36-month car loan calculator
See the monthly payment and the total interest on a car financed over 36 months (3 years), or type the payment you were offered to find its interest rate.
Loan details
The four numbers that appear in the offer.
Rate results
Fill in the details to see your rate
With the price, the down payment, the term and the monthly payment we estimate the interest rate built into that offer.
- Enter the total price and how much you will pay up front.
- Set how many months you will take to pay it.
- Add the monthly payment you are being offered.
These numbers do not describe a loan with a non-negative interest rate
Check the values: the term, the payment or the down payment may not match this offer.
Estimated effective annual rate Example
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No interest: the payments return exactly the amount financed.
- Estimated monthly rate
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- Estimated nominal annual rate
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- Amount financed
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- Total of payments
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- Total interest
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- Total outlay
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Principal and interest
Amortization schedule
| Payment | Interest | Principal | Ending balance |
|---|
Each payment first covers the month's interest; the rest lowers the balance. The last payment absorbs any rounding so the balance ends at exactly zero.
How is it calculated?
We look for the monthly rate that makes the present value of every payment equal the amount financed (the price minus the down payment). In other words: the rate at which those future payments are worth today exactly what you were lent.
Amount financed = Payment × [1 − (1 + i)^−n] ÷ i Where i is the monthly rate and n the number of months. There is no way to solve for i directly, so values are tried until both sides match.
The other two rates come from that monthly rate:
Nominal annual = i × 12 · Effective annual = (1 + i)^12 − 1 The effective one is higher because it accounts for interest building up month after month.
Estimate based on equal monthly payments made at the end of each month, with no fees, insurance or balloon payment. Additional charges can change the real cost of the loan.
Car details
Price, down payment and the rate you are offered.
Financing options
Fill in the details to compare terms
With the price, the down payment and the annual rate we work out the payment for each term, how much you would pay in total and how much interest each option carries.
- Enter the car price and the down payment.
- Set the annual rate and whether it is nominal or effective.
- Add a custom term if you need one.
The payments cannot be worked out with these numbers
Amount financed Example
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Details changed · compare again
With a 0 % rate, every term carries zero total interest.
| Term | Months | Monthly payment | Total interest | Total of payments | Total with down payment |
|---|
marks the lowest monthly payment and the lowest total interest of the terms compared.
Selected option
Summary of the term you pick in the table
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- Amount financed
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- Total interest
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- Total of payments
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- Total outlay
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- Sales tax
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- Paid up front
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- Total cost
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A longer term usually lowers the monthly payment and raises the total interest. No option is recommended automatically: the choice depends on how much you can pay each month.
Amortization schedule
| Payment | Interest | Principal | Ending balance |
|---|
Each payment first covers the month's interest; the rest lowers the balance. The last payment absorbs any rounding so the balance ends at exactly zero.
How is it calculated?
First the annual rate becomes a monthly rate. A nominal rate is divided by twelve; an effective rate is spread out in compound terms:
Nominal: r = rate ÷ 12 · Effective: r = (1 + rate)^(1/12) − 1 With that monthly rate, each term's payment comes from the equal-payment formula:
Payment = P × r ÷ [1 − (1 + r)^−n] Where P is the amount financed and n the number of months. The total interest is the sum of the payments minus the amount financed.
If you fill in taxes, fees and trade-in, the amount financed and what you pay up front change like this (taxes and fees go into one or the other, depending on the checkbox):
Sales tax = (price − trade-in value) × tax rate · Amount financed = price + taxes and fees if financed − down payment − rebate − trade-in value + amount owed on trade-in Paid up front = down payment + taxes and fees if not financed · Total cost = price − rebate + sales tax + fees + total interest Estimated payments for a fixed-rate loan with payments at the end of each month. Taxes, fees and a trade-in are included only if you add them under “Taxes, fees and trade-in”; insurance and balloon payments are not included. Rounding the payments may produce small differences in the final payment.
The lease quote
Copy the figures exactly as the dealer wrote them.
Results
Find the rate inside a lease quote
Lease quotes rarely state the money factor. It can be worked out from the payment.
- Enter the MSRP, selling price and down payment.
- Add the residual value and the term.
- Type the monthly payment you were quoted, then press Check.
These numbers don't add up
Rate built into this lease (APR equivalent) Example
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Press Check to update
- Money factor
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- Residual (% of MSRP)
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- Discount off MSRP
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- Payment as % of MSRP
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- Total cost of the lease
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- Effective cost per month
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- Finance charge over the term
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- Cost per mile allowed
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| Part | Per month |
|---|---|
| Depreciation fee | |
| Finance fee (the rent charge) | |
| Sales tax | |
| Payment |
What these figures don't show: mileage overage and wear-and-tear charges at lease end, the disposition fee, insurance requirements, and whether the residual and money factor match what the leasing company publishes for this car this month — ask the dealer for both in writing.
How this is calculated
A lease payment is built from two parts, before tax:
depreciation fee = (adjusted cap cost − residual) ÷ term finance fee = (adjusted cap cost + residual) × money factor Knowing the payment, the only unknown is the money factor:
money factor = (payment before tax − depreciation fee) ÷ (adjusted cap cost + residual) Adjusted cap cost = selling price + fees added to the lease − down payment. APR equivalent = money factor × 2400. Total cost = due at signing + remaining payments (or down payment + all payments when due at signing is blank).
Figures for comparison only, worked out from the numbers you enter. They don't rate the offer: the lease contract sets the real terms.
36-month car loan payments by amount and rate
Monthly payment for the amount financed (price minus down payment) at each nominal annual rate, over 36 months.
| Amount financed | 4 % | 6 % | 8 % | 10 % | 12 % | 15 % |
|---|---|---|---|---|---|---|
| $15,000 | $442.86 | $456.33 | $470.05 | $484.01 | $498.21 | $519.98 |
| $20,000 | $590.48 | $608.44 | $626.73 | $645.34 | $664.29 | $693.31 |
| $25,000 | $738.10 | $760.55 | $783.41 | $806.68 | $830.36 | $866.63 |
| $30,000 | $885.72 | $912.66 | $940.09 | $968.02 | $996.43 | $1,039.96 |
| $40,000 | $1,180.96 | $1,216.88 | $1,253.45 | $1,290.69 | $1,328.57 | $1,386.61 |
| $50,000 | $1,476.20 | $1,521.10 | $1,566.82 | $1,613.36 | $1,660.72 | $1,733.27 |
36 months against the other terms
The same $25,000 at 8 % nominal annual spread over every standard term. The longer the term, the lower the payment and the higher the total interest.
| Term | Monthly payment | Total interest | Total of payments |
|---|---|---|---|
| 36 months | $783.41 | $3,202.73 | $28,202.73 |
| 48 months | $610.32 | $4,295.51 | $29,295.51 |
| 60 months | $506.91 | $5,414.59 | $30,414.59 |
| 72 months | $438.33 | $6,559.83 | $31,559.83 |
| 84 months | $389.66 | $7,731.05 | $32,731.05 |
How fast the balance comes down over 36 months
Early payments are mostly interest, so the balance falls slowly at first. This is what is still owed on $25,000 at 8 % at the end of each year — useful if you might sell or trade the car before the loan ends.
| After | Payments made | Balance still owed | Share of the loan repaid |
|---|---|---|---|
| 1 year | 12 | $17,322 | 31 % |
| 2 years | 24 | $9,006 | 64 % |
Frequently asked questions
What is the monthly payment on a $25,000 car loan over 36 months?
With $25,000 financed over 36 months, the payment is $760.55 at 6 %, $783.41 at 8 % and $806.68 at 10 % nominal annual. Those figures assume equal monthly payments, a fixed rate and no fees.
How much interest do you pay on a 36-month car loan?
It depends on the amount and the rate. On $25,000 at 8 % nominal annual over 36 months you pay $3,202.73 in interest, which is 12.8 % of the amount financed. The table on this page shows other amounts and rates.
How does a 36-month loan compare with a 48-month loan?
On $25,000 at 8 %, the 36-month payment is $783.41 and the 48-month payment is $610.32. Total interest is $3,202.73 versus $4,295.51. A longer term lowers the payment and raises the total interest; which matters more depends on your budget.
Can I find the rate on a 36-month offer if the dealer only gives me the payment?
Yes. Open «Find the rate», type the price, the down payment, 36 months and the monthly payment you were quoted. The calculator works out the monthly, nominal annual and effective annual rate that those numbers imply.