Car Payment Calculator
Work out your monthly car payment — enter the price, down payment, trade-in, loan term and interest rate to see what you’d pay each month, plus total interest and cost.
What drives your monthly car payment
Four things set the payment: the price (minus down payment and trade-in), the APR, the term in months, and any sales tax you finance. The calculator runs the amortization for you, so you can see instantly how a bigger down payment or a shorter term changes what you pay each month — and how much total interest you’d hand the lender.
How much car payment can you afford?
A common rule of thumb keeps total car costs — payment, insurance and fuel — under about 15–20% of your take-home pay. Decide on a comfortable monthly number first, then adjust the price and down payment until the payment lands there. To check your take-home pay, use the paycheck calculator; for the loan-and-interest view see the auto loan calculator.
Car payment by brand
Estimate a payment with a typical example for a popular model:
Frequently asked questions
How much will my monthly car payment be?
Your payment depends on the amount financed (price minus down payment and trade-in), the APR and the loan term. For instance, financing $25,000 at 7% APR over 60 months is about $495 a month. Enter your own figures above to see your payment and how much goes to interest.
How much car payment can I afford?
A common guideline is to keep your total car costs — payment, insurance and fuel — under about 15–20% of your take-home pay, and to put at least 10–20% down. Decide on a comfortable monthly figure, then adjust the price, down payment and term above until the payment fits.
Does a bigger down payment lower my car payment?
Yes. Every dollar of down payment or trade-in reduces the amount you finance, which directly lowers both the monthly payment and the total interest you pay. Try increasing the down payment above to see the effect on the monthly figure.
What APR should I use if I don’t know my rate yet?
Use a rough estimate based on your credit and whether the car is new or used, then refine it once you have a real quote. Trying a range of APRs shows how sensitive the payment is to the rate, which helps when you shop lenders. The calculator updates instantly as you change it.