Buying a car is exciting — but knowing your monthly payment is essential before you sign on the dotted line. Use our free Auto Loan Calculator to estimate your monthly payments, total interest costs, and how different loan terms affect your budget.

Our calculator breaks down your car loan payment into clear, easy-to-understand numbers. Simply enter:

1. Vehicle price (or loan amount).
2. Down payment.
3. Loan term (36–84 months).
4. Interest rate (APR) - No need to enter this, we will bring in interest rates aligned to the term you selected
5. Trade-in value (optional).

You’ll instantly see your monthly payment, total cost of the loan, and total interest paid.

• Vehicle price: $25,000
• Down payment: $3,000
• Loan term: 60 months
• Interest rate: 6% APR

Estimated results:

• Monthly payment: $425
• Total interest: $2,516
• Total loan cost: $27,516

his example shows how loan term and APR directly impact your payment and the overall cost of financing.

• Plan your budget – Know what kind of car you can afford before you shop.
• Compare loan terms – See the difference between a 48-month vs. 72-month loan.
• Test interest rates – Understand how credit scores and lender offers change your payment.
• Avoid surprises – Get a clear picture of the total cost of ownership.

• Loan Term – Longer terms lower your monthly payment but increase total interest.
• APR (Annual Percentage Rate) – Even a small change in rate can add thousands over time.
• Down Payment – Larger down payments reduce the loan balance and monthly cost.
• Trade-In Value – Applying trade-in credit lowers the amount you need to finance.
• Credit Score – Stronger credit can qualify you for lower interest rates.

• This calculator provides estimates only. Actual rates and terms vary by lender.
• Taxes, title, registration, and dealership fees are not included.
• Always compare offers from multiple lenders to find the best financing option.

What is a good interest rate for an auto loan?

Rates vary by credit score, loan term, and lender. As of this year, average auto loan rates range from about 5%–9% for new cars.

Is a longer loan term better?

Longer terms lower monthly payments but increase total interest. Shorter terms cost more each month but save money overall.

Can I get approved for an auto loan with bad credit?

Yes, but you may pay a higher interest rate. Using a calculator helps you see how the rate impacts your monthly payment.

Does a bigger down payment help?

Yes. A larger down payment reduces your financed amount, lowers your payment, and may improve loan approval odds.

Before you visit the dealership or apply for financing, take a few minutes to see what fits your budget. With SmartCalc.ai’s Auto Loan Calculator, you can plan smarter, compare options, and feel confident about your next car purchase.