Car loan calculator
$238.41/month principal and interest
$2,304 total interest
Principal $12,000 Interest $2,304. 16¢ of every dollar paid goes to interest.
$12,000 financed over 60 months at 7.14%.
Sales tax not included; choose a state to add it.
Source: Federal Reserve G.19, May 2026 survey. An average, not an offer.
Amortization schedule
First 12 months
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $167.01 | $71.40 | $11,832.99 |
| 2 | $168.00 | $70.41 | $11,664.99 |
| 3 | $169.00 | $69.41 | $11,495.99 |
| 4 | $170.01 | $68.40 | $11,325.98 |
| 5 | $171.02 | $67.39 | $11,154.96 |
| 6 | $172.04 | $66.37 | $10,982.93 |
| 7 | $173.06 | $65.35 | $10,809.87 |
| 8 | $174.09 | $64.32 | $10,635.78 |
| 9 | $175.12 | $63.28 | $10,460.66 |
| 10 | $176.17 | $62.24 | $10,284.49 |
| 11 | $177.22 | $61.19 | $10,107.27 |
| 12 | $178.27 | $60.14 | $9,929.00 |
Year by year
| Year | Principal | Interest | Balance at year end |
|---|---|---|---|
| 1 | $2,071 | $790 | $9,929 |
| 2 | $2,224 | $637 | $7,705 |
| 3 | $2,388 | $473 | $5,317 |
| 4 | $2,564 | $297 | $2,753 |
| 5 | $2,753 | $108 | $0 |
| Total | $12,000 | $2,304 | $0 |
Full schedule, all 60 payments
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 167.01 | 71.40 | 11,832.99 |
| 2 | 168.00 | 70.41 | 11,664.99 |
| 3 | 169.00 | 69.41 | 11,495.99 |
| 4 | 170.01 | 68.40 | 11,325.98 |
| 5 | 171.02 | 67.39 | 11,154.96 |
| 6 | 172.04 | 66.37 | 10,982.93 |
| 7 | 173.06 | 65.35 | 10,809.87 |
| 8 | 174.09 | 64.32 | 10,635.78 |
| 9 | 175.12 | 63.28 | 10,460.66 |
| 10 | 176.17 | 62.24 | 10,284.49 |
| 11 | 177.22 | 61.19 | 10,107.27 |
| 12 | 178.27 | 60.14 | 9,929.00 |
| 13 | 179.33 | 59.08 | 9,749.67 |
| 14 | 180.40 | 58.01 | 9,569.28 |
| 15 | 181.47 | 56.94 | 9,387.81 |
| 16 | 182.55 | 55.86 | 9,205.26 |
| 17 | 183.64 | 54.77 | 9,021.62 |
| 18 | 184.73 | 53.68 | 8,836.89 |
| 19 | 185.83 | 52.58 | 8,651.06 |
| 20 | 186.93 | 51.47 | 8,464.13 |
| 21 | 188.05 | 50.36 | 8,276.08 |
| 22 | 189.17 | 49.24 | 8,086.92 |
| 23 | 190.29 | 48.12 | 7,896.63 |
| 24 | 191.42 | 46.98 | 7,705.20 |
| 25 | 192.56 | 45.85 | 7,512.64 |
| 26 | 193.71 | 44.70 | 7,318.93 |
| 27 | 194.86 | 43.55 | 7,124.07 |
| 28 | 196.02 | 42.39 | 6,928.05 |
| 29 | 197.19 | 41.22 | 6,730.87 |
| 30 | 198.36 | 40.05 | 6,532.51 |
| 31 | 199.54 | 38.87 | 6,332.97 |
| 32 | 200.73 | 37.68 | 6,132.24 |
| 33 | 201.92 | 36.49 | 5,930.32 |
| 34 | 203.12 | 35.29 | 5,727.20 |
| 35 | 204.33 | 34.08 | 5,522.87 |
| 36 | 205.55 | 32.86 | 5,317.32 |
| 37 | 206.77 | 31.64 | 5,110.55 |
| 38 | 208.00 | 30.41 | 4,902.55 |
| 39 | 209.24 | 29.17 | 4,693.31 |
| 40 | 210.48 | 27.93 | 4,482.83 |
| 41 | 211.73 | 26.67 | 4,271.10 |
| 42 | 212.99 | 25.41 | 4,058.10 |
| 43 | 214.26 | 24.15 | 3,843.84 |
| 44 | 215.54 | 22.87 | 3,628.30 |
| 45 | 216.82 | 21.59 | 3,411.48 |
| 46 | 218.11 | 20.30 | 3,193.37 |
| 47 | 219.41 | 19.00 | 2,973.97 |
| 48 | 220.71 | 17.70 | 2,753.25 |
| 49 | 222.03 | 16.38 | 2,531.23 |
| 50 | 223.35 | 15.06 | 2,307.88 |
| 51 | 224.68 | 13.73 | 2,083.20 |
| 52 | 226.01 | 12.40 | 1,857.19 |
| 53 | 227.36 | 11.05 | 1,629.83 |
| 54 | 228.71 | 9.70 | 1,401.12 |
| 55 | 230.07 | 8.34 | 1,171.05 |
| 56 | 231.44 | 6.97 | 939.61 |
| 57 | 232.82 | 5.59 | 706.80 |
| 58 | 234.20 | 4.21 | 472.59 |
| 59 | 235.60 | 2.81 | 237.00 |
| 60 | 237.00 | 1.41 | 0.00 |
Sources
- New-car loan, 60 months average: 7.14%. Federal Reserve G.19 Consumer Credit, terms of credit at commercial banks, series RIFLPBCIANM60NM, as of May 1, 2026; retrieved September 26, 2026.
- State vehicle sales tax and trade-in rules. State revenue departments and DMVs; state rate only, local taxes excluded.
Numbers on this page last changed September 26, 2026. How they are calculated: methodology.