DebtlessFree browser calculator
Car payment calculator
Estimate a fixed principal-and-interest payment from an amount financed, or work backward from a target monthly payment. Both calculations run in your browser and do not send or save the numbers you enter.
Estimate a monthly car payment
Enter the offer's amount financed, interest rate, and term, then calculate.
- Monthly payment
- Total interest
- Total principal and interest
Calculate amount financed by payment
Enter a target principal-and-interest payment, rate, and term, then calculate.
- Estimated amount financed
- Total interest
- Total principal and interest
This is not an affordability limit. Vehicle taxes, registration, insurance, maintenance, and other ownership costs are outside the calculation.
Formulas and assumptions
For a rate above 0%, the monthly payment is P × r ÷ (1 − (1 + r)−n). The reverse calculation is payment × (1 − (1 + r)−n) ÷ r. P is the amount financed in dollars, r is the annual interest rate percentage divided by 100 and then by 12, and n is the number of monthly payments. At 0% interest, payment is P ÷ n and amount financed is payment × n.
- The result includes principal and interest only. Add taxes, registration, insurance, warranties, and other financed charges to the amount financed if they belong in the loan offer.
- The estimate assumes a fixed interest rate, equal monthly payments, and no separate fees or skipped payments. APR can include fees and differ from the interest rate; use the contract interest rate for this principal-and-interest estimate.
- A target payment is not proof that a loan is affordable. Compare the result with the lender's Truth in Lending disclosure before signing; the contract controls the actual payment.
Source check: the Consumer Financial Protection Bureau explains fixed-payment auto-loan amortization and the amount financed, finance charge, monthly payment, and total-of-payments disclosures.
For more context, read what a Bankrate-style auto calculator shows and misses and what to check before you sign.
Turn the estimate into a payoff plan
Debtless does not price a new loan or set a card issuer's minimum. Once you know the real balance, APR, and required payment, use the debt payoff calculator to compare payoff orders and extra-payment scenarios, or keep the plan in the free iPhone app.
