Automobile Loan Payment Calculator to Calculate Monthly Car Payments

Auto Loan Payment Calculator Sign

This calculator will calculate your car, pickup, or semi-truck monthly payment and total interest cost based on the loan amount, interest rate, and the number of payments.

Plus this calculator will also optionally calculate the number of hours you will need to allocate to working to repay the auto loan principal and interest.

Finally, the results also include a printable automobile amortization schedule showing the principal and interest breakdown of each payment.

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Auto Loan Payment Calculator

Calculate the monthly auto payment and create the loan amortization schedule.

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Loan amtAuto loan amtAutomobile loan amountAutomobile loan amount:

Automobile loan amount:

Enter the dollar amount of the vehicle loan (principal amount), without the dollar sign or any commas.

$
RateInterest rateAnnual interest rateAnnual interest rate:

Annual interest rate:

Enter the annual percentage rate (APR) of the vehicle loan, but without the percent sign.

%
# of pmts# of paymentsAuto loan term in monthsAutomobile loan term in months:

Automobile loan term in months:

Enter the term (number of monthly payments) of the vehicle loan.

#
RHWReal wage/hourReal hourly wage (optional)Real hourly wage (optional):

Real hourly wage (optional):

If you would like the calculator to calculate the number of hours you will have to work to pay off the vehicle loan, enter your real hourly wage in this field. Clicking on the link will open the Real Hourly Wage Calculator in a new window.

Or, if you don't care how many hours you will need to work, just leave the field blank.

$
Schedule?Incl schedule?Include amortization schedule?Include amortization schedule?

Include amortization schedule?

If you would like the results to include an amortization schedule, select either "Monthly" or "Annual" from the drop-down menu. Otherwise select "None".

Payment:Monthly pmt:Monthly payment amount:Monthly automobile payment amount:

Monthly automobile payment:

Based on your entries, this how much your monthly auto payment will be.

Tot pmts:Total pmts:Total of all payments:Total of all monthly payments:

Total of all monthly payments:

Based on your entries, this is the total of all of your monthly car payments.

Interest:Interest cost:Interest cost:Interest cost:

Interest cost:

Based on your entries, this is how much interest you will pay between now and when you finish the auto loan repayment.

Work hrs:Work hours:Required work hours:Required work hours:

Required work hours:

Based on your entries, this is how many hours you will need to allocate to working in order to pay back the auto loan principal and interest. This does not include all of the hours you will need to work to pay for the down payment and all of the upfront and ongoing costs that come with buying and owning an automobile.

Work wks:Work weeks:Required 40-hour work weeks:Required 40-hour work weeks:

Required 40-hour work weeks:

Based on your entries, this is how many 40-hour work weeks it will take you to pay back the auto loan principal and interest. Again, this does not include all of the 40-hour work weeks it will take you to pay for the down payment and all of the upfront and ongoing costs that come with buying and owning a vehicle.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Help and Tools

Notes

Become Your Own Auto Finance Company

Auto Financing Does Not Preserve Cash Reserves

Imagine there was no such thing as credit.

How would you manage your money if you had to pay cash upfront for everything you buy?

Further, suppose that the total of all of your cash on hand was $35,000. If that were true, would you consider paying cash for a $35,000 vehicle?

No? Why not? That's right because since you can't borrow money to pay for your other necessities, you could not afford to dwindle your cash reserves by such a large margin.

Well, whether you realize or not, the amount of money you will earn in your lifetime is a fixed amount (see the Lifetime Earnings Calculator for an estimate). In other words, whatever your lifetime earnings will be, that amount is what you have for lifetime cash reserves.

What most of us fail to consider is that each time we buy something on credit (mortgages, loans, credit cards) the amount of our lifetime cash reserves shrinks by more than just the purchase price of what we are buying. They also shrink by the loan fees and interest costs.

So what does this have to do with the automobile loan payment calculator?

After you calculate the monthly car payment, pay close attention to the result in the field marked "Interest cost." And then mentally multiply that number by the number of automobiles you think you will finance in your lifetime.

Two cars in your household? Then double the result. That, my friend, is a huge chunk of your lifetime cash reserves. And for what? So that lending institutions can have the nicest buildings in town?

Become Your Own Auto Finance Company

How? First, become fully aware of the hidden costs of buying and owning an automobile by using this and other calculators in the auto calculator collection.

Next, forgo higher priced vehicles that you could afford and instead purchase their lower-priced, functional equivalents.

Then, using the difference between the monthly payment of a higher priced new car and the monthly payment of a reasonably priced used car, start to make a small car payment to yourself each month in the form a deposit to your savings account.

If you do that, each time you find yourself in need of more reliable transportation, you will then be able to finance a larger portion of the automobile loan yourself.

As your principal and interest savings add up, you will eventually be able to pay cash for your automobiles. And because you'll be paying with cash that you've already worked hard to earn, I guarantee you will be far more thrifty when it comes to car buying.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.