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EZ Auto Loan Calculator

Independent auto loan estimates for the United States. Not a bank or dealer offer.

Month-by-month principal and interest

Auto Loan Amortization Calculator

A single monthly payment does not show the split between interest and principal. This Auto Loan Amortization Calculator lists each month of a typical U.S. installment: interest, principal, and the remaining balance. Enter the price, APR, term, down payment, and trade-in. An extra monthly amount is optional and is treated as additional principal.

Loan details

Enter the agreed price before cash down. Add financed tax and fees here if you want them in the schedule.

Enter the yearly APR. Do not enter a monthly rate.

The scheduled installment is built for this many months.

Enter the net credit after any amount you still owe, or enter 0.

Enter 0 to stay on the scheduled installment. A positive amount is extra principal each month, not a new billed payment.

Enter the vehicle price, APR, and term. Down payment, trade-in, and extra payment can stay at 0. Then choose Build schedule.

How the schedule is built

The amount financed is the vehicle price minus down payment minus trade-in. The scheduled payment uses the same fixed installment as the Auto Loan Calculator: the standard U.S. amortizing formula, or principal divided by months when the APR is 0 percent.

In each month, interest is the remaining balance times the monthly rate (APR ÷ 12). The rest of that month’s payment reduces principal. An extra amount, if you enter one, is added to principal reduction after that split. It does not invent a new APR.

A schedule you can check

Take $28,000 financed at 6.49 percent APR for 60 months, with no extra payment. The scheduled installment is $547.72. Month 1 interest is $151.43. Month 1 principal is $396.29. The remaining balance is $27,603.71. Over 60 months, estimated interest is $4,863.26.

The same loan with $100 extra principal each month is paid in 50 months. Estimated interest falls to $3,980.12, a saving of $883.14 if you send that extra amount every month. The billed installment on this page stays $547.72; the amount you choose to send is $647.72 until the last row.

What this schedule is not

It is not a lender payoff quote. Simple-interest contracts often compute a daily payoff. Prepayment penalties, if a contract has them, are not modeled. Sales tax, title, fees, GAP, and insurance stay out unless you put those dollars in the price. A longer walkthrough of the installment itself is in how to calculate an auto loan payment.

Amortization questions

What is an auto loan amortization schedule?

It is the month-by-month split of each installment into interest and principal, plus the remaining balance.

Does an extra payment change the installment a lender bills?

Not in this estimate. The scheduled payment stays put. Extra dollars reduce principal sooner. A lender can post extras on a different day or require a written extra-principal instruction.

Is the last payment the same as the others?

Usually not exactly. The last row clears the remaining balance, so it can be smaller than the scheduled installment.

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