Loan Calculator
Add an extra amount to every payment, or a single one time payment in a chosen month, to see the interest and time you would save.
Enter your loan details to see the monthly payment and total cost.
Estimates assume a fixed rate and equal monthly payments. Your lender may include fees, taxes, or insurance that change the real cost. All math runs in your browser.
Work out the monthly payment on any fixed rate loan, from a car loan to a personal loan. Enter the amount, interest rate, and term to see your payment, the total interest, and the total you will pay. Expand the amortization schedule to see every payment, and add an extra payment to find out how much interest and time you could save. Everything runs in your browser.
How to use
- Enter the loan amount you are borrowing.
- Enter the annual interest rate as a percent.
- Set the loan term in years or months.
- Optionally add an extra payment, recurring monthly or as a one time amount, to see the savings.
- Expand the amortization schedule to see the principal and interest in every payment.
Examples
- A 25,000 auto loan at 6 percent over 5 years: about 483.32 per month, with roughly 4,000 in total interest.
- A 12,000 loan at 0 percent over 12 months: a flat 1,000 per month and no interest.
- Adding 100 a month to a 25,000 auto loan at 6 percent pays it off early and cuts the total interest.
FAQs
- How is the monthly payment calculated?
- It uses the standard amortizing loan formula. The payment is fixed for the whole term, and each month a part covers interest on the remaining balance while the rest reduces the principal. Early payments are mostly interest, and later payments are mostly principal.
- Does this work as an auto or car loan calculator?
- Yes. A car loan is a fixed rate amortizing loan, so the math is identical. Enter the financed amount (price minus down payment and trade in), the APR, and the term in months or years.
- What is an amortization schedule?
- It is the month by month breakdown of the loan: each row shows the payment, how much went to principal, how much went to interest, and the balance left. It is collapsed by default to keep the page light, and the expand button reveals it.
- How do extra payments save money?
- Any amount above the regular payment goes straight to principal, so you owe less and are charged less interest every month after. Paying extra early saves the most, because that principal would otherwise have accrued interest for the longest.
- Are taxes, fees, and insurance included?
- No. The result is the loan repayment only. Lenders may add origination fees, sales tax, registration, or insurance, which raise the real monthly cost. Use this for the loan portion and add those separately.
- Is my data sent anywhere?
- No. The calculation and the schedule are generated locally in your browser. Nothing is uploaded or stored.
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