Money · auto
Car Loan Calculator
By the Dailycaltor team · formula-verified · last updated July 2026
Your monthly car payment, before you sign.
Details
Formula
Payment uses the standard loan formula on the financed amount (price − down payment). Longer terms cut the monthly payment but raise total interest — and can leave you owing more than the car is worth.
Worked examples
- $30,000 car, $5,000 down, 60 months at 7% → about $495/month, ~$4,700 interest.
- Same loan over 72 months → ~$426/month but ~$5,700 interest.
- 36 months → ~$772/month, only ~$2,780 interest.
Common mistakes
- Shopping by monthly payment only — dealers stretch the term to hide total cost.
- Skipping tax, registration and fees, which can be financed and inflate the loan.
- 72–84 month terms that outlast the car's reliable years.
Last updated: July 2026. Educational estimates only.
Questions
What is a good car loan term?
36–60 months balances payment and interest; beyond 72 months costs much more overall.
How much should I put down on a car?
10–20% is common; more down means less interest and less risk of owing more than the car's value.
New vs used loan rates?
Used-car APRs typically run higher than new-car promotional rates.
Does credit score change my payment?
Strongly — APR can range several points between credit tiers, shifting the payment by a lot.
Should I finance the taxes and fees?
Paying them upfront keeps the loan smaller and cheaper.