Can I use this calculator to compare different loan terms side by side?

Yes, you can run the calculator multiple times with different term lengths to see how monthly payments and total interest change, helping you choose a term that fits your budget.

Does the calculator include sales tax and registration fees in the total cost?

No, it only calculates based on the vehicle price, down payment, interest rate, and loan term. You would need to add taxes and fees separately.

Is the interest rate shown the actual rate I’ll get from a lender?

The rate you enter is used for the calculation; your actual offered rate will depend on your credit profile, lender, and current market conditions.

Can I calculate a monthly payment if I only know the total loan amount and want a target payment?

You can adjust the loan term and down payment until the estimated monthly payment matches your target, though the tool is designed to start from the vehicle price rather than a desired payment.

Loans & MortgagesTool Review

Auto Loan Calculator

Provided byNerdWallet Financial Calculatorsnerdwallet.com

Calculates monthly auto loan payments and total cost from price, rate, and term.

One of 4 options for Auto Loan Calculator

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Finance calculator free auto Personal finance calculators calculators loans

Screenshot of Auto Loan Calculator on NerdWallet Financial Calculators — nerdwallet.comOpen the live tool →

About this tool

What Auto Loan Calculator does

An auto loan calculator that lets you estimate monthly payments and the total cost of financing by entering the vehicle price, down payment, annual interest rate, and loan term. The tool processes these figures to project a detailed payment schedule, showing both the required installment amount and the total cost of borrowing over the full term. NerdWallet’s version is embedded within a broader personal finance site that also offers loan comparison guides, credit score insights, and refinancing advice, giving users context beyond a bare calculator. While other calculators focus purely on the math, this one sits inside a resource that explains how interest, down payment size, and loan length affect long-term costs, helping borrowers understand the full financial picture before committing.

Step by step

How to use the NerdWallet Financial Calculators Auto Loan Calculator

1
Enter the vehicle's purchase price in the price field
2
Input the down payment amount you plan to put down
3
Key in the annual interest rate offered by your lender
4
Select the loan term in months or years to calculate monthly payments and total cost
5
Review the output showing estimated monthly payment and total amount paid over the loan term

Is it right for you

Best for

Best for car buyers who want to see how different down payments, rates, and loan terms affect monthly obligations before visiting a dealership.

Limitations

Results are estimates based on input values and may not include taxes, fees, or insurance
Does not factor in trade-in value or manufacturer incentives unless manually entered
Output assumes a fixed interest rate for the entire loan term

Questions

Auto Loan Calculator FAQ

Can I use this calculator to compare different loan terms side by side?: Yes, you can run the calculator multiple times with different term lengths to see how monthly payments and total interest change, helping you choose a term that fits your budget.
Does the calculator include sales tax and registration fees in the total cost?: No, it only calculates based on the vehicle price, down payment, interest rate, and loan term. You would need to add taxes and fees separately.
Is the interest rate shown the actual rate I’ll get from a lender?: The rate you enter is used for the calculation; your actual offered rate will depend on your credit profile, lender, and current market conditions.
Can I calculate a monthly payment if I only know the total loan amount and want a target payment?: You can adjust the loan term and down payment until the estimated monthly payment matches your target, though the tool is designed to start from the vehicle price rather than a desired payment.

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