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Car Loan Calculator

Loan & Credit

Calculate monthly car loan payments and total financing cost. Factor in loan amount, interest rate, and loan term for auto financing.

$
$

20.0% of vehicle price

Loan amount

$20,000.00

6.5%
0.5%25%

Car Loan Summary

Monthly payment

$391.32

for 60 months

Loan amount

$20,000.00

Total interest

$3,479.38

Total cost of car

$28,479.38

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Down payment tip

A higher down payment reduces your loan amount, monthly payment, and total interest paid. Aim for at least 10–20% of the vehicle price if possible.

Repayment schedule by year

5 rows
Car loan yearly amortization
YearPaymentPrincipalInterestBalance
Year 1$4,695.88$3,498.89$1,196.98$16,501.11
Year 2$4,695.88$3,733.22$962.65$12,767.89
Year 3$4,695.88$3,983.24$712.63$8,784.64
Year 4$4,695.88$4,250.01$445.87$4,534.64
Year 5$4,695.88$4,534.64$161.24$0.00