Buying workbook
Check the amount financed and your trade-in equity
Reconcile the purchase total, cash down, trade allowance, payoff, interest rate, APR, and term before accepting a used car loan.
Used car loan calculator
See a monthly payment and total interest for your own financing scenario.
Your inputs stay in this browser. Defaults are illustrative; no live price, tax, loan, or VIN database is queried.
Use your written financing terms
Enter the amount actually borrowed after any down payment, the annual interest rate, the term in years, and costs paid separately upfront. The defaults are an illustrative scenario, not an available loan offer. Do not add a financed fee again as an upfront cost. A trade-in loan payoff can change the amount you need to borrow.
Formula and example
For a fixed monthly rate r and n payments, payment = P × r ÷ (1 − (1 + r) raised to −n). At zero interest, payment = P ÷ n. An illustrative $12,000 loan at 0% for four years has 48 payments of $250. With no upfront costs, principal and interest paid total $12,000.
Limits
This uses equal monthly payments, a fixed nominal interest rate divided by twelve, and no late payments or extra principal. Actual daily simple-interest contracts and payment dates can differ. APR includes certain credit costs and may differ from the interest rate used here. Compare your lender’s disclosures and total payments. Insurance, fuel, maintenance, tax, and registration are not added automatically.
CFPB auto loan comparison guidance explains why the payment alone is insufficient.
Related guides
Price & value
Compare used cars by ownership cost, not just price
Build a personal ownership-cost comparison using acquisition, financing, running costs, and a clearly labeled resale assumption.
Price & value
Trade-in, private sale, and dealer retail values explained
Understand which transaction a valuation describes before comparing trade-in estimates, private listings, and dealer prices.