Used Car Calculator: How Much Will My Monthly Car Payments Be?

Updated June 08, 2021

In the market for a used car? Our used car calculator shows you the expected monthly payments, a breakdown between your principal and interest, and a full payment schedule. 

Loan Amount:
Term (years):
Annual Interest Rate (%):
= Monthly Payment

My Monthly Car Payment Will Be...

If you borrow   to buy a used car at   interest for   years, your monthly payment would be  .

Note: Your monthly car payments will not change over the term of your loan. Howver, the amount of your payment that pays off the principal will change every month. As you continue to pay down the principal balance on your loan, you will pay less interest with each passing month.

See your used car loan payment amortization schedule


How Much Will My Monthly Used Car Loan Payment Be? 

Before buying a used car, it’s a great idea to determine how much your monthly loan payments will be. Our used car loan calculator also breaks down your monthly principal and interest owed, while showing a full payment schedule. 

How to Use Our Used Car Calculator

Your monthly payments will depend on the amount of money borrowed, the annual interest rate, and your loan term (the time period during which you’ll repay the loan). 
For example, if you plan to borrow $15,000 at 4.5% interest – and repay it over 6 years – you would enter:

  • "$15,000" for your Loan Amount
  • "6" as the Term 
  • "4.5%" as the Annual Interest Rate.