Auto financing tool

New Car Auto Loan Calculator

Estimate a new-vehicle payment from the price and financing offer. Compare the financed balance, term, interest, and payoff date before you sign.

Your assumptions

Loan details

Start with the figures from your offer or loan statement.

Vehicle Purchase Price

Annual Interest Rate

Loan term

First payment month

Payment frequency

Extra each month (principal reduction) Optional

Applied to principal in the estimate. For weekly or biweekly schedules, the monthly amount is spread across the year.

Down payment, trade-in & fees

Down payment · reduces amount financed Trade-in credit · net equity Fees added to loan balance Interest accrual method One-time extra principal One-time payment month Initial fixed-rate period · years Assumed rate after fixed period

Down payment and trade-in reduce principal; financed fees increase it. Property costs are estimates and stay outside the loan calculation. A later rate is held constant after the fixed period for this illustration.

Results recalculate when you change an input. Select Update estimate to run the schedule manually.

Your estimate

Payment at a glance

Estimate

Monthly payment

—

Principal and interest

Financed principal —

Total paid

—

Total interest

—

Payoff date

—

How this estimate is calculated

Payments begin on the first day of the month after the selected start month. Biweekly and weekly schedules continue every 14 or 7 days from that first due date.
Periodic mode divides nominal APR by payments per year. Daily mode accrues simple interest on the outstanding principal using actual days between modeled payment dates and 365.25 days per year. Daily mode treats the first day of the selected start month as the accrual date; your contract's disbursement date and day-count convention may differ.
Calculations retain full internal precision and display dollar amounts to the nearest cent. The final payment can be lower than a regular payment when the remaining balance is smaller, and a lender's amount may differ because of timing, rounding, fees, or contract terms.
Recurring extra principal is added to each modeled payment; the monthly amount is spread over the year for weekly and biweekly schedules. One-time extras are applied in the selected month, or on the first payment if no month is chosen. Confirm that your lender applies extra funds to principal.
When an adjustable-rate period is entered, the payment is recalculated at that point using the supplied later rate, which is then held constant. Indexes, caps, and future rate changes are not predicted.
Mortgage property tax, insurance, PMI, and HOA are separate estimates. They do not reduce principal and are excluded from the loan schedule and total interest.

Compare options

Loan scenarios

Compare payment, interest, and payoff date together.

Standard schedule

Current loan · scheduled payments

Payment per period: —
Total interest: —
Payoff date: —

With extra

Your current plan

Payment incl. extra: —
Total interest: —
Payoff date: —

Add an extra payment to see estimated savings.

Extra amounts are modeled as principal payments. Confirm payment handling with your lender.

Estimates use the inputs and assumptions selected above. Your lender’s dates, rate conventions, fees, posting rules, and rounding may differ; the final payment may be smaller than a regular installment.

Compare the Full Auto Financing Offer

A dealer's monthly quote can combine the vehicle price, trade-in value, down payment, taxes, fees, and optional products. Enter the purchase price, down payment, trade-in credit, and any fees you choose to finance above. The schedule uses the resulting financed principal; it does not estimate sales tax, registration, insurance, or add-ons unless you include them in the financed amount.

Use the scenario cards to compare lender offers on the same vehicle price and term. Compare rate, financed fees, total interest, payoff date, and payment amount together so a lower quoted payment does not hide a longer term or a larger amount financed.

Comparing a lease with financing instead? Use the lease-versus-buy calculator with the written lease quote and your expected ownership period. For a used vehicle, see the used-car loan calculator.

How Down Payment and Trade-In Change the Loan

Cash down and positive trade-in equity reduce the amount financed before interest is calculated. If a trade-in has negative equity, rolling the difference into the next loan increases the starting balance and can keep the borrower owing more than the vehicle is worth. Enter a trade-in credit only after subtracting any payoff balance owed on the current vehicle.

Comparing Auto Loan Terms: What Your Schedule Shows

The term you choose affects both the payment and total financing cost. The figures below use an illustrative $35,000 loan at an assumed 7.5% rate; they are examples, not current lender-rate guidance. Enter your actual offer above to compare it:

36 months: about $1,089/mo — total interest about $4,200. Highest payment, lowest total interest of these examples.
48 months: about $848/mo — total interest about $5,700.
60 months: about $701/mo — total interest about $7,100.
72 months: about $605/mo — total interest about $8,600. Lower payment, but the vehicle may depreciate faster than the balance falls in early months.
84 months: about $536/mo — total interest about $10,000 and more time carrying a balance.

With the rate and amount financed held constant, a longer term lowers the scheduled payment and increases modeled total interest. It may also leave a higher balance during the early ownership period. Whether the balance exceeds the vehicle's value depends on the purchase price, down payment, trade-in equity, fees, and depreciation.

How to Compare Auto Financing Offers

Get a comparison offer. A bank or credit-union pre-approval may give you another rate and term to compare; it does not guarantee approval or prevent a dealer markup.
Model different down payments. More cash down reduces the amount financed and usually lowers modeled interest, but account for taxes, fees, and cash reserves.
Compare term and total cost together. A shorter term usually raises the payment and lowers modeled interest at the same rate; choose inputs that fit your budget and other expenses.
Compare multiple lenders. Compare written offers from banks, credit unions, online lenders, and dealer financing using the same amount and term. Rates vary by borrower, vehicle, lender, and offer date.
Check any trade-in payoff gap. If you finance negative equity with the next vehicle, it increases the starting balance. Compare the total amount financed and confirm the payoff details in writing.

Frequently Asked Questions

What does a new-car loan estimate include? ▼

Enter the new vehicle price, annual rate, term, down payment, trade-in credit, and fees you plan to finance. The schedule estimates principal and interest; it does not independently estimate taxes, insurance, registration, or dealer add-ons.

What changes the amount financed for a new car? ▼

Start with the negotiated vehicle price, subtract cash down and net trade-in equity, then add taxes, registration, and other charges you choose to finance. Enter those financed costs in the fees field. Keep optional products separate so you can compare the same vehicle and terms across offers.

What is a car loan amortization schedule? ▼

The schedule groups yearly totals and expands into individual payment dates, principal, interest, and balances. A down payment and net trade-in equity reduce the amount financed; financed fees increase it.

How does auto loan amortization work? ▼

For a fixed-rate schedule, regular payments are level under the selected method. Each payment covers interest and principal, and the interest share generally declines as the balance falls. Daily accrual, a later rate change, extra payments, or lender-specific timing can change amounts and the final payment.

What is a good interest rate for a car loan? ▼

Rates depend on credit history, vehicle, lender, and offer date. Compare the annual percentage rate, financed fees, term, and total cost across current written offers. Enter each offer in a scenario card; this page does not provide current rate benchmarks.