Car Loan Calculator
Calculate your monthly car payment and the true cost of financing — including every dollar of interest you'll pay over the life of the loan. A longer term lowers your payment but can cost thousands more.
$
$
$
%
Monthly Payment
$594
Loan Amount
$30,000
Total Interest
$5,642
Vehicle Price$35,000
Down Payment + Trade-In−$5,000
Interest Charged+$5,642
Total Out-of-Pocket$40,642
Annual Principal vs Interest Paid
The 20% rule for car buying
Put at least 20% down, finance for no more than 48 months, and keep your total car payment under 10% of your gross monthly income. A car is a depreciating asset — the less you finance, the better.