Auto Loan Calculator
Find your monthly car payment, the total interest you’ll pay, and a full amortization schedule. Subtract any down payment and trade-in from the price to get the loan amount.
How to use it
Enter the amount you’re financing — that’s the car’s price minus your down payment and any trade-in value — along with the APR your lender quoted and the loan term in months or years. The calculator shows your fixed monthly payment, total interest over the life of the loan, and a month-by-month breakdown you can download.
Auto loans amortize the same way as mortgages: early payments are mostly interest, later payments mostly principal. A bigger down payment or a shorter term both reduce the total interest you pay. Add an extra monthly payment to see how fast you can be debt-free.
Frequently asked questions
What should I enter as the loan amount?
Use the vehicle’s out-the-door price minus your cash down payment and any trade-in credit. Don’t include taxes/fees unless you’re rolling them into the financing.
How does the term change my payment?
A longer term lowers the monthly payment but raises total interest; a shorter term does the opposite. Compare a 36-, 48- and 60-month term to see the trade-off.
Should I make a larger down payment?
A larger down payment reduces the amount financed, lowering both your monthly payment and total interest, and helps you avoid being “underwater” on the loan.
BriskToolbox provides estimates for general information only and is not financial advice.