Car Loan Calculator

Calculate your monthly car payment and total loan cost. Free car loan calculator for new and used vehicles.

loan

Result

495.03

Breakdown

Total Paid
29,702
Total Interest
4,702

Frequently Asked Questions

How is loan interest calculated?▼
Most loans use amortized interest where each payment covers accrued interest plus a portion of principal. The formula is M = P[r(1+r)^n]/[(1+r)^n-1].
What is APR vs interest rate?▼
The interest rate is the cost of borrowing the principal. APR includes the interest rate plus fees, giving the true yearly cost of the loan.

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