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Car payment

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Loans & budgets

Car payment

How much will my car payment be each month?

Example values are filled in. Replace them with your own.
Selects the unit only; does not convert exchange rates.
USD
Use the chosen currency. Thousands separators are accepted.USD 30,000.00
USD
The part of the vehicle price paid upfront without a loan.USD 5,000.00
Enter the annual rate quoted by the lender or account. For 5% per year, enter 5.
One year is 12 months. Enter the time until the loan is fully repaid.3 years = 36 months
Decimal display settingsMoney is rounded according to the selected currency.
Example calculation

Borrowing USD 25,000.00 at 5% per year for 3 years means paying about USD 749.27 each month. That includes both principal and interest.

Your monthly payment
USD 749.27
Principal + interest
Payments in the first year
USD 8,991.27
Total of 12 payments
Total interest
USD 1,973.81
The extra cost of borrowing
Total paid over the full term
USD 26,973.81
All scheduled payments combined

This assumes equal monthly payments, a fixed interest rate and payments at each month-end.

Use the same currency for all amounts. Taxes and fees are excluded unless an explicit field is provided.

When do you pay the interest?

Inside your first monthly payment

Paying back borrowed money
USD 645.11
Interest
USD 104.17

As the balance falls, less of each payment goes to interest and more goes to principal. The loan payment stays the same.

Average interest per monthUSD 54.83Total interest divided by the number of payments. This is not the actual interest charged each month.

The tables show loan principal and interest only, excluding other monthly costs.

See payments by year+
See payments by year
PeriodPaymentPrincipal repaidInterestLoan remaining
Year 1 (12 months)USD 8,991.27USD 7,921.16USD 1,070.11USD 17,078.84
Year 2 (12 months)USD 8,991.27USD 8,326.42USD 664.85USD 8,752.42
Year 3 (12 months)USD 8,991.27USD 8,752.42USD 238.85USD 0.00
See payments by month+
See payments by month
PeriodPaymentPrincipal repaidInterestLoan remaining
Month 1USD 749.27USD 645.11USD 104.17USD 24,354.89
Month 2USD 749.27USD 647.79USD 101.48USD 23,707.10
Month 3USD 749.27USD 650.49USD 98.78USD 23,056.61
Month 4USD 749.27USD 653.20USD 96.07USD 22,403.40
Month 5USD 749.27USD 655.92USD 93.35USD 21,747.48
Month 6USD 749.27USD 658.66USD 90.61USD 21,088.82
Month 7USD 749.27USD 661.40USD 87.87USD 20,427.42
Month 8USD 749.27USD 664.16USD 85.11USD 19,763.26
Month 9USD 749.27USD 666.93USD 82.35USD 19,096.34
Month 10USD 749.27USD 669.70USD 79.57USD 18,426.63
Month 11USD 749.27USD 672.49USD 76.78USD 17,754.14
Month 12USD 749.27USD 675.30USD 73.98USD 17,078.84
Month 13USD 749.27USD 678.11USD 71.16USD 16,400.73
Month 14USD 749.27USD 680.94USD 68.34USD 15,719.79
Month 15USD 749.27USD 683.77USD 65.50USD 15,036.02
Month 16USD 749.27USD 686.62USD 62.65USD 14,349.40
Month 17USD 749.27USD 689.48USD 59.79USD 13,659.91
Month 18USD 749.27USD 692.36USD 56.92USD 12,967.56
Month 19USD 749.27USD 695.24USD 54.03USD 12,272.32
Month 20USD 749.27USD 698.14USD 51.13USD 11,574.18
Month 21USD 749.27USD 701.05USD 48.23USD 10,873.13
Month 22USD 749.27USD 703.97USD 45.30USD 10,169.16
Month 23USD 749.27USD 706.90USD 42.37USD 9,462.26
Month 24USD 749.27USD 709.85USD 39.43USD 8,752.42
Month 25USD 749.27USD 712.80USD 36.47USD 8,039.61
Month 26USD 749.27USD 715.77USD 33.50USD 7,323.84
Month 27USD 749.27USD 718.76USD 30.52USD 6,605.08
Month 28USD 749.27USD 721.75USD 27.52USD 5,883.33
Month 29USD 749.27USD 724.76USD 24.51USD 5,158.57
Month 30USD 749.27USD 727.78USD 21.49USD 4,430.79
Month 31USD 749.27USD 730.81USD 18.46USD 3,699.98
Month 32USD 749.27USD 733.86USD 15.42USD 2,966.13
Month 33USD 749.27USD 736.91USD 12.36USD 2,229.21
Month 34USD 749.27USD 739.98USD 9.29USD 1,489.23
Month 35USD 749.27USD 743.07USD 6.21USD 746.16
Month 36USD 749.27USD 746.16USD 3.11USD 0.00

Displayed amounts are rounded. Actual bills may differ with payment dates, fees and lender rounding.

See formula and assumptions

The price minus down payment is amortized using fixed monthly payments.

Vehicle price
Use the chosen currency. Thousands separators are accepted.
Upfront payment
The part of the vehicle price paid upfront without a loan.
Yearly interest rate
Enter the annual rate quoted by the lender or account. For 5% per year, enter 5.
Repayment period
One year is 12 months. Enter the time until the loan is fully repaid.

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