financing

Car Payment Calculator: How to Calculate Monthly Auto Loan Payments

Car Payment Calculator: How to Calculate Monthly Auto Loan Payments Your monthly car payment depends on the loan amount, interest rate, and term length. A $30,000 car with $5,000 down, 6% APR, and a 60-month term has a payment of about $483/month. Changing any variable significantly affects your payment. Financing a $28,500 Mazda CX-5 with $6,000 down shows how much rate shopping matters: accepting the dealer's 7.2% APR offer puts the payment at $446/month, while getting pre-approved at a credit union for 5.4% and renegotiating drops it to $428/month, saving $1,080 over the 60-month term. A few hours of rate shopping can be some of the easiest money a buyer ever saves. Use our Car Payment Calculator(/auto/auto-loan-calculator) to see exactly what you'll pay for any vehicle. !Car payment formula breakdown showing $30K loan at 6.5% APR for 60 months with principal vs interest split over 5 years(/images/blog/car-payment-breakdown.svg) How to Calculate...