Your monthly car repayment
A car loan is repaid in equal monthly amounts over the term. The repayment combines the amount financed (price minus deposit and trade-in), the rate and the number of months. Stretching the term lowers the repayment but raises the total interest.
Common questions
Principal and interest on a fixed-rate car loan. It excludes establishment and monthly account fees, which the comparison rate captures.
A longer term lowers the monthly repayment but increases the total interest you pay over the life of the loan.
Some car loans have a large final (balloon) payment that lowers monthly repayments but leaves a lump sum due at the end. This calculator assumes no balloon.