly loan payment calculated?
The same fixed-rate amortization formula as a mortgage: your amount financed, monthly rate (APR ÷ 12), and number of payments produce a level monthly payment that's mostly interest early on and mostly principal later.
Does auto mode include sales tax and fees?
Yes. Switch to Auto loan and it adds sales tax (on the price minus your trade-in, as most states do) plus fees, then subtracts your down payment and trade-in to get the amount financed.
Should I make a bigger down payment?
A larger down payment lowers the amount financed, so both your monthly payment and total interest drop. It also reduces the risk of owing more than the car is worth.
What loan term should I choose?
A longer term lowers the monthly payment but increases total interest — and for cars, raises the odds of going underwater. Shorter terms cost more per month but far less overall.

How we calculate this

Standard fixed-rate amortization; auto mode applies sales tax to price minus trade-in. Estimates only — not financial advice.

Full methodology & sources →
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Estimates are for general informational purposes only. Actual loan terms, taxes, and fees vary by lender and state. Not financial advice.