Auto Loan Calculator

How much will my monthly car payment be? How much is my Auto loan going to cost me in the long run? Use our auto loan calculator and find out! Just enter some basic information about your car and we'll do the rest.

Calculate Your Loan Payment

Your Estimated Auto Payment


Car Price
Down Payment
Trade-In Value
Estimated Sales Tax (undefined%)
+ $NaN
Total Loan Amount
Total Interest Paid(Over Life of Loan)
Total Loan & Interest Paid
Monthly Payment

How to use the auto loan calculator?

Our auto loan calculator will give you an idea of how much car you can afford to pay per month based on the information provided. Compare costs to ensure the calculated auto loan payment aligns with your monthly budget. Below are some questions to consider as you fill out the fields in our car loan calculator.

How much are you looking to borrow?

In the form field above, enter the amount you would need to finance the car you're interested in. Auto loans are typically secured with a lien against the car itself. You'll need to qualify for the purchase price of the vehicle to get an auto loan for it. Therefore, most people will borrow less than what they are able to buy the vehicle for.

For how long?

Auto loans can either be negotiated for a shorter term (e.g., 36 months) or longer term (e.g., 60 months). The longer your loan terms, the lower your monthly payments will be at any given interest rate. If you plan on keeping your car after paying off the loan, then it may not matter much how long your term is since you'll have the car free and clear. However, if you're planning on trading in the vehicle at the end of your loan term, then it may be in your interest to go with a shorter term so that you can get another car right away. Please keep in mind that the length of your loan may affect your interest rate.

Is your vehicle new or used?

Auto loans are typically more affordable for new cars. Auto loan lenders will often require a lower down payment and better credit score if you're purchasing a new car compared to an older one. The actual value of your trade-in vehicle is also likely to be higher when trading in for a newer model, which may improve the terms on your next auto loan.

Interest rate

The Auto Loan Calculator gives a good idea of what you can expect to pay in the long run. Auto loan interest rates will vary depending on your credit score, down payment amount, and the model year of the car that you're buying. It is important to consider these factors because they have a large impact on how much money you'll need to borrow for your new or used car purchase.

How to calculate APR on a car loan

Auto loan interest rates are typically quoted as APR, or annual percentage rate. This measure considers both the purchase price of your car and how much money you borrow for it. Auto loans are usually paid off in monthly installments over a specified period, so having an idea of what to expect from your monthly payment is just half of what you'll need to know to calculate your auto loan calculator payment. You will also need to know the total amount that you'll be paying back on your car loan over the length of your term. You should confirm your APR and any other finance charges prior to completing your auto loan.

Understanding your results

The auto loan calculator will display your estimated monthly auto payment. The calculator will display the breakdown of the different cost associated with your auto loan.

Get pre-qualified to avoid overpaying

Now that you have an idea of your average monthly car payment, take the next step by getting pre-qualified for an auto loan with Rocket Auto.

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