Check out this free Car Loan Calculator - Comparewise

Car loan calculator

Jumpstart your dreams with the lowest rates available.

Loan amount ($5000 - $75,000)

Loan duration (1 Year - 8 Year)

Credit Rating

You could be paying as little as

Monthly

Bi-Weekly
Weekly

*The calculation is based on the information you provide and is for illustrative and general information purposes only. This should not be relied upon as specific financial or other advice.

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Car Loan Calculator

Using car loan payment calculator can help you understand what kind of car is in your budget. After all, your monthly payment is the immediate cost you’ll have to deal with on a regular basis. If you can’t afford the monthly payments on a loan for a particular car, then you probably can’t afford that car.

Keep in mind that you might only be able to get a loan worth 80% of your car’s value. This means that you might be required to pay the other 20% upfront. Paying some money upfront can actually be a good thing because your entire payment goes directly to reducing the principal amount owing on the car. Any part of the purchase price covered by the loan is subject to interest, which will eat away at the regular payments you make.

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Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

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June 29, 2022
Fact Checked

FAQs about our
Car Loan Calculator

How do you use this car loan payment calculator?
  1. Enter the amount you want to borrow to buy a new car under Loan amount. This might not be the same as the cost of your car, since many lenders require a down payment.
  2. Write the amount of time you have to pay off your car loan under Loan terms (in years). If your loan term is in months, divide it by 12 first.
  3. Enter the interest rate you expect to pay on a car loan under Interest rate. If your car loan comes with fees, enter the annual percentage rate (APR) instead.
  4. Click Calculate.

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