Auto Loan Calculator
Drag to adjust
Your numbers
Your monthly car payment
$672.80
$33,600 financed over 60 months
💡 You'll pay $6,768 in interest over 5 years. The shorter your loan, the less this is.
- Vehicle (financed principal)$31,500
- Sales tax$2,100
- Interest$6,768
- Down + trade-in$3,500
- Amount financed
- $33,600
- Sales tax
- $2,100
- Total interest paid
- $6,768
- Total cost of loan
- $40,368
⚖️ Compare two scenarios
Change one thing and see both loans side by side. Everything else stays exactly as you set it above.
| Figure | 60 moYour numbers | 36 moCompared | Difference |
|---|---|---|---|
| Monthly payment | $672.80 | $1,044.71 | +$371.91 |
| Amount financed | $33,600 | $33,600 | same |
| Sales tax | $2,100 | $2,100 | same |
| Total interest | $6,768 | $4,009 | −$2,759 |
| Total of all payments | $40,368 | $37,609 | −$2,759 |
| Paid off in | 5 yr | 3 yr | 2 yr sooner |
Only the field you picked changes — except the sales tax bill, which follows the price and the trade-in, so comparing two prices compares two tax bills too. Total interest and the total of all payments are the loan itself; the down payment and trade-in are money you've already handed over either way.
📅 Amortization schedule
How each year of the car loan splits between principal and interest, and what you still owe at the end of it. Switch to Months to step through the payments themselves.
| Year | Principal | Interest | Balance left |
|---|---|---|---|
| 1 | $5,758 | $2,315 | $27,842 |
| 2 | $6,203 | $1,870 | $21,639 |
| 3 | $6,683 | $1,391 | $14,956 |
| 4 | $7,200 | $874 | $7,756 |
| 5 | $7,756 | $317 | $0 |
| Total | $33,600 | $6,768 | $0 |
Interest is charged on the balance you still owe, so early years are mostly interest and later years mostly principal. Assumes every payment is made on time and the rate never changes. It also assumes no extra principal is paid. The balance is what you'd owe on the loan, which isn't the same as what the car is worth.
Auto Loan Calculator · Far Better Off
https://farbetteroff.com/calculators/auto-loan-calculator
Open that link to get this calculator back with these exact numbers. Estimates for education only — Far Better Off is not a lender or a financial advisor, and these results are not financial advice.