How it works
Enter the final amount financed after your down payment and trade-in, including any financed taxes and fees. The calculator assumes equal monthly payments, with the first payment one month after the loan begins.
Inputs and units
| Input | Example value | What to enter |
|---|---|---|
| Amount financed | $30,000.00 | Required unit: $. Must be greater than zero. |
| Annual interest rate | 6 % | Enter the percentage as a number: for 15%, enter 15. Use the annual rate. Use a non-negative value. Allowed range: 0–100. |
| Loan term | 60 months | Required unit: months. Use a whole number. Must be greater than zero. Allowed range: 1–120. |
Worked example
Show example inputs and results
This example is generated by the same calculation engine using the starting values in the form. Your own inputs produce your own result.
- Amount financed
- $30,000.00
- Annual interest rate
- 6 %
- Loan term
- 60 months
Complete example results
- Monthly loan payment
- $579.98
- Total interest
- $4,799.04
- Total repayment
- $34,799.04
- Loan principal
- $30,000.00
Reading the result
Match the rate period to the payment period. Fees and taxes absent from the inputs are not added automatically; compare totals with the same cost coverage.
A smaller payment can cost more overall
Compare the same amount financed and interest rate over different terms. A longer term spreads principal across more payments, but interest runs for longer. Read total interest alongside the monthly payment.
Keep the borrowing amount consistent
For a fair comparison, use the same financed amount after down payment, trade-in and financed fees. Comparing different vehicle prices or different down payments changes more than the repayment term.
Compare different scenarios
Inputs held constant: Amount financed: 30,000 $ · Annual interest rate: 6 %.
| Loan term | Monthly loan payment | Total interest |
|---|---|---|
| 48 months | $704.55 | $3,818.44 |
| 60 months | $579.98 | $4,799.04 |
| 72 months | $497.19 | $5,797.44 |
Questions and answers
Can I use the example values for my own calculation?
The example values illustrate the calculation. Replace every input with your own information, especially dates, rates and the selected operation.
Should I enter the sticker price?
Use the amount you actually plan to borrow. A sticker price can exclude sales tax, title fees and add-ons, while a down payment or trade-in can lower the principal.
Why are some results rounded?
Results display up to 8 decimal places. Calculations use the unrounded values; very small values use scientific notation. JavaScript floating-point arithmetic can introduce tiny rounding differences.
Are my inputs sent to a server?
The calculator processes inputs in your browser. Its code does not send your values to a server.
Data version: 2026-10-08 · Methods & accuracy