Calculator
Auto Loan Comparison Calculator
Enter two car loan offers with their rates, terms, and fees. The tool shows each payment, total cost, and APR, then says which offer costs less overall and by how much.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: AutoLoanable may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
Two car loan offers can look close on the monthly payment and still differ by thousands once you add the fees and the term.
for each offer: payment = P × i ÷ (1 − (1 + i)^-n), and total cost = payment × n + fee
- P — the amount financed
- i — the monthly rate, the annual rate divided by 1,200
- n — the number of monthly payments
- fee — any up-front charge added to the cost
The APR is the rate that equates the present value of the payments to the amount received after the fee. A lower payment from a longer term can still cost more, so compare total cost and APR. Enter the rates and fees from your own offers.
What changes your result
Only a few inputs move the number materially. In rough order of impact:
| Input | Effect on the payment | Effect on total cost |
|---|---|---|
| Amount financed | Directly proportional | Directly proportional |
| Interest rate / APR | Directly proportional | Directly proportional |
| Term (months) | Lower payment when longer | Higher total interest when longer |
| Down payment | Lowers the payment | Lowers total interest |
| Trade-in equity | Lowers the amount financed | Lowers total interest |
| Sales tax and fees | Raises the amount financed | Raises total cost |
Enter the rate you were actually offered. This site is not a lender and does not publish rates — a quoted rate is only meaningful next to the term and the amount financed.