Car Loan Amortization Calculator: free payment, schedule & extra payments

Car loan amortization calculator users want two things: the monthly payment and a clear amortization schedule showing interest vs principal over time. Use the calculator below to get your exact payment, see a printable amortization schedule, and model extra payments or biweekly options to pay off your auto loan faster.

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Get your monthly payment and a full amortization schedule. Model extra principal, biweekly payments, and see interest saved. The full-screen view keeps inputs and schedule side-by-side for faster what-ifs.

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1. What this car loan amortization calculator does

Our car loan amortization calculator gives you:

  1. Monthly Payment: the fixed amount you’ll pay each month.
  2. Amortization Schedule: a row-by-row breakdown of each payment:
    • payment number and date
    • interest portion vs principal portion
    • remaining balance after the payment
  3. Cumulative interest: how much interest you’ll pay in total.
  4. Scenario modeling: try extra monthly principal, one-time lumps, or biweekly payments to see payoff acceleration and interest saved.
  5. Print & export: generate a printable amortization schedule using Car Loan Amortization Calculator (PDF/CSV) if you want a paper copy or to send it.

Because this is a loan amortization calculator car drivers can use for real decisions, it’s built for everyday inputs: loan amount, APR, term (months/years), start date, optional sales tax rolled into the loan (if applicable), and fees if your lender includes them in the principal.

2. Quick start (60 seconds)

  1. Loan amount: the amount financed (vehicle price minus down payment plus any financed fees/taxes).
  2. APR (interest rate): your annual percentage rate from the lender.
  3. Term: choose 36, 48, 60, 72 months, etc.
  4. Start date: for a dated schedule.
  5. Extras (optional): enter a monthly extra amount, a one-time lump-sum month, or toggle biweekly.
  6. Calculate: you’ll get the monthly payment, total interest, and a loan amortization calculator schedule you can print.

Tip: If you only need the payment, the tool works as a straightforward loan payment calculator. If you want the details, expand the amortization schedule section.

3. How amortization works (calculation method)

Amortization means paying off a loan with a fixed monthly payment that gradually shifts from mostly interest at the start to mostly principal later. The math behind the loan interest calculator and amortization schedule is standard:

  • Monthly periodic rate i=APR12i = \dfrac{APR}{12}i=12APR​
  • Number of payments nnn (e.g., 60 for a 5-year car loan)
  • Loan amount LLL

Payment formula (PMT): Payment=L×i(1+i)n(1+i)n−1\text{Payment} = L \times \frac{i(1+i)^n}{(1+i)^n – 1}Payment=L×(1+i)n−1i(1+i)n​

Interest for a given month kkk: Interestk=Balancek−1×i\text{Interest}_k = \text{Balance}_{k-1} \times iInterestk​=Balancek−1​×i

Principal for a given month kkk: Principalk=Payment−Interestk\text{Principal}_k = \text{Payment} – \text{Interest}_kPrincipalk​=Payment−Interestk​

New balance: Balancek=Balancek−1−Principalk−Extrak\text{Balance}_k = \text{Balance}_{k-1} – \text{Principal}_k – \text{Extra}_kBalancek​=Balancek−1​−Principalk​−Extrak​

When you add extra principal, every dollar immediately reduces the balance that future interest is calculated on. That’s why “loan amortization calculator with extra payments” scenarios show faster payoff and less total interest.

4. Amortization schedule with fixed monthly payment

A proper amortization schedule with fixed monthly payment shows each period’s outputs in columns:

  • # (payment number)
  • Date
  • Payment (fixed)
  • Interest (changes monthly)
  • Principal (changes monthly)
  • Extra principal (if any)
  • Ending balance

Your first row has the highest interest because the balance is unclipped. As the balance falls, monthly interest shrinks, so more of the fixed payment goes to principal. The schedule ends at zero balance — earlier if you add extras or switch to biweekly.

Use the print button on Car Loan Amortization Calculator to generate a free amortization schedule you can share. If you need a printable amortization schedule, choose compact view (fewer decimals) for better page fit.

5. Car loan examples you can copy

These are rounded, illustrative results from a car loan amortization calculator using standard PMT math. Your exact figures may differ slightly due to rounding and lender practices.

Example 1: Baseline car loan (no extra payments)

  • Loan amount: $25,000
  • APR: 6.5%
  • Term: 60 months
  • Monthly payment: $489.15
  • Total interest (over life): $4,349.22
  • Total of payments: $29,349.22

This is a typical 5-year auto loan. Early payments are interest-heavy; by year 3, most of each payment goes to principal.

Example 2: +$50 extra principal each month

  • Same loan: $25,000 at 6.5% for 60 months
  • Extra monthly principal: $50
  • New payoff time: 54 months (≈ 6 months faster)
  • Total interest: $3,867.77
  • Interest saved: ≈ $481.45

A small, consistent extra can shave months off your term and meaningfully reduce interest.

Example 3: $1,000 one-time lump in month 12

  • Same loan: $25,000 at 6.5% for 60 months
  • One-time extra: $1,000 in month 12
  • New payoff time: ≈ 58 months
  • Total interest: $4,059.24
  • Interest saved: ≈ $290

Lumps are great when you get a bonus or tax refund. Timing them earlier tends to save more interest.

Example 4: Biweekly payments (approximation)

Biweekly means 26 half-payments per year, roughly 13 full payments instead of 12. A simple approximation is adding 1/12 of your monthly payment as extra principal each month.

  • Same loan: $25,000 at 6.5%
  • Effective extra: ≈ $40.76/mo (=$489.15 ÷ 12)
  • New payoff time: ≈ 55 months
  • Total interest: ≈ $3,948.38
  • Interest saved: ≈ $400.85

Exact biweekly schedules (true every-two-weeks debits) can save slightly more than this monthly approximation because the principal falls earlier within each month.

6. Extra payments & biweekly payoff

A loan amortization calculator auto buyers can trust should make extra-payment modeling simple:

  • Monthly extras: Add a fixed amount to principal each month. This shortens the term and reduces total interest.
  • One-time lumps: Perfect for bonuses or refunds (pick the month).
  • Biweekly payments: Either use true biweekly (26 half-payments) if your lender supports it, or simulate by adding 1/12th of the monthly payment as an extra each month.
  • Target payoff date: Some people set a goal (e.g., pay off in 48 months) and solve for the monthly extra needed.

Always confirm prepayment penalties (rare in auto loans but not impossible). If your lender has them, our Car Loan Amortization Calculator can still show what you’d save before penalties so you can compare.

7. Loan payment calculator vs amortization calculator

A loan payment calculator gives you just the number to budget with. A loan amortization calculator shows how each payment splits between interest and principal, and how extras change the path. For planning and transparency, you want both:

  • Payment for the monthly budget
  • Schedule to see cumulative interest, payoff date, and the impact of “what-ifs”

If you’re comparing multiple terms (48 vs 60 vs 72 months), the amortization schedule reveals how much extra interest the longer term costs in exchange for a lower monthly payment.

8. APR, fees, and car-loan specifics

  • APR vs rate: APR includes certain fees; a quoted “interest rate” might not. When you enter APR you capture a truer cost of borrowing.
  • Term length: Longer terms (72–84 months) lower the monthly payment but usually increase total interest.
  • Sales tax & fees: If these are financed (rolled into the loan), they increase the principal — and therefore interest. If you pay them upfront with cash, they’re not financed and won’t accrue interest.
  • Precomputed interest & simple interest: Most modern auto loans are simple-interest, calculated daily on the outstanding balance. Precomputed loans are less flexible when you prepay; simple-interest loans pass savings to you immediately when you make extra principal payments.
  • Late payments: Interest accrues on the unpaid balance; late fees are separate and can’t be “amortized” away by the calculator.
  • Refinancing: If you can refinance to a lower APR, rerun the car loan amortization calculator with the new terms to see payment reduction and interest saved.

9. Excel loan amortization calculator (DIY)

Prefer spreadsheets? You can build an excel loan amortization calculator (also works for mortgage or student loans) with these functions:

  • Payment: =PMT(rate/12, nper, -loan_amount)
  • Interest portion for month k: =IPMT(rate/12, k, nper, -loan_amount)
  • Principal portion for month k: =PPMT(rate/12, k, nper, -loan_amount)
  • Cumulative interest between months a and b: =CUMIPMT(rate/12, nper, loan_amount, a, b, 0)
  • Cumulative principal between months a and b: =CUMPRINC(rate/12, nper, loan_amount, a, b, 0)

Structure your sheet with columns: Period, Payment, Interest, Principal, Extra, Balance. Add a print area to create a neat printable amortization schedule. If you need a mortgage loan amortization calculator or student loan amortization calculator, the same layout works — just change the inputs.

  • Savings (compound growth with contributions) → /savings/
  • Excel guides (CUMIPMT/CUMPRINC walkthroughs) → /excel/
  • Home calculator (full-screen view with tabs) → /?mode=loans#calculator

Citations

We referenced a few authoritative sources for definitions and methodology:

  • Government & public tools for cross-checking results (Investor.gov’s compound interest & savings goal calculators). Investor+1
  • Bankrate and similar finance sites for practical guidance on compounding frequency and maximizing interest. Bankrate
  • NerdWallet for the standard compound interest formula used in consumer finance explanations. NerdWallet
  • Bank pages indicating savings calculators and compounding practices (e.g., CIT Bank, credit unions). CITOklahoma’s Credit Union
car loan amortization calculator

1) What is a car loan amortization calculator?

It’s a tool that computes your fixed monthly payment and builds an amortization schedule showing how much of each payment goes to interest and principal until the loan is paid off.

2) How do I calculate an amortization schedule?

Use the PMT formula to get the monthly payment, then for each month compute interest = balance × (APR/12), principal = payment − interest, subtract from balance, and repeat. Our calculator automates this.

3) What’s the difference between a loan payment calculator and an amortization calculator?

A payment calculator gives only the monthly payment. An amortization calculator gives the full schedule and totals (interest vs principal), plus features like extra payments and biweekly modeling.

4) Can I make extra payments on an auto loan?

Usually yes. Extra principal reduces your balance immediately, shortening the term and saving interest. Check for any prepayment penalties in your contract.

5) How do biweekly payments work?

You make 26 half-payments per year (roughly 13 full payments). This accelerates payoff and reduces interest because you pay principal a bit earlier and more often.

6) What’s included in APR?

APR may include certain lender fees in addition to the interest rate. Using APR gives a more complete picture of borrowing cost than rate alone.

7) What term should I choose: 48, 60, or 72 months?

Shorter terms mean higher monthly payments but less total interest. Longer terms lower the payment but increase interest. Use the calculator to compare totals.

8) Does rolling taxes and fees into the loan change the schedule?

Yes. Financing taxes/fees increases the loan amount and total interest. Paying them upfront keeps them out of the amortization.

9) Is this a printable amortization schedule?

Yes. After calculating, use the print or export option for a free amortization schedule you can save as PDF or CSV.

10) Does the calculator handle mortgages and student loans?

Yes. While this page targets car loans, the same math works for mortgage loan amortization calculator and student loan amortization calculator scenarios. Just adjust the inputs.

11) What about a house loan amortization calculator or extra payments on a mortgage?

Identical process. You can add one-time lumps or monthly extras and see the payoff date and interest saved. Use longer terms (e.g., 360 months) for mortgages.

12) Is this a simple monthly amortization calculator?

Yes. It uses the standard fixed monthly payment model and shows month-by-month results with optional extras and biweekly.

13) Can I get a printable amortization schedule with extra payments?

Yes. Enter your extras, then print or export; the schedule shows each extra alongside the regular payment.

14) Are results exact for every lender?

They’re accurate for standard amortizing loans. Minor differences can occur due to rounding, daily interest conventions, payment timing, or lender-specific rules.