This auto loan calculator is built for comparing financing offers side by side, whether you’re weighing a dealership loan against a bank or credit union offer, or deciding between a new and used vehicle purchase. Enter the loan amount, term, and interest rate to see your monthly payment and total interest cost, then adjust any of the three to see how it changes the outcome. If you’re not sure which financing source tends to offer better terms, our comparison of dealer financing vs. bank auto loans lays out the pros and cons of each, and our guide to new vs. used car auto loans explains why interest rates often differ between the two.
It's also worth understanding exactly what you're comparing when you look at loan offers, since the advertised interest rate and the actual APR aren't always the same thing. Our article on APR vs. interest rate clears up that distinction so you can compare offers accurately. If you already have a loan and want to see whether refinancing makes sense, read how to refinance your auto loan and save money, or if you're deciding whether to pay off your loan faster, see whether prepaying your auto loan early is worth it. For a more detailed monthly payment breakdown, you can also try our car loan calculator or car payment calculator.