Car payment calculator.

A car payment depends on the price, the down payment, the APR, and the term. A $32,000 car with 10% down finances $28,800. At an example 7.5% APR for 60 months, the payment is $577.09 and interest totals $5,825.58. A 15% down payment on a 72-month loan drops the payment to $470.29.

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Car payment from a down payment percent

Type the down payment as a percent of the price, the way dealers and lenders often talk about it.

Term
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Monthly paymentcalterix
$577.09
$28,800.00 financed after $3,200.00 down (10%) at 7.5% APR for 60 months.
  • Down payment$3,200.00
  • Amount financed$28,800.00
  • Total interest$5,825.58
  • Total of all payments$34,625.58
  • Monthly payment$577.09
Estimates only. Your lender sets the real APR, fees, and terms. Tax and fees are not included unless you add them to the price.

Down payment percent and your payment

Many buyers think of a down payment as a share of the price, such as 10% or 20%. The calculator turns that percent into dollars, subtracts a trade-in if you have one, and finances the rest. A bigger share down means a smaller loan and less interest.

Down payment = price × percent
Amount financed = price − down payment − trade-in
Payment = amount × r ÷ (1 − (1 + r)^−months), with r = APR ÷ 12
Example: $32,000 with 10% down finances $28,800.

This page is the quick version. The main auto loan calculator adds sales tax and fees, compares terms, and works backward from a monthly budget. The motorcycle loan calculator covers bikes.

Payment per $1,000 financed

TermPayment per $1,000Interest per $1,000
36 months$31.11$119.82
48 months$24.18$160.59
60 months$20.04$202.28
72 months$17.29$244.89
At an example 7.5% APR. Multiply by your amount financed ÷ 1,000.

A $28,800 loan over 60 months is 28.8 × $20.04 = $577.15, which matches the calculator to within rounding.

Worked examples

PriceDownTermPayment
$32,00010%60 months$577.09
$32,00015%72 months$470.29
$20,00010%60 months, 4% APR$331.50
$32,000 with a $4,000 trade-in10%60 months$496.94
APR is 7.5% unless noted. Rates are examples.

The same car can cost $577.09 or $470.29 a month depending on the down payment and term. The cheaper payment runs 12 months longer, so total interest is higher: check both numbers.

Common mistakes

  • Looking only at the monthly payment. Check total interest too.
  • Leaving tax, title, and fees out of the price. They change the amount you borrow.
  • Treating an example APR as your rate. Get a quote with your own credit.
  • Skipping insurance and fuel in the monthly budget.

Back to the calculator

Main simulatorAuto loan calculatorCar payment with down payment and trade-in, plus interest by term

Frequently asked questions

How much is a car payment on a $32,000 car?

With 10% down, a 60-month loan at an example 7.5% APR costs $577.09 a month. With 15% down and 72 months, the payment is $470.29.

How much should I put down on a car?

Many buyers aim for around 10% to 20% of the price, but the right amount depends on your savings. A larger down payment lowers the payment and the interest, so enter a few percentages and compare.

How do I calculate a car payment with a trade-in?

Subtract the trade-in value and the down payment from the price, then run the loan formula on what is left. A $4,000 trade-in on a $32,000 car with 10% down brings the payment to $496.94.

Is a 72-month car loan a bad idea?

It lowers the monthly payment but raises total interest, and you stay in debt longer. Compare the 72-month interest figure against a shorter term before you decide.

What APR should I use in a car payment calculator?

Use the APR from a real quote. The 7.5% shown here is only an example, and your rate depends on credit, term, and lender.

Sources and review

  • Standard fixed-rate amortization formula
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