Car Payment Calculator
Estimate your monthly car payment instantly. Same math your lender uses.
Loan details
Tips to lower your payment
Larger down payment
- ~$20/mo savings per $1,000 down
- Less interest over loan life
- Reduces negative-equity risk
Shop the APR
- Credit union quote first
- Online lender quote second
- Dealer quote last (for leverage)
Shorter term
- 60 months → sweet spot
- Avoid 72/84-mo loans
- Pay off sooner, less interest
Frequently asked questions
How is my payment calculated?
Using the standard bank amortization formula: M = P×[r(1+r)n] / [(1+r)n−1], where P is loan principal, r is monthly interest rate (APR÷12), and n is number of monthly payments.
What counts as the principal?
Vehicle price minus down payment minus trade-in value, plus sales tax if you choose to roll the tax into the loan.
What loan term should I pick?
60 months is the traditional sweet spot. 72 and 84-month loans have lower monthly payments but pay far more interest and keep you underwater for years.
What APR should I use?
In 2026, major lenders quote 6-9% for excellent credit (720+), 9-13% for good credit (660-719), and 13-19%+ for fair credit. Get 3+ quotes before signing.
Before you finance, check the history
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