Auto Loan Calculator
Estimate your monthly car loan payment and total cost with NerdWallet’s auto loan calculator. Adjust car price, term, rate and down payment to find the best fit for your budget.
Loan details
Your loan estimate
Monthly payment
$0.00
| Payment datePayment date | PrincipalPrincipal | InterestInterest | Monthly totalMonthly total | Principal balancePrincipal balance |
|---|
Find a good auto loan based on current interest rates
Once you decide on a loan amount and term, add a few more details to search for auto lenders that meet your criteria. You’ll also see their current interest rate ranges.
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The terms presented here are estimated and provided solely to assist you in finding a great lender. The monthly payment amount, Annual Percentage Rate (APR), and any other terms are based on standard Consumers Credit Union rates and terms for your NerdWallet provided credit score, zip code, and the other self-provided information. These terms may vary based on your credit history, your individual income, or other terms of the lender.
3 auto loans found
What you can do with this car loan calculator
NerdWallet’s car loan payment calculator goes beyond basic inputs like loan amount, term and rate. You can also add:
Down payment amount.
Trade-in value and any loan balance you still owe.
Sales tax rate.
Title, registration and other fees.
Whether to roll fees into your loan amount.
Your results include your estimated monthly payment, total interest cost and a full amortization schedule showing how each payment is split between principal and interest. Use it to compare loan terms, shop lenders and choose the most affordable auto loan for your budget.
» MORE: How car loans work and key terms
Steps to using this auto loan calculator
Several aspects of a loan contribute to what you’ll pay monthly and in total. Our car financing calculator collects the following information to help you plan for what you’ll be spending:
1. Enter your vehicle price
For new cars, use the MSRP (sticker price) or negotiated price before taxes.
For used cars use the seller's asking price or your negotiated price. Online pricing guides will show you the price of comparable vehicles.
2. Subtract any down payment
Aim for 20% of a new car's purchase price and 10% for a used car.
If you can't afford this amount, put down as much as you can without draining your savings or emergency funds.
3. Input the interest rate
If you get prequalified or preapproved for a loan, enter the rate you’re offered.
Or use this table to help estimate your rate and monthly car payment.
Average car loan interest rates by credit score
Credit score | Average APR, new car | Average APR, used car |
|---|---|---|
Superprime: 781-850 | 4.66% | 7.70% |
Prime: 661-780 | 6.27% | 9.98% |
Nonprime: 601-660 | 9.57% | 14.49% |
Subprime: 501-600 | 13.17% | 19.42% |
Deep subprime: 300-500 | 16.01% | 21.85% |
Source: Experian Information Solutions, 4th quarter 2025. Based on VantageScore credit scoring model. | ||
4. PIck a loan term
Enter the number of months you want to pay off the loan. Common car loan terms are 24, 36, 48, 60, 72 or 84 months.
NerdWallet recommends no more than 60 months, if possible. Longer auto loan terms lower your monthly payment but increase your cost overall.
5. Enter any trade-in value
If you’ll be trading in a vehicle, enter its value. You can use a dealers actual offer or online car valuation tools that give you trade-in estimates.
If using online tools, make sure to use the trade-in value and not retail cost (the price at which the dealer sells the car).
6. Include any trade-in amount owed
Enter any remaining loan balance for the vehicle you're trading in.
This is the payoff amount, which can be provided by your lender.
7. Input sales tax and fees (optional)
Including these numbers isn't necessary, but it will provide more precise loan and payment estimates.
Enter your sales tax rate as a percentage. If you're using the vehicle's out-the-door price it includes sales tax, so leave this field blank.
Input title, registration or other fees — such as destination charges. Again, omit these items if you're using an out-the-door price that includes them.
Your auto finance calculator results
When you input your numbers, our auto loan calculator automatically updates to show you the following:
A monthly car payment estimate.
Total loan cost (principal and interest).
Loan payoff date.
Option to view a full amortization schedule for your car loan, showing how each payment is split between principal and interest monthly.
Car loan interest rates and annual percentage rates, or APRs, aren't the same. Interest rate is the percentage you pay to borrow money. APR includes interest rate plus any fees charged by a lender. When comparing loan offers, make sure you are comparing the APR.
Calculate, plan, budget, save
An auto loan calculator is a powerful tool that can help you plan your car purchase, set a budget and possibly save thousands of dollars. Here's how.
1. Estimate a comfortable monthly payment
Adjust vehicle price, down payment, rate and term to see what combination results in a monthly car payment you can afford. Try to spend no more than 10% of your monthly take-home pay on your car payment.
2. Compare lenders for the lowest-cost loan
Apply to several lenders for preapproved auto loan offers, but do it within a two-week window to lessen impact to your credit scores. Enter each lender's APR and loan term offer into the calculator to see which one results in the lowest total cost.
3. Test different loan terms
Use the calculator to compare short vs. long loan terms and find your best balance of payment size and overall cost. Longer terms lower your monthly payment but significantly increase total interest paid.
Example: Could you be comfortable with a higher payment for 48 months to save nearly $2,600?
Loan amount/APR | Term | Monthly payment | Total interest |
|---|---|---|---|
$25,000/9% | 48 months. | $622. | $4,862. |
$25,000/9% | 72 months. | $451. | $7,446. |
4. Compare down payment amounts
Saving a larger car down payment can reduce the amount you borrow, lowering your monthly payment and total interest cost. Use the calculator to see the difference increasing your down payment will make.
Example: If you can delay your purchase and put more down later, is the amount of interest saved worth the wait?
Down payment amount | Loan amount | Total interest paid* |
|---|---|---|
$4,000 (10%). | $36,000. | $6,771. |
$8,000 (20%). | $32,000. | $6,018. |
*Based on a $40,000 new car, 60-month loan at 7% APR. | ||
5. See your total car cost
Don’t forget to include sales tax, title, registration and dealer fees. Use the Add Advanced Info fields to include them for a complete cost picture. Note: If the vehicle purchase price you use is an out-the-door price, it may already include some of these costs.
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More about car loans
Use our auto loan calculator along with these resources to make your car-buying journey easier and get the best car loan possible.
Frequently asked questions
How is a monthly car payment calculated?
A lender’s loan offer will include the total amount you’re financing (called principal) and the amount you will pay in interest for borrowing the money. Earlier in a loan, a higher portion of your monthly payment will go to paying interest and less to principal. As you pay down the balance of the loan, you will pay less in interest. This process is called amortization.
Auto loan calculators and car payment calculators automatically account for amortization, so these tools are the easiest way to figure a car payment. But whether you’re using a calculator or figuring by hand, the equation for a monthly car payment is the same.
It’s total loan amount (including interest) divided by the loan term (number of months you have to repay the loan. For example, the total interest for a $30,000, 60-month loan at 7% would be $6,497.40. So the monthly payment would be $608.29 ($30,000 + $6,497.40 ÷ 60 = $552.50).
How much car can I afford?
NerdWallet recommends spending less than 10% of your take-home pay on your monthly car payment, if possible. When you have a target payment amount, you can use the auto loan calculator to figure what loan amount, term and rate will keep you within budget. Our car affordability calculator is another tool you can use.