Calculator
Auto Loan APR Calculator
This calculator shows what a car loan really costs when it carries an up-front fee. It computes the payment from the stated rate, then finds the APR that reflects the fee and the money you actually receive.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: AutoLoanable may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
The stated rate is not the whole cost when the loan carries an up-front fee. The APR is the rate that makes the present value of your payments equal the money you actually receive.
Payment = P × r ÷ (1 − (1 + r)^-n), then find i such that (P − fee) = payment × (1 − (1 + i)^-n) ÷ i
- P — the amount financed
- r — the monthly rate from the stated annual rate
- i — the monthly rate implied by the fee
- n — the number of monthly payments
- fee — the up-front charge deducted from what you receive
The nominal APR is i multiplied by 12, and the spread is the APR minus the stated rate. If the fee is as large as the amount financed there is no solution and the tool says so. Enter the rate and fee from your own offer.
What changes your result
Only a few inputs move the number materially. In rough order of impact:
| Input | Effect on the payment | Effect on total cost |
|---|---|---|
| Amount financed | Directly proportional | Directly proportional |
| Interest rate / APR | Directly proportional | Directly proportional |
| Term (months) | Lower payment when longer | Higher total interest when longer |
| Down payment | Lowers the payment | Lowers total interest |
| Trade-in equity | Lowers the amount financed | Lowers total interest |
| Sales tax and fees | Raises the amount financed | Raises total cost |
Enter the rate you were actually offered. This site is not a lender and does not publish rates — a quoted rate is only meaningful next to the term and the amount financed.