Auto loan calculator
Calculating your monthly car loan payment makes it easier to weigh competing loan offers. Use our calculator to estimate your monthly payment based on the purchase price of your vehicle, the value of your trade-in, your down payment, and other cost factors.
Explore Progressive Answers' auto editorial guidelines to find out why you can trust the car insurance information you find here.
Monthly car payment calculator
Use our monthly car payment calculator to estimate your payments, as well as the interest you'll pay over the length of your loan.
This calculator is for illustrative and educational purposes only. Its accuracy and applicability to your circumstances is not guaranteed. You may wish to consult your own adviser regarding your particular circumstances.
How much will my monthly car payment be?
Your monthly car payment is ultimately calculated based on your:
- Loan amount: You can lower the amount you need to borrow through cash rebates, trade-ins, and a higher down payment. Learn how much you should put down on a car.
- Interest rate: Rates fluctuate all the time; shopping around for an auto loan could save you more in interest. You could also refinance your car loan later to a more favorable rate.
- Loan term: A longer loan term usually means lower monthly payments, but interest rates are typically higher for long-term loans, which could cancel out any potential monthly savings.
Using our monthly car payment calculator before you get preapproved for an auto loan can make it easier to budget for your new car. You should also keep in mind the insurance requirements for a financed car. Lenders typically require you to carry comprehensive and collision coverages on a financed vehicle, which may increase your insurance rate if you don't carry these coverages on your current car.
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