Personal finance
Auto loan payment
Your inputs
Complete only the fields for your selected method. Use one consistent job or reporting period. Use zero for a known zero amount only when the field permits it. Missing costs and market rates are not added automatically. Currency selection labels amounts; it does not convert exchange rates.
How this calculation works
principal = amount before charges + financed charges less down payment and net trade-in equity where applicable; monthly payment = principal × monthly rate / (1 − (1 + monthly rate)^−months), or principal / months at zero interest.
Fixed nominal annual rate divided by twelve and month-end payments. The last payment clears the balance. Enter financed and upfront charges only once. Results use unrounded internal balances and do not determine APR, lender eligibility or actual lender payment terms. Negative trade-in equity increases the financed amount when rolled into the new loan. Sales tax, trade-in tax treatment, insurance and registration are calculated only to the extent included in your inputs.
What information do I need?
Use records for the same job, equipment or accounting period. Only the fields for your selected entry method are required. An unknown amount is not zero.
Input definitions and where to find them
- Vehicle purchase price (selected currency): Use matching records or an explicitly identified assumption for vehicle purchase price. Unknown is not the same as zero.
- Cash down payment (selected currency): Use matching records or an explicitly identified assumption for cash down payment. Unknown is not the same as zero.
- Trade-in allowance (selected currency): Use matching records or an explicitly identified assumption for trade-in allowance. Unknown is not the same as zero.
- Amount still owed on trade-in (selected currency): Use matching records or an explicitly identified assumption for amount still owed on trade-in. Unknown is not the same as zero.
- Taxes or fees included in the loan (selected currency): Use matching records or an explicitly identified assumption for taxes or fees included in the loan. Unknown is not the same as zero.
- Other cash charges paid separately (selected currency): Use matching records or an explicitly identified assumption for other cash charges paid separately. Unknown is not the same as zero.
- Fixed nominal annual interest rate (%): Use matching records or an explicitly identified assumption for fixed nominal annual interest rate. Unknown is not the same as zero.
- Number of monthly payments (months): Use matching records or an explicitly identified assumption for number of monthly payments. Unknown is not the same as zero.
Use the Where to find this value controls beside the inputs for available work-it-out helpers. Estimates remain your assumptions; a helper does not verify the source figures.
Worked example
Example amounts use US dollars (USD).
Example answer: Modeled financed principal is $24,500.00 for the illustrative inputs below.
Example inputs
- Vehicle purchase price: $30,000.00
- Cash down payment: $4,000.00
- Trade-in allowance: $6,000.00
- Amount still owed on trade-in: $3,500.00
- Taxes or fees included in the loan: $1,000.00
- Other cash charges paid separately: $250.00
- Fixed nominal annual interest rate: 7.00 %
- Number of monthly payments: 60 months
- Modeled financed principal
- $24,500.00
- Scheduled monthly loan payment
- $485.13
- Total scheduled interest
- $4,607.76
- Total scheduled loan payments
- $29,107.76
- Net trade-in equity
- $2,500.00
- Upfront cash paid separately
- $4,250.00
- Total modeled cash paid
- $33,357.76
- Total modeled cash paid excludes the noncash value of any vehicle traded. Enter taxes and fees on the basis quoted by the lender.
Calculated schedule
- Remaining principal (selected currency)
View chart values
| Month | Series | Value (Remaining principal (USD)) |
|---|---|---|
| 1 | Remaining principal (selected currency) | 24,157.7873 |
| 2 | Remaining principal (selected currency) | 23,813.57836 |
| 3 | Remaining principal (selected currency) | 23,467.36154 |
| 4 | Remaining principal (selected currency) | 23,119.12512 |
| 5 | Remaining principal (selected currency) | 22,768.85732 |
| 6 | Remaining principal (selected currency) | 22,416.54629 |
| 7 | Remaining principal (selected currency) | 22,062.18011 |
| 8 | Remaining principal (selected currency) | 21,705.7468 |
| 9 | Remaining principal (selected currency) | 21,347.23429 |
| 10 | Remaining principal (selected currency) | 20,986.63046 |
| 11 | Remaining principal (selected currency) | 20,623.9231 |
| 12 | Remaining principal (selected currency) | 20,259.09996 |
| 13 | Remaining principal (selected currency) | 19,892.14868 |
| 14 | Remaining principal (selected currency) | 19,523.05685 |
| 15 | Remaining principal (selected currency) | 19,151.81198 |
| 16 | Remaining principal (selected currency) | 18,778.40152 |
| 17 | Remaining principal (selected currency) | 18,402.81283 |
| 18 | Remaining principal (selected currency) | 18,025.03321 |
| 19 | Remaining principal (selected currency) | 17,645.04987 |
| 20 | Remaining principal (selected currency) | 17,262.84996 |
| 21 | Remaining principal (selected currency) | 16,878.42056 |
| 22 | Remaining principal (selected currency) | 16,491.74865 |
| 23 | Remaining principal (selected currency) | 16,102.82115 |
| 24 | Remaining principal (selected currency) | 15,711.62491 |
| 25 | Remaining principal (selected currency) | 15,318.14669 |
| 26 | Remaining principal (selected currency) | 14,922.37318 |
| 27 | Remaining principal (selected currency) | 14,524.29099 |
| 28 | Remaining principal (selected currency) | 14,123.88666 |
| 29 | Remaining principal (selected currency) | 13,721.14664 |
| 30 | Remaining principal (selected currency) | 13,316.05729 |
| 31 | Remaining principal (selected currency) | 12,908.60493 |
| 32 | Remaining principal (selected currency) | 12,498.77576 |
| 33 | Remaining principal (selected currency) | 12,086.55592 |
| 34 | Remaining principal (selected currency) | 11,671.93147 |
| 35 | Remaining principal (selected currency) | 11,254.88837 |
| 36 | Remaining principal (selected currency) | 10,835.41252 |
| 37 | Remaining principal (selected currency) | 10,413.48973 |
| 38 | Remaining principal (selected currency) | 9,989.105723 |
| 39 | Remaining principal (selected currency) | 9,562.246142 |
| 40 | Remaining principal (selected currency) | 9,132.896547 |
| 41 | Remaining principal (selected currency) | 8,701.042413 |
| 42 | Remaining principal (selected currency) | 8,266.669129 |
| 43 | Remaining principal (selected currency) | 7,829.762001 |
| 44 | Remaining principal (selected currency) | 7,390.306249 |
| 45 | Remaining principal (selected currency) | 6,948.287004 |
| 46 | Remaining principal (selected currency) | 6,503.689314 |
| 47 | Remaining principal (selected currency) | 6,056.498138 |
| 48 | Remaining principal (selected currency) | 5,606.698346 |
| 49 | Remaining principal (selected currency) | 5,154.274722 |
| 50 | Remaining principal (selected currency) | 4,699.21196 |
| 51 | Remaining principal (selected currency) | 4,241.494666 |
| 52 | Remaining principal (selected currency) | 3,781.107354 |
| 53 | Remaining principal (selected currency) | 3,318.034449 |
| 54 | Remaining principal (selected currency) | 2,852.260286 |
| 55 | Remaining principal (selected currency) | 2,383.769107 |
| 56 | Remaining principal (selected currency) | 1,912.545062 |
| 57 | Remaining principal (selected currency) | 1,438.572211 |
| 58 | Remaining principal (selected currency) | 961.834518 |
| 59 | Remaining principal (selected currency) | 482.3158551 |
| 60 | Remaining principal (selected currency) | 0 |
Principal and interest over modeled payments
View chart values
| Category | Value (USD) |
|---|---|
| Principal repaid | 24,500 |
| Interest paid | 4,607.761854 |
These illustrative values are not recommended rates or industry averages. Replace every example input with your own figures.
Use the result well
Review the entered assumptions and calculator limits before using these results.