Car Loan Total Interest Comparison
Compare up to three auto-loan offers on the same principal. The calculator shows payment, total interest, fees and total repayment so a lower monthly payment does not hide a more expensive loan.
Compare up to three loans
Loan comparison
| Offer | APR | Term | Payment | Interest | Fees | Total repayment |
|---|
How auto-loan interest is compared
For a standard amortizing loan, the monthly payment is calculated from the principal, monthly interest rate and number of payments. Total interest is the scheduled payment total minus the original principal.
Total loan cost = Total scheduled payments − Principal + Finance fees.
Why APR and term must be viewed together
A longer term can reduce the monthly payment while increasing the total interest paid. Comparing only the monthly payment can therefore produce a misleading ranking.
Keep the principal consistent
This tool assumes the same amount financed for all offers. If one lender includes taxes, fees or add-ons in the financed amount and another does not, normalize the offers before comparing them.
Read the contract
Verify whether the quoted rate is fixed, whether fees are included in the APR, and whether there are other charges or payment rules. The calculator is a mathematical comparison, not a representation of a lender's actual contract.
FAQs
Does a longer term always cost more?
Not necessarily in every unusual offer, but with the same principal and comparable APR, extending the term generally increases total interest.
Can the calculator handle 0% APR?
Yes. It then divides principal evenly across the payment count and adds any fees separately.
Should I compare APR or interest rate?
Use the legally defined APR and contract disclosures applicable to your market when comparing offers, and also inspect the actual fees and financed amount.
Does this include a down payment?
No. Enter the actual amount financed after the down payment and other financed amounts are determined.