Auto Loan Calculators
Auto Loan Amortization Calculator
Produce a full month-by-month schedule for a car loan showing interest, principal and the balance outstanding.
Monthly payment
$519.75
- Total interest
- $5,185
- Total paid
- $31,185
- Interest as share of loan
- 19.9%
Auto loan schedule — yearly
| Year | Interest paid | Principal paid | Balance remaining |
|---|---|---|---|
| 1 | $1,775 | $4,462 | $21,538 |
| 2 | $1,433 | $4,804 | $16,734 |
| 3 | $1,065 | $5,172 | $11,562 |
| 4 | $669 | $5,568 | $5,994 |
| 5 | $243 | $5,994 | $0 |
How this calculator works
M = P × r ÷ (1 − (1 + r)^−n)
- P
- the amount financed
- r
- the monthly interest rate
- n
- the number of monthly payments
Example calculation
Illustrative example — not advice
Worked example — the auto loan amortization calculator as it loads, using the default figures below.
- 01Enter loan amount: $26,000.
- 02Enter interest rate: 7.4%.
- 03Enter loan term: 5 years.
- 04Read the monthly payment from the results panel: $519.75.
Monthly payment: $519.75. Total interest: $5,185. Total paid: $31,185. Interest as share of loan: 19.9%.
These figures come straight from the calculator above running on the values listed, so you can retype them and confirm every number yourself. Change any input and the results update immediately. Illustrative only — not a quote, offer or recommendation.
Important considerations
- Dealer add-ons rolled into the loan increase both the payment and the interest.
- Early payments are interest-heavy, which is why early payoff saves less than people expect.
Related calculators
- Auto Loan CalculatorMonthly vehicle payment after deposit, trade-in, tax and fees.
- Auto Loan Payoff CalculatorEarly payoff date and interest saved.
- Auto Refinance CalculatorSavings from refinancing a car loan.
- Car Affordability CalculatorThe car price a monthly budget supports.
- Lease vs Buy CalculatorTotal cost of leasing against buying.
- Car Depreciation CalculatorVehicle value year by year.
Terms used here
Frequently asked questions
Why does the split change each month?
Interest is charged on the balance outstanding, which falls with every payment.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01