Auto Payment Calculator
Calculate your estimated monthly car payment based on loan amount, term, and interest rate.
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Get in TouchYour monthly car payment is calculated from the amount you finance, your interest rate, and your loan term using the standard amortization formula. Financing $30,000 at a 5% rate for 60 months comes out to about $566 per month. A longer term lowers the payment but increases the total interest you'll pay.
How It Works
This calculator uses the same fixed-rate amortization math as a standard installment loan. Enter how much you're financing (the vehicle price minus your down payment and trade-in), your annual interest rate, and your loan term, and it calculates the equal monthly payment that pays off the loan by the end of the term.
Formula
Auto loan payments are calculated using the standard amortization formula:
- M — your monthly payment
- P — the amount financed (price minus down payment and trade-in)
- r — your monthly interest rate (annual rate ÷ 12)
- n — the total number of monthly payments (loan term in months)
Example
Say you finance $30,000 at a 5% annual interest rate for 5 years (60 months):
- Monthly interest rate: 5% ÷ 12 ≈ 0.417%
- Number of payments: 60
- Estimated monthly payment: ≈ $566.14
- Total paid over the loan: ≈ $33,968.40
- Total interest paid: ≈ $3,968.40
Assumptions & Limitations
This calculator assumes a fixed interest rate and equal monthly payments over the full term. It doesn't include sales tax, title and registration fees, dealer add-ons, or extended warranties — your actual financed amount and payment may be higher once those are included. Results are estimates for educational purposes only.
Frequently Asked Questions
License This Calculator for Your Business
Want the Auto Payment Calculator on your own website? CalcX calculators are available to license — fully branded to match your site, embeddable in minutes, and built to turn visitors into qualified leads.
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