Car Payment Calculator

This car payment calculator figures your estimated monthly car loan payment.

Just enter your purchase price, down payment, loan term, and interest rate and the calculator does all the hard work. It also works for boats, trucks, and motorcyles!

Car purchase price ($):
Down payment ($):
Trade-in allowance ($):
Interest Rate (%):
Loan term (# months):
Loan amount:
Monthly car payment:


What Will Your Monthly Car Payment Be?

Thinking about buying a car with a loan?

Don’t know what the payment will be, or if you can afford it?

It’s important to figure out your monthly car payment to see if it fits your budget.

Thankfully, this Car Payment Calculator offers fast results, revealing your monthly car payment to help you make the right purchase decision.

Simply enter the car purchase price, down payment, trade-in allowance, interest rate, and loan term. Click “Calculate Car Payment” and this calculator will do all the math for you revealing the monthly car payment.

Consider Your Budget

Buying a car is usually the second most expensive purchase you’ll make next to buying a home. It’s important to weigh your options carefully.

The easiest way to determine how much to budget for a car is to calculate how much you can comfortably afford to spend each month. Try out our Budget Calculator to determine an appropriate transportation budget.

The Car Payment Calculator will then help you find the monthly payment for any vehicle, including boats, trucks, recreational vehicles and motorcycles. Be smart by getting a vehicle that fits well within your budget.

Getting The Best Deal

Before you sign on the dotted line with the auto dealer, make sure you get the best price. Here are some tips to consider when shopping for your next car:

  • Ask for quotes from different car dealers – Calculate and compare the options. Negotiate and let dealers know that you are also gathering quotes from other dealers.
  • Keep your method of payment to yourself until you buy – You may get a better price if the dealer thinks you will finance the car. Many dealers will negotiate more aggressively on price if they believe they will earn back those concessions through financing. Even if you are going to finance, but are able to provide a down payment, keep this information to yourself until the appropriate time.
  • Don’t be pressured by sales strategies – Some salespeople will tell you that the car price will increase in the coming days so you’ll be pressured to buy immediately. Don’t fall for these high pressure tactics.
  • Shop around for the best financing deal – If you are not happy with the interest rate the financing company offers you, check with other companies. Stick to your budget. Be patient and don’t let the financing agents pressure you with something you cannot afford. Keep on negotiating.
  • After negotiating a satisfactory price, ask your dealer for written confirmation of the final price – Ensure no other fees are added to the quote. This document is a way to bind the dealer and lender to an agreement.
  • Try calling ahead of time to several dealers – Tell them you are going to purchase a particular car at a specific time (maybe by the end of the week). Creating a bidding war where various dealers lower prices to beat their competitor and capture your business!
  • Make a large down payment or trade in a vehicle – The less loan you start with, the lower your monthly payment. Consider paying cash for all or a large portion of your purchase!

Other Expenses When Buying A Car

There are several other expenses associated with buying a car. You need to pay for insurance, registration, and modifications to fit your standards. The more expensive the car, the higher the insurance will cost.

Once you have a car in mind, ask the dealer to include all the costs related to the purchase so you can make a realistic calculation of your payment – not only your monthly payment, but your upfront costs as well.

Final Thoughts

Buying a car is a major financial decision. Don’t be hasty. Take your time and negotiate.

Although it’s tempting to buy a car right away when you need one, consider alternative forms of transportation until you have done your due diligence. Pay attention to your budget. Negotiate better deals. Ask friends and family if you’re being reasonable – encourage them to be straightforward.

Use this auto loan payment calculator to help determine if you can afford a car loan. Will you really be able to pay on time every month for the duration of your loan term? Be realistic and honest with yourself.

Hopefully these tips have helped you so that you can drive off the car lot confident you got the best deal.

Car Payment Calculator Terms & Definitions

  • Car Purchase Price – The amount you pay for buying a car (include all fees figured into your loan).
  • Down Payment – The initial payment you pay the dealer or financing company which is subtracted from the car purchase price.
  • Trade-In Allowance – The assessed value of your old car deducted from the purchase price.
  • Interest Rate – The percentage rate for your loan in case you opt for financing.
  • Loan Term – The number of months to pay off your car loan.
  • Loan Amount – The amount borrowed after subtracting your down payment and trade-in allowance.
  • Monthly Car Payment – How much you’ll have to pay every month for the duration of your loan term.

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