Financial Tools
Auto Loan Interest Calculator
Calculate the total interest paid on your car loan amount, how it is split across the years, and how much of your first payment is interest.
Loan Amount
Interest Rate (APR)
Loan Term
Values shown are examples. Edit them to match your situation.
Interest Breakdown
| Total Interest | $0 |
| Monthly Payment | $0 |
| Loan Amount | $0 |
| Total of All Payments | $0 |
| Interest Share of Payments | 0% |
| First Payment: Interest | $0 |
| First Payment: Principal | $0 |
| Payoff Date | n/a |
Interest by Year
| Year | Principal | Interest | Balance |
|---|
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
Questions people ask
How is the total interest on my car loan calculated?
The page works out the fixed monthly payment for your loan amount, APR and term, then builds the month by month schedule. Total interest is the sum of the interest part of every payment, which also equals all payments minus the loan amount.
Why does interest take so much of the first payment?
The first month charges interest on the full loan amount, so it takes the largest share of that payment. The First Payment lines split it into interest and principal, and the Interest by Year table shows the interest share falling each year.
Why does a longer term cost more interest?
A longer term lowers the monthly payment, but the balance falls slower, so interest is charged on a larger balance for more months. Switch the term between 36 and 84 months to see the gap in Total Interest.
Does this include sales tax, fees or a down payment?
No. The page starts from the loan amount you enter, so put in the amount you will borrow after any down payment, and add any taxes or fees you plan to finance.
