Auto Loan Calculator

When you click the button, you can set your desired payment as the starting point instead of the vehicle price. The calculator then adjusts the maximum vehicle price based on your payment, loan term, and interest rate.

A key point here is monthly payment versus total cost. For example, a $1,000 payment at 7% could finance:

• $22,346 over 24 months ($1,653 interest)
• $41,801 over 48 months ($6,199 interest)
• $66,363 over 84 months ($17,635 interest)

While a longer term means you can "afford" more, the interest cost increases significantly.

Longer loan terms also make it more likely that you're loan balance is greater than the value of the vehicle. So if you want to sell after a year or two, you might need to pay additional money out of pocket (even after selling the car) to pay off the loan. You can potentially avoid this situation with larger down payments and shorter loan terms.