Car Loan Repayment Calculator 2026
Buying a car? Know your monthly payment before you walk into the dealer.
Calculate monthly repayments on a car loan in the United States. Enter your loan amount, interest rate, and term in years. Shows monthly repayment, total interest paid, and total cost of the loan.
Comparison rate includes fees. Check your lender's full schedule.
Amortisation formula for fixed-rate loans
The amortisation formula
Monthly repayment = Loan × [r(1+r)^n] ÷ [(1+r)^n − 1], where r = monthly interest rate (annual ÷ 12) and n = total months. On a $25,000 car loan at 7% for 5 years: n = 60, r = 0.00583. Monthly repayment ≈ $495. In early months, most of each payment is interest; later, more goes to principal.
Monthly repayments at common loan sizes and rates
| Loan amount | 5yr @ 7% | 5yr @ 10% | 5yr @ 15% |
|---|---|---|---|
| $10,000 | $198 | $212 | $238 |
| $15,000 | $297 | $319 | $357 |
| $20,000 | $396 | $425 | $475 |
| $25,000 | $495 | $531 | $594 |
Frequently askedFrequently asked questions
What is the difference between interest rate and APR for car loans?
The interest rate is the base cost of borrowing. The APR includes the interest rate plus most fees (establishment fee, monthly fees) expressed as a single annual rate, enabling like-for-like comparisons. Under US law (the Truth in Lending Act and Consumer Financial Protection Bureau rules), lenders must display the APR alongside the advertised rate.
Secured vs unsecured car loan in the United States?
A secured car loan uses the vehicle as collateral, allowing lower interest rates (typically 5–9% per year for good credit). The lender can repossess the car if you default. An unsecured car loan (personal loan for car purchase) carries higher rates (8–15%+) but the lender has no claim on the vehicle. For new or near-new vehicles, secured loans almost always offer better rates.
Where these figures come from
Every bracket, threshold, and deduction on this page is taken directly from the 2026 source of record — the Internal Revenue Service (IRS) and Social Security Administration (SSA) — plus the Tax Foundation for comparative state data.
- 2025 brackets & standard deduction — IRS — Tax Inflation Adjustments for Tax Year 2025 (Rev. Proc. 2024-40).
- Federal income tax rates — IRS — Federal Income Tax Rates and Brackets.
- Social Security wage base (
SSA — Contribution and Benefit Base. - FICA rates (6.2% + 1.45%) — IRS Topic 751 — SS & Medicare Withholding.
- Additional Medicare Tax (0.9%) — IRS Topic 560 — Additional Medicare Tax.
- Self-employment tax (15.3%) — IRS — Self-Employment Tax.
- SALT cap & medical deduction floor — IRS Topics 503 & 502 — Deductible Taxes, Medical.
- Capital gains tax rates — IRS Topic 409 — Capital Gains and Losses.
- State income tax comparisons — Tax Foundation — State Individual Income Tax Rates.
Last checked: April 2026. Rates and thresholds are reviewed against the source of record each November, when annual adjustments for the following tax year are published.
Select the question that matches where you are right now.
Your result reflects the financial position of the property scenario you entered — based on current rates, market rules, and standard calculation methods used across the Australian property industry.
Use this as a planning figure. Compare different property prices, deposit sizes, or loan terms to see how each changes the outcome. Adjust inputs in Standard or Advanced mode for more detail.
Not a bank approval, valuation, or guarantee. Lenders apply their own policies, credit checks, and property assessments beyond what any calculator can model.
Calculations use current published rates and standard formulas. All processing runs in your browser — no data is sent to any server.
Property calculations are most sensitive to the interest rate, loan amount, and time horizon. Small changes to these inputs produce the largest shifts in your result.
A 0.5% rate change on a $500k loan shifts annual interest by ~$2,500. Use Standard mode to compare fixed vs variable rate scenarios.
Extending the loan term reduces repayments but increases total interest. Interest-only periods change cash flow but not total cost. Model both in Advanced mode.
The ratio of your loan to the property value affects LMI, rate pricing, and lender appetite. Crossing the 80% LVR threshold changes the cost structure significantly.
To improve your property outcome, focus on the inputs with the highest leverage — these typically produce more impact per dollar than broad changes.
A larger deposit reduces LVR, eliminates LMI at 80%, and may unlock better rate pricing. Even $10k–$20k extra deposit can shift the cost picture.
Credit card limits and personal loans reduce borrowing capacity dollar-for-dollar. Closing unused cards before applying is one of the fastest levers.
Rate, policy, and LVR treatment vary between lenders. A mortgage broker can identify the best fit for your specific profile and property type.
Property decisions involve multiple linked calculations. Use the related calculators to model the full picture before committing.
Confirm how much a lender would approve based on your income, debts, and expenses.
Borrowing capacity →Factor in transfer duty and other upfront costs so your total cash requirement is accurate.
Stamp duty calculator →See the monthly, fortnightly, and weekly repayment at different rates and terms.
Mortgage repayment →