Auto Loan & Refinance Calculator
Know your monthly payment before you walk into the dealership — and find out if refinancing would save you money. Enter your loan details and see a complete amortization summary.
Calculate your car loan payment
Monthly payment
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Total interest paid
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Total paid
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Monthly savings
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Lifetime savings (interest)
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Break-even point
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Amortization summary
Showing year-end balances. Click to expand full monthly table.
Show full monthly amortization
Calculations assume a standard fixed-rate amortizing loan with equal monthly payments. Does not include origination fees, pre-payment penalties, or gap insurance unless entered above. Rates shown are illustrative — get actual rates from your lender or credit union.
This calculator provides estimates only. Actual ownership costs vary by driving habits, vehicle condition, local rates, and market conditions. Figures are general information — not financial, legal, or tax advice. Confirm with your insurer, lender, or a qualified advisor before you buy.
Why dealers love long loan terms
The monthly payment that dealers quote is often framed to obscure the total interest cost. A 72-month loan at a slightly higher rate can cost $2,000+ more over the life of the loan vs. a 48-month loan. This tool shows the full picture — and the refi calculation shows whether you're leaving money on the table.
How to use this calculator
- 1 Enter your loan amount, interest rate (APR), and term.
- 2 Read the monthly payment and total interest paid.
- 3 Switch to Refinance mode: enter your current balance and new rate to see the payment delta and lifetime savings.
- 4 Use the amortization table to see the principal/interest split over time.
Frequently asked questions
What is a good auto loan interest rate?
As of mid-2026, new-car loan rates from banks and credit unions typically range from about 5%–9% depending on your credit score; dealer financing often runs higher. Used-car rates are typically 1–3 percentage points higher. Shop at least three lenders before accepting dealer financing.
Should I refinance my auto loan?
Refinancing makes sense if current rates are lower than your existing rate or your credit score has improved since you took the loan. Use the Refinance mode in this calculator to see your monthly savings and break-even point (how many months to recover any fees). Generally worthwhile if you save $500+ over the remaining term.
How does amortization work on a car loan?
In the early months, most of your payment goes to interest; in later months, more goes to principal. This calculator's amortization table shows the exact split each month so you can see when you'll own more of the vehicle than the loan balance (building equity).
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