Car Loan Payment & Total Cost (USD)
See your real car loan cost in one summary
Quick car loan FAQs
What does this calculator show?
It summarizes your scheduled payment, principal financed, total paid, interest cost, and estimated payoff date for a simple car loan in USD.
How is principal determined?
Principal starts from price, adjusts for down payment, trade-in and trade owed, then adds tax (if any) and rolled-in fees.
What happens if APR is 0%?
We treat it as a no-interest loan: total interest is $0 and payment = principal ÷ number of payments.
Does biweekly always save money?
Our biweekly option assumes 26 equal payments per year applied as received, which usually reduces interest and shortens the payoff vs. monthly.
How to read your car loan payment summary
1. One card for the whole deal
Instead of scattering numbers across multiple widgets, this calculator mirrors your other finance tools: one aligned summary that answers “What am I really financing and what will it cost me over time?” You enter the basics once and get payment, principal, interest, and payoff in a single glance.
2. Focus on financed principal, not just sticker price
For most buyers, the financed amount is where surprises hide. Rolling tax, title/registration, doc fees, and any negative equity into the loan can quietly add thousands. By modeling principal as price plus extras minus down and net trade-in, the summary makes clear how each lever changes your monthly/biweekly payment and total interest.
3. Use clean, realistic inputs
Start with your actual agreed price. Add only the fees you know will be financed. If your region applies sales tax after trade-in, the default formula (price − trade-in) × tax% is usually close enough. If the rules differ, you can approximate by tweaking either the tax% or the fee amount until the principal matches your quote.
4. Read APR and term together
APR controls how much interest accrues each period; term controls how many periods you pay. A longer term cuts the payment but increases interest, while a shorter term does the opposite. With this layout, you can quickly try “same principal, different APR” or “same rate, 60 vs 72 months” and see how the total interest and payoff date respond without digging through tables.
5. Biweekly mode is a simple toggle
Tick the biweekly box to see what happens if you pay every two weeks (26 equal payments per year). Because that’s roughly one extra full payment per year, your payoff date pulls forward and interest usually drops. Always confirm your lender actually applies biweekly payments as they come in; if they just hold them and apply monthly, the benefit disappears.
6. Know what’s not included
The summary assumes a fixed rate, on-time payments, and no extra principal prepayments. It ignores optional products, prepayment penalties, and late fees. Use it as a clean baseline: once you understand the standardized result here, layer in any special terms from your actual contract.
7. Turn it into a negotiation tool
Because the math is transparent and aligned with your other calculators, you can sit with a quote and immediately see whether changes are real: adjust price, fees, or APR in the form and compare. If payment stays the same but total interest jumps, you’ll spot it instantly.
Formula snapshot
1. Principal: P = price + tax + fees − down − trade-in + trade owed.
2. Tax: tax = max(0, price − trade-in) × tax% (approximation; local rules may differ).
3. Payment (amortized): for rate per period r and n payments, PMT = P·r / (1 − (1 + r)−n).
4. Monthly: r = APR / (12×100), n = term months. Biweekly: r = APR / (26×100), n ≈ termMonths/12×26.
5. Total paid = PMT × n. Total interest = Total paid − P. If APR = 0, PMT = P ÷ n and interest = 0.