Auto Loan Calculator

Estimate the monthly payment of a new vehicle or the maximum vehicle price for a specified monthly loan payment.

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Loan Summary:

Monthly Payment:
$400.07
Loan Amount:
$21,200.00
Total Interest:
$2,804.21
Total Payments:
$24,004.21
Payoff Date:
Aug 2027

Amortization Schedule:

Amortization schedule for a $21,200.00 loan with a 5% interest rate and a 60-month term.
DatePaymentPrincipalInterestRemaining Balance
Aug 2022$400.07$311.74$88.33$20,888.26
Sep 2022$400.07$313.04$87.03$20,575.22
Oct 2022$400.07$314.34$85.73$20,260.88
Nov 2022$400.07$315.65$84.42$19,945.23
Dec 2022$400.07$316.96$83.11$19,628.27
Jan 2023$400.07$318.29$81.78$19,309.98
Feb 2023$400.07$319.61$80.46$18,990.37
Mar 2023$400.07$320.94$79.13$18,669.43
Apr 2023$400.07$322.28$77.79$18,347.15
May 2023$400.07$323.62$76.45$18,023.53
Jun 2023$400.07$324.97$75.10$17,698.56
Jul 2023$400.07$326.33$73.74$17,372.23
Aug 2023$400.07$327.69$72.38$17,044.54
Sep 2023$400.07$329.05$71.02$16,715.49
Oct 2023$400.07$330.42$69.65$16,385.07
Nov 2023$400.07$331.80$68.27$16,053.27
Dec 2023$400.07$333.18$66.89$15,720.09
Jan 2024$400.07$334.57$65.50$15,385.52
Feb 2024$400.07$335.96$64.11$15,049.56
Mar 2024$400.07$337.36$62.71$14,712.20
Apr 2024$400.07$338.77$61.30$14,373.43
May 2024$400.07$340.18$59.89$14,033.25
Jun 2024$400.07$341.60$58.47$13,691.65
Jul 2024$400.07$343.02$57.05$13,348.63
Aug 2024$400.07$344.45$55.62$13,004.18
Sep 2024$400.07$345.89$54.18$12,658.29
Oct 2024$400.07$347.33$52.74$12,310.96
Nov 2024$400.07$348.77$51.30$11,962.19
Dec 2024$400.07$350.23$49.84$11,611.96
Jan 2025$400.07$351.69$48.38$11,260.27
Feb 2025$400.07$353.15$46.92$10,907.12
Mar 2025$400.07$354.62$45.45$10,552.50
Apr 2025$400.07$356.10$43.97$10,196.40
May 2025$400.07$357.58$42.49$9,838.82
Jun 2025$400.07$359.07$41.00$9,479.75
Jul 2025$400.07$360.57$39.50$9,119.18
Aug 2025$400.07$362.07$38.00$8,757.11
Sep 2025$400.07$363.58$36.49$8,393.53
Oct 2025$400.07$365.10$34.97$8,028.43
Nov 2025$400.07$366.62$33.45$7,661.81
Dec 2025$400.07$368.15$31.92$7,293.66
Jan 2026$400.07$369.68$30.39$6,923.98
Feb 2026$400.07$371.22$28.85$6,552.76
Mar 2026$400.07$372.77$27.30$6,179.99
Apr 2026$400.07$374.32$25.75$5,805.67
May 2026$400.07$375.88$24.19$5,429.79
Jun 2026$400.07$377.45$22.62$5,052.34
Jul 2026$400.07$379.02$21.05$4,673.32
Aug 2026$400.07$380.60$19.47$4,292.72
Sep 2026$400.07$382.18$17.89$3,910.54
Oct 2026$400.07$383.78$16.29$3,526.76
Nov 2026$400.07$385.38$14.69$3,141.38
Dec 2026$400.07$386.98$13.09$2,754.40
Jan 2027$400.07$388.59$11.48$2,365.81
Feb 2027$400.07$390.21$9.86$1,975.60
Mar 2027$400.07$391.84$8.23$1,583.76
Apr 2027$400.07$393.47$6.60$1,190.29
May 2027$400.07$395.11$4.96$795.18
Jun 2027$400.07$396.76$3.31$398.42
Jul 2027$400.08$398.42$1.66$0.00
This calculation is based on widely-accepted formulas, but it is not a recommendation for how to handle your finances. Consult with a financial professional before making financial decisions.
Learn how we calculated this below


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How to Use the Auto Loan Calculator

While the loan calculator won’t be perfect, it should give you a close estimate that you can expect for a monthly payment when shopping for a new or used vehicle. You can compare payments for various loan terms and interest rates, which will inform your max vehicle price.

Here’s some more detail on what the fields in the form above mean.

Vehicle price –the price of the vehicle after negotiations, add-ons, and accessories.

Warranty price –the price of an extended warranty, if you choose to purchase one.

Sales tax –the sales tax rate in your area, if any.

Trade-in value –the value of your current vehicle if trading in.

Down payment –the amount of cash you expect to put down at the time of purchase.

Interest rate –the annual interest rate of the loan. This will vary based on the market rates and your credit rating.

Loan term –the number of monthly payments you’ll make on the loan.

You might also be interested in our fuel savings calculator or electric car savings calculator to see how much you’ll save in fuel costs. Opting for a more fuel efficient vehicle might result in less monthly expenses, even with an equal loan payment.