Loan Calculator

Calculate your monthly loan payments, total interest paid, and view a complete amortization schedule. Works for car loans, personal loans, student loans, and mortgages.

Enter Your Loan Details

Total amount you want to borrow
Yearly interest rate as a percentage
Number of monthly payments
When will the loan begin?

Your Results

Monthly Payment $0.00
Total Payment $0.00
Total Interest $0.00
Principal $0.00
Interest-to-Principal Ratio 0%

Loan Summary: Borrowing $0 at 0% APR for 0 months will cost you $0, of which $0 is interest.

How to Use This Loan Calculator

Our loan calculator helps you understand the true cost of borrowing. Here's what each input means and how to use the results:

1. Enter the Loan Amount

This is the total amount you plan to borrow. For a car, this might be the purchase price minus your down payment. For a personal loan, it's the amount you're requesting.

2. Set the Interest Rate

Enter the annual percentage rate (APR) offered by your lender. If you're comparison shopping, check rates from at least 3-5 lenders. Even a 0.5% difference can save you hundreds or thousands over the life of the loan.

3. Choose Your Loan Term

Longer terms mean lower monthly payments but more total interest paid. Shorter terms save money long-term but require higher monthly payments. Use the quick-select buttons or enter a custom number.

💡 Pro Tip

Try different loan terms to find the right balance. For example, a 48-month car loan might have payments you can't afford, but a 60-month loan with only slightly more total interest might fit your budget perfectly.

Understanding Your Results

  • Monthly Payment: The fixed amount you'll pay each month (principal + interest).
  • Total Payment: All payments combined over the entire loan term.
  • Total Interest: The cost of borrowing — what you pay above the original amount.
  • Interest-to-Principal Ratio: Shows what percentage of your payments goes to interest vs. paying down the loan.

Common Loan Types

  • Auto Loans: Typically 36-84 months, secured by the vehicle.
  • Personal Loans: Usually 12-60 months, unsecured or secured.
  • Student Loans: Can extend 10-25 years, often with flexible repayment options.
  • Debt Consolidation: Combines multiple debts into one loan with a single payment.

Disclaimer: This calculator provides estimates for informational purposes only. Actual loan terms, rates, and payments may vary based on credit score, lender requirements, and other factors. Always consult with a financial professional before making major financial decisions.