Auto Loan Calculator
Calculate your monthly car payment, total interest, and total cost including sales tax and fees.
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How to Calculate
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n - 1]
Where P = loan principal (vehicle price minus down payment), r = monthly interest rate (annual rate / 12), n = total number of monthly payments (loan term in years × 12).
Frequently Asked Questions
How much car can I afford?
Financial experts recommend spending no more than 10-15% of your monthly take-home pay on a car payment, and no more than 20% total including insurance and maintenance.
Should I get a 60-month or 72-month auto loan?
A shorter loan term (60 months) means higher monthly payments but less total interest. A longer term (72 months) lowers payments but costs more overall and increases the risk of being upside-down on the loan.
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