Auto Calculators
Estimate a car loan or lease payment, with full payment schedules and charts. New to car buying? Start with the Auto guide.
What Changes Your Payment
Three levers set a loan payment: how much you borrow, the interest rate, and how long you take to pay it back. A lower payment isn't always a better deal.
Loan length: $35,000 at 7%
Longer loans shrink the payment but raise the total interest.
| Term | Monthly | Total interest |
|---|---|---|
| 36 months | $1,081 | $3,905 |
| 48 months 20/4/10 limit | $838 | $5,230 |
| 60 months | $693 | $6,583 |
| 72 months | $597 | $7,963 |
| 84 months | $528 | $9,372 |
Interest rate: $35,000 over 60 months
Your credit score largely sets your rate, and used-car loans run higher than new.
| APR | Monthly | Total interest |
|---|---|---|
| 5% | $660 | $4,630 |
| 7% | $693 | $6,583 |
| 10% | $744 | $9,619 |
| 14% | $814 | $13,863 |
| 18% | $889 | $18,326 |
Put more down
Every dollar you put down is a dollar you don't pay interest on. A bigger down payment also keeps you from owing more than the car is worth once it starts depreciating.
Improve your rate
Check your credit before shopping, get pre-approved (credit unions are often cheapest), and compare that rate with the dealer's offer. A few points can mean thousands over the loan.
Watch the term creep
If the only way to afford the payment is a 72- or 84-month loan, the car is probably too expensive. You'll likely still be paying for it after the warranty ends.
Loan vs Lease
A loan pays for the whole car; a lease pays for the part of it you use up. Neither is always better - it depends on how long you keep cars and how much you drive.
| Compare | Loan (buy) | Lease |
|---|---|---|
| Monthly payment | Higher - you're paying off the full price | Lower - you pay for the expected depreciation plus a finance charge |
| At the end | You own the car, and payments stop | You return it (or buy it for the residual value) and have nothing to show for the payments |
| Mileage | Unlimited | Capped, commonly 10,000-15,000 miles a year; extra miles are often charged around $0.15-$0.30 each |
| Wear and customization | Your car, your call | Charges for damage beyond "normal wear"; modifications usually not allowed |
| Getting out early | Sell it anytime (you may owe more than it's worth early on) | Usually expensive - early termination can cost thousands |
| Long-run cost | Usually cheapest if you keep the car for years after it's paid off | Usually more expensive over time - you're always making a payment |
| Good fit for | Most people, especially if you drive a lot or keep cars 5+ years | Low-mileage drivers who want a new car every 2-3 years, or some business use |
Lease terms, decoded
- Capitalized cost
- The lease's version of the sale price - and it's negotiable, just like buying. A lower cap cost means a lower payment.
- Residual value
- The car's predicted value at lease end, set by the leasing company. A higher residual means less depreciation to pay for, so a lower payment.
- Money factor
- The lease's interest rate. Multiply by 2,400 for the approximate APR: 0.0025 × 2,400 = 6%. Ask for it - dealers can mark it up.
- Acquisition and disposition fees
- Fees charged at the start and end of the lease, often several hundred dollars each. Include them when comparing deals.
Don't put a big down payment on a lease
Money paid up front on a lease (a "cap cost reduction") just prepays the payments. If the car is stolen or totaled early, GAP coverage pays off the lease, but that down payment is usually gone. Keeping the upfront amount small limits what you can lose.
Compare total cost, not the payment
To compare fairly, add up everything you'd pay over the same period: all payments, money down, and fees - then for the loan, subtract what the car would be worth at the end. That's the real cost of each option.
Auto Loan
Buying with financing. Start from the car's price, or switch to Monthly Payment to see how much car a payment you can afford buys.
The interest rate starts at the Federal Reserve average 48-month new car loan rate at banks (7.47% as of August 2026) - dealer and credit union offers vary with your credit. Sales tax auto-fills with a generic starting point. Local/county add-ons and vehicle-specific tax rules vary, so adjust it to match your area. This tool gives estimates for planning, not a formal loan offer.
Enter your numbers and hit Calculate to see your payment breakdown.
Same car, leased instead?
The lease calculator below can run the same car. Bring over the price, rate, trade-in, and state from the loan, then compare total costs rather than monthly payments: the lease's total against the loan's total minus what the car is still worth when you're done (see Loan vs Lease). The down payment isn't copied - on a lease it's best kept small.
Auto Lease
Paying for the part of the car you use up: the drop from today's price to the residual value, plus a finance charge.
This uses the standard "depreciation + rent charge" lease formula (money factor = APR ÷ 2400) with tax applied to the monthly payment, which is how most states handle it- but a few states tax the full price or cap cost reduction upfront instead. Sales tax auto-fills with your state's general rate as a starting point; adjust for your locality. Estimates only, not a lease offer.
Enter your numbers and hit Calculate to see your lease breakdown.
Before You Sign
The calculator gives you a baseline. Check these against the paperwork.
Match the numbers
Price, APR, term, and down payment on the contract should match what you agreed to. If the payment is higher than the calculator shows for those numbers, ask what's been added.
Read the fees
Taxes, title, and registration are legitimate. Documentation fees vary by state. Add-ons like paint protection, VIN etching, or service contracts are optional, even if they're pre-printed on the form.
Know how tax works
When buying, sales tax usually applies to the full price, and many states only tax the difference after a trade-in. On a lease, many states tax each monthly payment instead of the whole car.
Budget the rest
Get an insurance quote before you buy - it can vary a lot between models. Add fuel and maintenance, and make sure the total fits the 20/4/10 rule.
New vs used, depreciation, maintenance, and EV vs gas are covered in the Auto guide.