Auto Loan & Lease Calculator
Estimate your monthly auto loan payment or lease payment, with APR, sales tax and a full breakdown.
What this estimate includes
The purchase tab models an amortized auto loan from price, down payment, sales tax, APR and term. The lease tab instead combines depreciation with the rent charge set by the money factor, then adds sales tax and shows the residual value.
Check before deciding
Dealer fees, add-ons and trade-in details are outside the base loan. A lease may also include acquisition, disposition, mileage and wear charges. Verify the amount financed, APR or money factor, residual, allowances and every fee on the contract.
Frequently asked questions
How is my monthly car instalment worked out?
It is based on the amount financed, the interest rate and the loan term. The calculator shows the instalment plus the total interest and true cost of the vehicle in $.
What is a flat rate versus a reducing rate?
A flat rate charges interest on the original amount for the whole term, so the effective rate is higher. A reducing rate charges interest only on the outstanding balance.
How does a bigger down payment change my instalment?
Putting more money down lowers the amount you finance, so both the monthly instalment and the total interest over the term go down. It can also help you qualify for a better rate.
Should I choose a longer or shorter loan term?
A longer term lowers the monthly instalment but you pay more interest overall and risk owing more than the car is worth. A shorter term costs more each month but less in total.