Auto Loan Amortization Calculator
Calculate your monthly auto loan payments, total interest, and full amortization schedule. Plan your car purchase with confidence.
Published by:
isCalculator Editorial Team
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How to use this tool?
Follow these steps to calculate your auto loan amortization:
- Enter Loan Amount – The total price of the vehicle (e.g., 25000 for $25,000).
- Enter Annual Interest Rate – As a percentage (e.g., 5.5 for 5.5%).
- Enter Loan Term – In months (e.g., 60 for 5 years).
- Enter Down Payment (optional) – Any amount paid upfront (e.g., 5000).
- Click Calculate.
The calculator shows:
- Monthly Payment – Your fixed payment each month.
- Total Interest – Total interest paid over the loan term.
- Total Cost – Loan amount plus total interest.
- Amortization Schedule – A table breaking down each month’s payment into principal and interest, plus the remaining balance.
All monetary values are in dollars ($). The formula used is the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n – 1].
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Frequently Asked Questions
Enter the loan amount, annual interest rate, loan term in months, and optional down payment. Click Calculate to see your monthly payment, total interest, and a full amortization schedule.
An amortization schedule shows each monthly payment broken down into principal and interest, and the remaining loan balance after each payment.
Yes, you can enter a down payment amount. The calculator will subtract it from the loan amount before computing payments.
If the interest rate is zero, the monthly payment is simply the loan amount divided by the number of months, with no interest.
