How is a car loan payment calculated?

The standard amortisation formula is M = P[r(1+r)^n] / [(1+r)^n − 1], where P is the amount financed (vehicle price + sales tax − down payment − trade-in), r is the monthly interest rate (APR ÷ 12), and n is the number of monthly payments. The same fixed payment is made every month; early payments are mostly interest, later payments mostly principal.

What APR can I expect on a car loan in 2026?

In May 2026, average APRs in the US run about 7.0% for new cars with prime credit and 11–13% for used. UK and EU APRs average 6–9% via PCP/HP. Subprime borrowers can pay 15%+. Always shop at least three lenders — your credit score moves the rate by 3–6 percentage points.

Should I make a larger down payment?

Yes, almost always. A 20% down payment on a new car (10% on used) keeps you out of negative equity, lowers your monthly payment, and often unlocks a lower APR. It also reduces total interest paid because you finance less principal.

Is a 72-month or 84-month car loan a bad idea?

Long terms lower the monthly payment but you stay underwater longer (the car depreciates faster than you pay it off) and total interest balloons. A $30,000 loan at 8% costs about $5,200 in interest over 60 months versus $9,000 over 84 months. Stick to 60 months or less when possible.

Does this calculator include sales tax and fees?

Yes. Enter your local sales tax rate and the calculator adds it to the financed amount (most US states tax the vehicle price minus trade-in; some tax the full price). Documentation, registration and dealer fees are not modelled — add them manually to the vehicle price if you want the full out-the-door figure.

🚗 Autolåns-lommeregner

Estimat your monthly car payment, total interest, sales tax and full amortisation schedule. Works for new or used cars in USD, GBP or EUR.

Vehicle Price

Valuta

Udbetaling

Trade-In Value

Salgsmoms (%)

Årlig Rentesats / APR (%)

Lånetermin

⚠️ Illustrative only. Faktisk APR afhænger af kreditvurdering, långiver og køretøjets alder. Salgsmoms-behandling varierer efter stat/land (nogle beskatter den fulde pris, andre beskatter pris minus indbytte). Ikke finansiel rådgivning.

Sådan fungerer autolån-lommeregneren

The amount you actually finance is the vehicle price plus sales tax, minus your down payment and trade-in. We then apply the standard reducing-balance amortisation formula to compute a fixed monthly payment over your chosen term. Each month, interest is charged on the remaining balance and the rest of your payment chips away at the principal — so early payments are interest-heavy and later ones are principal-heavy.

What's a Good Auto Loan APR?

Fra maj 2026 er US-gennemsnit fra Experian Q1-data ca. 7.0% for new cars og 11–13% for used med førsteklasses kredit. UK PCP/HP-renter ligger på 6–9% og EU-gennemsnit på 5–7%. Din kreditvurdering er den enkelt største løftestang — at flytte sig fra "fair" til "meget god" kredit kan reducere din rente med 3–6 procentpoint, hvilket på et $30.000 60-månedslån sparer ca. $3.000 i rente.

Udbetaling & Trade-In

Sigt efter mindst 20% down on a new car eller 10% down on a used car. Dette beskytter dig mod negativ egenkapital (at skylde mere end bilen er værd), hvilket er en reel risiko, fordi biler afskrives hurtigst i de første tre år. Din indbytte tæller det samme som kontant udbetaling — men få en skriftlig vurdering fra CarMax / WeBuyAnyCar inden du går til forhandleren, så du har et benchmarke.

Lånetermins-afvejning

Longer terms cut the monthly payment but cost more total. A $30,000 loan at 8% APR costs about $5,200 in interest over 60 months ($608/mo) versus $9,000 over 84 months ($449/mo). The 84-month option also keeps you underwater longer because depreciation outpaces your principal payments — bad if you need to sell or total the car early.

Tips til at sænke dine billånsomkostninger

Get pre-approved by a credit union or bank before visiting the dealer — use it to negotiate
Shop the price and the financing separately; dealers profit from both
Forbedre din kreditvurdering 60–90 dage før ansøgning — betal kreditkort ned til under 30% udnyttelse
Vælg den korteste løbetid du komfortabelt har råd til
Make biweekly payments instead of monthly — that's one extra payment per year
Undgå tilvalg (udvidet garanti, gap-forsikring, lakbeskyttelse) finansieret ind i lånet

⚠️

Vigtig bemærkning: This tool provides estimates. Actual rates and terms depend on your credit profile, lender criteria, vehicle, and local taxes. Always get firm quotes in writing from at least three lenders before signing a finance agreement.

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