Auto Loan Calculator — Monthly Payment and Total Interest
CalculatorAn auto loan calculator applies the amortization formula to the financed amount (vehicle price minus down payment) to estimate the monthly payment and total interest.
What is it
An auto loan finances the vehicle price minus the down payment and is repaid in equal monthly installments. This tool is a simulation using the standard amortization formula; real offers differ by lender and product. Origination fees, insurance, variable rates, and balloon options are not included, so always compare actual lender quotes.
How to use
- 1Enter the vehicle price and down payment.
- 2Enter the annual rate (%) and loan term in months.
- 3Check the monthly payment, total paid, and total interest.
Reference
| Price | Down payment | Rate | Term | Monthly (approx.) | Total interest (approx.) |
|---|---|---|---|---|---|
| 20000000 | 4000000 | 5% | 36 mo | 479530 | 1263080 |
| 30000000 | 6000000 | 5.9% | 48 mo | 562542 | 3002016 |
Sources & standards
- FINE — financial product comparison portal - Financial Supervisory Service (금융감독원)
- Korea Federation of Banks consumer portal - Korea Federation of Banks (은행연합회)
- Auto loans — understanding monthly payments - CFPB
FAQ
What is the monthly payment on a 24,000,000 auto loan at 5.9% for 48 months?
The equal monthly payment is about 562,542 and the total interest is about 3,000,000.
Will this match a real dealer or bank quote?
No. Lenders differ in rate type, fees, and terms, so this result is a simulation for reference. Compare actual quotes from lenders before signing.
Is auto loan calculator input sent to a server?
No. This tool runs in your browser and does not send input to a server.