| Month | Loan Amount ($) | Balance ($) | Change ($) |
|---|---|---|---|
| Starting Value | $10000.00 | $10000.00 | $0.00 |
| Month 1 | $10000.00 | $10058.33 | $58.33 |
| Month 2 | $10000.00 | $10116.67 | $58.34 |
| Month 3 | $10000.00 | $10175.00 | $58.33 |
| Month 4 | $10000.00 | $10233.33 | $58.33 |
| Month 5 | $10000.00 | $10291.67 | $58.34 |
| Month 6 | $10000.00 | $10350.00 | $58.33 |
| Month 7 | $10000.00 | $10408.33 | $58.33 |
| Month 8 | $10000.00 | $10466.67 | $58.34 |
| Month 9 | $10000.00 | $10525.00 | $58.33 |
| Month 10 | $10000.00 | $10583.33 | $58.33 |
| Month 11 | $10000.00 | $10641.67 | $58.34 |
| Month 12 | $10000.00 | $10700.00 | $58.33 |
| Month 13 | $10000.00 | $10758.33 | $58.33 |
| Month 14 | $10000.00 | $10816.67 | $58.34 |
| Month 15 | $10000.00 | $10875.00 | $58.33 |
| Month 16 | $10000.00 | $10933.33 | $58.33 |
| Month 17 | $10000.00 | $10991.67 | $58.34 |
| Month 18 | $10000.00 | $11050.00 | $58.33 |
| Month 19 | $10000.00 | $11108.33 | $58.33 |
| Month 20 | $10000.00 | $11166.67 | $58.34 |
| Month 21 | $10000.00 | $11225.00 | $58.33 |
| Month 22 | $10000.00 | $11283.33 | $58.33 |
| Month 23 | $10000.00 | $11341.67 | $58.34 |
| Month 24 | $10000.00 | $11400.00 | $58.33 |
| Month 25 | $10000.00 | $11458.33 | $58.33 |
| Month 26 | $10000.00 | $11516.67 | $58.34 |
| Month 27 | $10000.00 | $11575.00 | $58.33 |
| Month 28 | $10000.00 | $11633.33 | $58.33 |
| Month 29 | $10000.00 | $11691.67 | $58.34 |
| Month 30 | $10000.00 | $11750.00 | $58.33 |
| Month 31 | $10000.00 | $11808.33 | $58.33 |
| Month 32 | $10000.00 | $11866.67 | $58.34 |
| Month 33 | $10000.00 | $11925.00 | $58.33 |
| Month 34 | $10000.00 | $11983.33 | $58.33 |
| Month 35 | $10000.00 | $12041.67 | $58.34 |
| Month 36 | $10000.00 | $12100.00 | $58.33 |
| Month 37 | $10000.00 | $12158.33 | $58.33 |
| Month 38 | $10000.00 | $12216.67 | $58.34 |
| Month 39 | $10000.00 | $12275.00 | $58.33 |
| Month 40 | $10000.00 | $12333.33 | $58.33 |
| Month 41 | $10000.00 | $12391.67 | $58.34 |
| Month 42 | $10000.00 | $12450.00 | $58.33 |
| Month 43 | $10000.00 | $12508.33 | $58.33 |
| Month 44 | $10000.00 | $12566.67 | $58.34 |
| Month 45 | $10000.00 | $12625.00 | $58.33 |
| Month 46 | $10000.00 | $12683.33 | $58.33 |
| Month 47 | $10000.00 | $12741.67 | $58.34 |
| Month 48 | $10000.00 | $12800.00 | $58.33 |
| Month 49 | $10000.00 | $12858.33 | $58.33 |
| Month 50 | $10000.00 | $12916.67 | $58.34 |
| Month 51 | $10000.00 | $12975.00 | $58.33 |
| Month 52 | $10000.00 | $13033.33 | $58.33 |
| Month 53 | $10000.00 | $13091.67 | $58.34 |
| Month 54 | $10000.00 | $13150.00 | $58.33 |
| Month 55 | $10000.00 | $13208.33 | $58.33 |
| Month 56 | $10000.00 | $13266.67 | $58.34 |
| Month 57 | $10000.00 | $13325.00 | $58.33 |
| Month 58 | $10000.00 | $13383.33 | $58.33 |
| Month 59 | $10000.00 | $13441.67 | $58.34 |
| Month 60 | $10000.00 | $13500.00 | $58.33 |
A car loan allows you to finance the purchase of a vehicle by borrowing money from a lender and paying it back over time, typically with interest. Understanding your monthly payments and total interest paid helps you make informed decisions.
Use this calculator to estimate your monthly repayments, total interest, and the overall cost of your car loan. You can also see how making extra payments could reduce your interest and shorten your loan term.
Car loan interest is usually calculated on the outstanding balance of your loan. This calculator uses a simple interest method for estimation.
Yes, making extra payments can reduce the total interest you pay and may help you pay off your car loan sooner.
You'll need your loan amount, interest rate, and loan term. You can also include extra payments to see their impact.