Auto Loan Calculator
Calculate monthly car payments, total interest, and true cost of any auto loan.
Vehicle and loan details
Add price, down payment, rate, term, taxes, and optional extra payments.
Currency
Purchase price before taxes and fees.
Cash paid upfront to reduce the loan.
Estimated trade-in credit.
Advertised annual loan rate.
Total number of monthly payments.
Optional estimate. Rules vary by location.
Estimated financed fees.
Optional extra principal payment.
Monthly payment
£538.07
Estimated scheduled monthly payment before extra payment.
Amount financed
£27,500.00
Price plus taxes and fees, minus down payment and trade-in.
Total interest
£4,784.14
Estimated interest over the payoff period.
Total repayment
£32,284.14
Amount financed plus estimated interest.
Upfront cash
£3,000.00
Down payment entered by the user.
Scheduled payment
£538.07
Monthly payment plus extra monthly payment.
Sales tax
£0.00
0.00% applied to taxable amount.
Payoff time
60 months
Based on the selected loan term.
Support
Finance support layer
Payment estimate
Uses a standard amortizing loan formula to estimate the monthly auto loan payment.
Estimate only
Results are estimates. Taxes, fees, lender rules, and final financing terms can vary.
Cost-aware view
The dashboard separates amount financed, interest, repayment, upfront cash, and taxes.
Interpretation
What these auto loan results mean
Monthly payment
Your estimated monthly payment is £538.07 for a 60-month loan.
Amount financed
You are financing approximately £27,500.00 after down payment, trade-in, taxes, and fees.
Interest impact
Estimated interest is £4,784.14 over the payoff period.
Extra payment effect
Adding extra principal payments may reduce total interest and shorten payoff time.
Auto loan basics
How auto loans work
Vehicle price
The purchase price is the starting point before down payment, trade-in, taxes, and fees.
Amount financed
Amount financed is the loan balance used to calculate your monthly payment.
Interest rate
The rate affects how much interest you pay over the life of the loan.
Loan term
Longer terms can lower monthly payment but often increase total interest.
Comparison
Shorter vs longer auto loan terms
Shorter loan term
Higher payment
A shorter term usually means a higher monthly payment, but less total interest over time.
Longer loan term
Lower payment
A longer term may reduce the monthly payment, but the loan can cost more in total interest.
Down payment
How down payments and trade-ins affect financing
Down payment
A down payment reduces the loan balance and may lower both monthly payment and total interest.
Trade-in value
A trade-in credit can reduce the amount financed, depending on the deal structure and local rules.
Taxes and fees
Sales tax, registration, lender fees, and dealer fees can increase the amount financed.
Ownership costs
Insurance, maintenance, fuel, and repairs are not part of the loan payment but affect affordability.
Formula
Auto loan formula explanation
Monthly payment
Payment = P × r × (1 + r)^n / ((1 + r)^n − 1)P is amount financed, r is monthly interest rate, and n is the number of monthly payments.
Amount financed
Amount Financed = Price + Taxes + Fees − Down Payment − Trade-InThis is the loan balance used to estimate the monthly payment.
Total interest
Total Interest = Total Payments − Amount FinancedThis estimates how much of your repayment is interest rather than principal.
FAQ
Auto loan calculator questions
An auto loan payment is based on the amount financed, interest rate, and loan term. The calculator estimates the monthly payment using a standard amortizing loan formula.
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