Amortization Loan Car Calculator
Auto Loan Amortization Calculator works out Payment and Total interest from Loan amount, Annual interest rate and Loan term. The default figures on this page give payment of 586.98; change any entry and the result, the working and the sources update together.
Your figures
Updates as you typeHow this is worked out
5 steps
- Each period, interest = outstanding balance x 0.541667%; the rest of the payment reduces principal.
- Payment 1: 162.5 interest and 424.48 principal.
- From payment 1 onwards more of each payment goes to principal than to interest.
- The balance is half repaid by payment 33.
- Year 1 ends with 24751.71 outstanding, 17.49% of the loan retired.
Amortisation scheduletable
| period | payment | interest | principal | balance |
|---|---|---|---|---|
| 1 | 586.98 | 162.5 | 424.48 | 29,575.52 |
| 2 | 586.98 | 160.2 | 426.78 | 29,148.74 |
| 3 | 586.98 | 157.89 | 429.09 | 28,719.65 |
| 4 | 586.98 | 155.56 | 431.42 | 28,288.23 |
| 5 | 586.98 | 153.23 | 433.75 | 27,854.48 |
| 6 | 586.98 | 150.88 | 436.1 | 27,418.38 |
| 7 | 586.98 | 148.52 | 438.46 | 26,979.92 |
| 8 | 586.98 | 146.14 | 440.84 | 26,539.08 |
| 9 | 586.98 | 143.75 | 443.23 | 26,095.85 |
| 10 | 586.98 | 141.35 | 445.63 | 25,650.22 |
| 11 | 586.98 | 138.94 | 448.04 | 25,202.18 |
| 12 | 586.98 | 136.51 | 450.47 | 24,751.71 |
| 13 | 586.98 | 134.07 | 452.91 | 24,298.8 |
| 14 | 586.98 | 131.62 | 455.36 | 23,843.44 |
| 15 | 586.98 | 129.15 | 457.83 | 23,385.61 |
| 16 | 586.98 | 126.67 | 460.31 | 22,925.3 |
| 17 | 586.98 | 124.18 | 462.8 | 22,462.5 |
| 18 | 586.98 | 121.67 | 465.31 | 21,997.19 |
| 19 | 586.98 | 119.15 | 467.83 | 21,529.36 |
| 20 | 586.98 | 116.62 | 470.36 | 21,059 |
| 21 | 586.98 | 114.07 | 472.91 | 20,586.09 |
| 22 | 586.98 | 111.51 | 475.47 | 20,110.62 |
| 23 | 586.98 | 108.93 | 478.05 | 19,632.57 |
| 24 | 586.98 | 106.34 | 480.64 | 19,151.93 |
| 25 | 586.98 | 103.74 | 483.24 | 18,668.69 |
| 26 | 586.98 | 101.12 | 485.86 | 18,182.83 |
| 27 | 586.98 | 98.49 | 488.49 | 17,694.34 |
| 28 | 586.98 | 95.84 | 491.14 | 17,203.2 |
| 29 | 586.98 | 93.18 | 493.8 | 16,709.4 |
| 30 | 586.98 | 90.51 | 496.47 | 16,212.93 |
| 31 | 586.98 | 87.82 | 499.16 | 15,713.77 |
| 32 | 586.98 | 85.12 | 501.86 | 15,211.91 |
| 33 | 586.98 | 82.4 | 504.58 | 14,707.33 |
| 34 | 586.98 | 79.66 | 507.32 | 14,200.01 |
| 35 | 586.98 | 76.92 | 510.06 | 13,689.95 |
| 36 | 586.98 | 74.15 | 512.83 | 13,177.12 |
| 37 | 586.98 | 71.38 | 515.6 | 12,661.52 |
| 38 | 586.98 | 68.58 | 518.4 | 12,143.12 |
| 39 | 586.98 | 65.78 | 521.2 | 11,621.92 |
| 40 | 586.98 | 62.95 | 524.03 | 11,097.89 |
| 41 | 586.98 | 60.11 | 526.87 | 10,571.02 |
| 42 | 586.98 | 57.26 | 529.72 | 10,041.3 |
| 43 | 586.98 | 54.39 | 532.59 | 9,508.71 |
| 44 | 586.98 | 51.51 | 535.47 | 8,973.24 |
| 45 | 586.98 | 48.61 | 538.37 | 8,434.87 |
| 46 | 586.98 | 45.69 | 541.29 | 7,893.58 |
| 47 | 586.98 | 42.76 | 544.22 | 7,349.36 |
| 48 | 586.98 | 39.81 | 547.17 | 6,802.19 |
| 49 | 586.98 | 36.85 | 550.13 | 6,252.06 |
| 50 | 586.98 | 33.87 | 553.11 | 5,698.95 |
| 51 | 586.98 | 30.87 | 556.11 | 5,142.84 |
| 52 | 586.98 | 27.86 | 559.12 | 4,583.72 |
| 53 | 586.98 | 24.83 | 562.15 | 4,021.57 |
| 54 | 586.98 | 21.78 | 565.2 | 3,456.37 |
| 55 | 586.98 | 18.72 | 568.26 | 2,888.11 |
| 56 | 586.98 | 15.64 | 571.34 | 2,316.77 |
| 57 | 586.98 | 12.55 | 574.43 | 1,742.34 |
| 58 | 586.98 | 9.44 | 577.54 | 1,164.8 |
| 59 | 586.98 | 6.31 | 580.67 | 584.13 |
| 60 | 587.29 | 3.16 | 584.13 | 0 |
Yearly summarytable
| year | interest | principal | endingBalance |
|---|---|---|---|
| 1 | 1,795.47 | 5,248.29 | 24,751.71 |
| 2 | 1,443.98 | 5,599.78 | 19,151.93 |
| 3 | 1,068.95 | 5,974.81 | 13,177.12 |
| 4 | 668.83 | 6,374.93 | 6,802.19 |
| 5 | 241.88 | 6,802.19 | 0 |
Chart series, one row a yeartable
| year | interest | principal | cumulativeInterest | cumulativePrincipal | endingBalance | percentPaidOff |
|---|---|---|---|---|---|---|
| 1 | 1,795.47 | 5,248.29 | 1,795.47 | 5,248.29 | 24,751.71 | 17.49 |
| 2 | 1,443.98 | 5,599.78 | 3,239.45 | 10,848.07 | 19,151.93 | 36.16 |
| 3 | 1,068.95 | 5,974.81 | 4,308.4 | 16,822.88 | 13,177.12 | 56.08 |
| 4 | 668.83 | 6,374.93 | 4,977.23 | 23,197.81 | 6,802.19 | 77.33 |
| 5 | 241.88 | 6,802.19 | 5,219.11 | 30,000 | 0 | 100 |
Its 4 worked examples are re-run on every release, last on 15 September 2026. What changed
Sources and references
2 sources
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What the Auto Loan Amortization Calculator calculates
Builds the full period-by-period amortisation table for a loan, showing how each payment splits between interest and principal.
How to use this Auto Loan Amortization Calculator
Enter Loan amount, Annual interest rate, Loan term and Term - additional months. Payment updates as you type. Change one figure at a time to see what drives the result.
How the result is worked out
Open “How this is worked out” beside the result for the step-by-step calculation behind Payment, Total interest and Total of payments.
The method follows Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 12 CFR Part 1026 (Regulation Z), Appendix J - Annual Percentage Rate Computations.
What you can compare
Change one input at a time to see how it affects Payment, Total interest and Total of payments. The inputs you can vary are Loan amount, Annual interest rate, Loan term, Term - additional months, Payment frequency and Extra payment each period.
Results are general information, not financial, tax, legal, medical or engineering advice. Check any decision that matters with a qualified professional.
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Frequently asked questions
How do I calculate the amortization schedule for a car loan?
Builds the full period-by-period amortisation table for a loan, showing how each payment splits between interest and principal. Open “How this is worked out” beside the result to see each step for your own figures.
What is the 8% rule for cars?
On the figures this page opens with — loan amount 300,000, annual interest rate 5% and loan term 30 years — the payment is 586.98. No single number fits everyone: change any figure above and the answer updates as you type, with each step of the arithmetic beside it.
How to pay off a 7 year car loan in 3 years?
It needs Loan amount, Annual interest rate, Loan term, Term - additional months, Payment frequency and Extra payment each period. Nothing else is required, and the figures stay in your browser.
How much is $40,000 car payment for 60 months?
The result gives Payment, Total interest, Total of payments, Number of payments, Payoff time and Rate per period, each labelled with its unit so the figure can be read on its own.
What information do I need for the Auto Loan Amortization Calculator?
You need Loan amount, Annual interest rate, Loan term, Term - additional months, Payment frequency and Extra payment each period. The page opens with default figures that give payment of 586.98, so you can see the scale before entering your own.
What does this Auto Loan Amortization Calculator show?
It shows Payment, Total interest, Total of payments, Number of payments, Payoff time, Rate per period, Interest per unit borrowed and Interest saved by extra payments, with the working and any warnings for your entries.