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Car Loan Interest Calculator

See exactly how much interest you'll pay in total on your car loan.

Details

Enter your numbers and select Calculate to see results.

About This Calculator

This calculator focuses specifically on the interest cost of a car loan — showing your total interest paid, how it compares to the principal, and the first month's interest-to-principal split, so you understand the true cost of financing versus the sticker price.

How This Is Calculated

Total Interest = Sum of (Balance × Monthly Rate) across all payments

Monthly Rate
— Annual APR ÷ 12

A $28,000 loan at 7.5% for 60 months accrues roughly $4,650 in total interest — about 16.6% of the loan amount.

Assumptions

  • Fixed APR for the full term.
  • Standard monthly amortization, no extra payments.

Frequently Asked Questions

A shorter term means the balance is paid down faster, so less time exists for interest to accrue on the remaining balance — even though the monthly payment is higher, total interest paid is typically much lower.

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Last updated January 15, 2026. Results are estimates for informational purposes only — read our disclaimer.