Auto Loan Calculator
Estimate your monthly car payment, total cost and interest from the loan terms.
Monthly payment$483.32
Total paid$28,999.20
Total interest$3,999.20
A car loan amortizes just like a mortgage: payment = P · i ÷ (1 − (1 + i)⁻ⁿ), where P is the amount financed, i is the monthly rate (annual ÷ 1200) and n is the number of months (years × 12). A $25,000 loan at 6% over 5 years is ≈ $483.32/mo, ≈ $28,999 paid in total (≈ $3,999 interest). Taxes, fees and any down payment are separate.
Educational estimate only — not professional financial or medical advice.
Questions
How is a car payment calculated?
It uses the amortization formula: payment = P × i ÷ (1 − (1 + i)⁻ⁿ), with P the loan, i the monthly rate and n the months. A $25,000 loan at 6% over 5 years is about $483 per month.
Does this include tax, title and fees?
No. This is principal and interest on the amount financed only. Sales tax, registration, dealer fees and any down payment change the real out-the-door cost.