Car Loan Calculator
Estimate car loan payments
Work out the payment on a loan to buy a car, taking into account your down payment and the value of any vehicle you trade in. Useful before visiting the dealer: you need the price, down payment, interest rate and term in months.
Calculate your car payment
Result
Monthly payment
€386.66
- Amount financed
- €20,000.00
- Total interest
- €3,199.35
- Total repaid
- €23,199.35
Formula version: 1.0.0
Show year-by-year breakdown
| Year | Paid | Interest | Principal repaid | Balance |
|---|---|---|---|---|
| 1 | €4,639.92 | €1,103.81 | €3,536.11 | €16,463.89 |
| 2 | €4,639.92 | €885.72 | €3,754.20 | €12,709.69 |
| 3 | €4,639.92 | €654.16 | €3,985.76 | €8,723.93 |
| 4 | €4,639.92 | €408.33 | €4,231.59 | €4,492.34 |
| 5 | €4,639.67 | €147.33 | €4,492.34 | €0.00 |
How to use the car loan calculator
- Enter the vehicle price.
- Subtract your down payment and, if you trade in a used car, its value.
- Enter the interest rate and term, then review the payment and interest.
Car financing formula
Financed = price − down payment − trade-in · Payment = F × i / (1 − (1 + i)^−n)
What each variable means
- F
- amount financed
- i
- monthly rate
- n
- number of payments
The more you pay up front, the less you finance and the less interest you pay.
Car loan example
A €25,000 car with €5,000 down: you finance €20,000. At 6% over 60 months, the payment is €386.66 and you'll pay €3,199.35 in interest.
Illustrative example with the data shown; not a guaranteed outcome.
Assumptions and limitations
- Fixed-rate loan with a constant payment.
- Fees, insurance and final balloon payments are not included.
Frequently asked questions
Does it work for balloon financing?
No. Offers with a large final payment are calculated differently.
Is a short term better?
A short term raises the payment but lowers total interest.
Related calculators
See loans & mortgages calculatorsIndicative result for information only; not financial or tax advice. Read the legal notice · How we calculate results
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