Calculate the monthly payment, total interest, and total cost on any fixed-rate loan — auto, personal, student, or home.
What it means
This is a standard amortizing-loan calculator: equal monthly payments where each payment covers interest on the remaining balance plus a chunk of principal. Use it for car loans, personal loans, RVs, motorcycles, or any other fixed-rate, fixed-term loan.
Stretching a loan term lowers the monthly payment but increases total interest paid — sometimes dramatically. A 36-month vs 72-month car loan can be the same monthly payment in two very different financial worlds.
FAQ
It works for any fixed-rate loan, including mortgages, but our dedicated mortgage calculator also handles property taxes and insurance in the monthly payment.
This version doesn't model prepayments. Most extra principal payments shorten the loan term rather than reduce the regular payment amount.