Calculator
Car Loan Interest Calculator
Enter the amount financed, the interest rate, and the term to see the total interest on a car loan. The tool also shows the monthly payment and how large the interest is relative to the amount borrowed.
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
Interest is the cost of borrowing on top of the principal. This tool totals it for a fixed-rate car loan.
Payment = P × i ÷ (1 − (1 + i)^-n), and total interest = payment × n − P
- P — the amount financed
- i — the monthly rate, the annual rate divided by 1,200
- n — the number of monthly payments
Interest as a share of principal divides the total interest by P. At 0% the share is 0 and the total paid equals the amount borrowed. Enter the rate you were offered.
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.