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Auto Loan Calculator

Explore TipRanks' Auto Loan Calculator to estimate your monthly car payments. Simply input the vehicle price, interest rate, loan term, down payment, sales tax, and fees to understand your potential loan cost. Empower your vehicle purchase decision with clarity.

Auto Loan Calculator

Price
$
Interest rate
%
Loan term (months)
Loan term (months)*
Start date
Down Payment
$
Trade-in value
$
Amount Owned on trade-in
$
Your loan estimate
Monthly payment$368.47
Loan amount$16,000.00
Total interest cost$1,686.50
Total loan payments$17,686.50
Payoff dateMar 2028
Amortization schedule
This table lists how much principal and interest are paid in each scheduled loan payment.
Date
Principle
Interest
Monthly payment
Principal balance
Apr 2024
$301.80
$66.67
$368.47
$15,698.20
May 2024
$303.06
$65.41
$368.47
$15,395.14
Jun 2024
$304.32
$64.15
$368.47
$15,090.82
Jul 2024
$305.59
$62.88
$368.47
$14,785.23
Aug 2024
$306.86
$61.61
$368.47
$14,478.36
Sep 2024
$308.14
$60.33
$368.47
$14,170.22
Oct 2024
$309.43
$59.04
$368.47
$13,860.79
Nov 2024
$310.72
$57.75
$368.47
$13,550.08
Dec 2024
$312.01
$56.46
$368.47
$13,238.07
Jan 2025
$313.31
$55.16
$368.47
$12,924.76
Feb 2025
$314.62
$53.85
$368.47
$12,610.14
Mar 2025
$315.93
$52.54
$368.47
$12,294.22
Apr 2025
$317.24
$51.23
$368.47
$11,976.97
May 2025
$318.56
$49.90
$368.47
$11,658.41
Jun 2025
$319.89
$48.58
$368.47
$11,338.52
Jul 2025
$321.22
$47.24
$368.47
$11,017.29
Aug 2025
$322.56
$45.91
$368.47
$10,694.73
Sep 2025
$323.91
$44.56
$368.47
$10,370.82
Oct 2025
$325.26
$43.21
$368.47
$10,045.56
Nov 2025
$326.61
$41.86
$368.47
$9,718.95
Dec 2025
$327.97
$40.50
$368.47
$9,390.98
Jan 2026
$329.34
$39.13
$368.47
$9,061.64
Feb 2026
$330.71
$37.76
$368.47
$8,730.93
Mar 2026
$332.09
$36.38
$368.47
$8,398.84
Apr 2026
$333.47
$35.00
$368.47
$8,065.36
May 2026
$334.86
$33.61
$368.47
$7,730.50
Jun 2026
$336.26
$32.21
$368.47
$7,394.24
Jul 2026
$337.66
$30.81
$368.47
$7,056.58
Aug 2026
$339.07
$29.40
$368.47
$6,717.52
Sep 2026
$340.48
$27.99
$368.47
$6,377.04
Oct 2026
$341.90
$26.57
$368.47
$6,035.14
Nov 2026
$343.32
$25.15
$368.47
$5,691.82
Dec 2026
$344.75
$23.72
$368.47
$5,347.07
Jan 2027
$346.19
$22.28
$368.47
$5,000.88
Feb 2027
$347.63
$20.84
$368.47
$4,653.24
Mar 2027
$349.08
$19.39
$368.47
$4,304.16
Apr 2027
$350.53
$17.93
$368.47
$3,953.63
May 2027
$352.00
$16.47
$368.47
$3,601.63
Jun 2027
$353.46
$15.01
$368.47
$3,248.17
Jul 2027
$354.93
$13.53
$368.47
$2,893.24
Aug 2027
$356.41
$12.06
$368.47
$2,536.82
Sep 2027
$357.90
$10.57
$368.47
$2,178.93
Oct 2027
$359.39
$9.08
$368.47
$1,819.54
Nov 2027
$360.89
$7.58
$368.47
$1,458.65
Dec 2027
$362.39
$6.08
$368.47
$1,096.26
Jan 2028
$363.90
$4.57
$368.47
$732.36
Feb 2028
$365.42
$3.05
$368.47
$366.94
Mar 2028
$366.94
$1.53
$368.47
$0.00
How to Use the TipRanks Auto Loan Calculator:
Vehicle Price:
Start by entering the total price of the vehicle you’re considering. This should be the listed or negotiated price before any additional fees or taxes.
Interest Rate
Input the interest rate you've been quoted or expect to receive. If unsure, check the current average car loan rates.
Loan Term:
Choose the duration for which you wish to repay the loan. Common terms include 36, 48, or 60 months, but our calculator can accommodate various durations.
Down Payment:
Enter the amount you plan to pay upfront. This reduces the principal amount that will be financed.
Trade-in Value (Optional):
If you’re trading in an old vehicle, input its value here. This will act as a credit toward the purchase of the new vehicle.
Amount Owed on Trade-in (Optional):
If there's an outstanding loan on the vehicle you're trading in, enter that amount here. This will be subtracted from the trade-in value to determine the net credit or additional amount you owe.

FAQs

What is the TipRanks Auto Loan Calculator?
The TipRanks Auto Loan Calculator is an online tool that helps users estimate their monthly car payment and the total cost of the loan based on various inputs such as vehicle price, interest rate, loan term, and more.
    How accurate is the calculator?
    Our calculator provides a close estimation based on the inputs you provide. However, exact monthly payments may vary based on individual lender terms, credit score, and other factors not considered in this tool.
      Can I account for a trade-in with this calculator?
      Yes! There are optional fields for you to input both the trade-in value of your old vehicle and any amount still owed on it.
        Does the calculator account for varying loan terms?
        Absolutely. Our calculator is flexible and allows you to select from common loan durations or input a specific term that suits your needs.
          Do I have to pay to use this calculator?
          No, the TipRanks Auto Loan Calculator is a free tool provided to help users make informed financial decisions regarding vehicle purchases.
            I'm unsure about the interest rate to input. What should I do?
            It's best to input the rate you've been quoted from a lender. If you haven't been quoted yet, you can use current average car loan rates as a starting point.
              Is my personal information safe when using this tool?
              Absolutely. The TipRanks Auto Loan Calculator does not store or share any personal information entered.