Calculate monthly payments, total interest and payoff dates for auto loans, personal loans and student loans. Includes a full amortization schedule and extra payment analysis.
| # | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $486.35 | $210.00 | $34,513.65 |
| 2 | $489.27 | $207.08 | $34,024.38 |
| 3 | $492.20 | $204.15 | $33,532.18 |
| 4 | $495.16 | $201.19 | $33,037.02 |
| 5 | $498.13 | $198.22 | $32,538.90 |
| 6 | $501.12 | $195.23 | $32,037.78 |
| 7 | $504.12 | $192.23 | $31,533.66 |
| 8 | $507.15 | $189.20 | $31,026.51 |
| 9 | $510.19 | $186.16 | $30,516.32 |
| 10 | $513.25 | $183.10 | $30,003.07 |
| 11 | $516.33 | $180.02 | $29,486.74 |
| 12 | $519.43 | $176.92 | $28,967.31 |
| 13 | $522.55 | $173.80 | $28,444.76 |
| 14 | $525.68 | $170.67 | $27,919.08 |
| 15 | $528.83 | $167.51 | $27,390.25 |
| 16 | $532.01 | $164.34 | $26,858.24 |
| 17 | $535.20 | $161.15 | $26,323.04 |
| 18 | $538.41 | $157.94 | $25,784.63 |
| 19 | $541.64 | $154.71 | $25,242.99 |
| 20 | $544.89 | $151.46 | $24,698.10 |
| 21 | $548.16 | $148.19 | $24,149.94 |
| 22 | $551.45 | $144.90 | $23,598.49 |
| 23 | $554.76 | $141.59 | $23,043.73 |
| 24 | $558.09 | $138.26 | $22,485.64 |
| 25 | $561.44 | $134.91 | $21,924.21 |
| 26 | $564.80 | $131.55 | $21,359.40 |
| 27 | $568.19 | $128.16 | $20,791.21 |
| 28 | $571.60 | $124.75 | $20,219.61 |
| 29 | $575.03 | $121.32 | $19,644.57 |
| 30 | $578.48 | $117.87 | $19,066.09 |
| 31 | $581.95 | $114.40 | $18,484.14 |
| 32 | $585.44 | $110.90 | $17,898.70 |
| 33 | $588.96 | $107.39 | $17,309.74 |
| 34 | $592.49 | $103.86 | $16,717.25 |
| 35 | $596.05 | $100.30 | $16,121.20 |
| 36 | $599.62 | $96.73 | $15,521.58 |
| 37 | $603.22 | $93.13 | $14,918.36 |
| 38 | $606.84 | $89.51 | $14,311.52 |
| 39 | $610.48 | $85.87 | $13,701.04 |
| 40 | $614.14 | $82.21 | $13,086.90 |
| 41 | $617.83 | $78.52 | $12,469.07 |
| 42 | $621.53 | $74.81 | $11,847.53 |
| 43 | $625.26 | $71.09 | $11,222.27 |
| 44 | $629.02 | $67.33 | $10,593.25 |
| 45 | $632.79 | $63.56 | $9,960.46 |
| 46 | $636.59 | $59.76 | $9,323.88 |
| 47 | $640.41 | $55.94 | $8,683.47 |
| 48 | $644.25 | $52.10 | $8,039.22 |
| 49 | $648.11 | $48.24 | $7,391.11 |
| 50 | $652.00 | $44.35 | $6,739.11 |
| 51 | $655.91 | $40.43 | $6,083.19 |
| 52 | $659.85 | $36.50 | $5,423.34 |
| 53 | $663.81 | $32.54 | $4,759.53 |
| 54 | $667.79 | $28.56 | $4,091.74 |
| 55 | $671.80 | $24.55 | $3,419.94 |
| 56 | $675.83 | $20.52 | $2,744.11 |
| 57 | $679.88 | $16.46 | $2,064.23 |
| 58 | $683.96 | $12.39 | $1,380.26 |
| 59 | $688.07 | $8.28 | $692.20 |
| 60 | $692.20 | $4.15 | $0.00 |
Auto loans, personal loans, student loans and home improvement loans all use the same amortization math. This calculator gives you the monthly payment, total interest, complete payment schedule, and the effective APR once origination fees are included.
Where
Dealers and lenders quote monthly payments because a longer term always makes the payment look smaller. On the same $35,000 at 7.2%:
Stretching from 3 years to 7 cuts the payment by half and more than doubles the interest. Worse, on an auto loan a long term keeps you underwater - owing more than the car is worth - for most of the loan, which is a real problem if the vehicle is totalled or you need to sell.
Personal loans frequently carry origination fees of 1-8%, deducted from the amount you receive. Borrow $15,000 with a 5% fee and you get $14,250 while paying interest on the full $15,000. Enter the fee above and the calculator solves for the true APR, which is the only fair basis for comparing offers.
Pick a loan type
Use a preset for typical auto, personal, student or home improvement terms, or enter your own numbers directly.
Set amount, rate and term
Use the sliders for quick exploration or type exact figures. Term buttons let you compare common lengths in one click.
Add fees for a true APR
Enter any origination fee and the calculator solves for the effective APR, which is what you should compare across lenders.
Model early payoff
Add an extra monthly amount to see how much interest you avoid and how many months you cut from the term.
Car shoppers
Check the dealer's payment quote against the real math, and see what a longer term actually costs you.
Debt consolidation
Compare a consolidation loan's total cost against continuing to pay your existing balances.
Comparing lender offers
Normalise offers with different rates and fees into a single effective APR you can rank.
Payoff planning
Find the extra monthly amount that clears the balance by a target date.
The interest rate is the cost of borrowing the principal. APR includes the interest rate plus origination fees and other finance charges, expressed as a yearly rate. APR is the number to compare across lenders, because a low rate with a high origination fee can cost more than a higher rate with no fee.
No. A longer term lowers the monthly payment but increases total interest, often substantially. A $35,000 auto loan at 7.2% costs about $6,700 in interest over 60 months but roughly $9,600 over 84 months. You pay less each month and far more overall.
Usually yes if the rate exceeds what you could earn safely elsewhere, and if there is no prepayment penalty. Check your agreement first. Also confirm with the servicer that extra payments are applied to principal rather than held as a prepaid future installment, which achieves nothing.
Generally 720+ gets near-best pricing on auto and personal loans; 660-719 is acceptable with a higher rate; below 620 is subprime with substantially higher costs. The rate difference between excellent and fair credit on a $35,000 auto loan can exceed $5,000 over the term.
Most US auto and personal loans are simple-interest loans, where interest accrues daily on the outstanding balance. That is what this calculator models. Older 'precomputed interest' loans front-load the total interest, which makes early payoff far less beneficial. Check which type you have.