Auto Calculators
2 free auto tools
The cheapest monthly payment is usually the most expensive car.
Car financing is sold on monthly payment, which makes longer terms look like better deals. These calculators show the total cost instead — interest paid, how quickly the loan outpaces the car's value, and whether leasing or buying works out better for how you actually drive.
Car Loan Calculator
Estimate auto loan payments including down payment, trade-in and sales tax.
Open calculatorAuto Lease vs. Buy Calculator
Compare the total cost of leasing versus buying a car over the same period.
Open calculator
Long terms and depreciation are a bad combination
Cars lose value fastest in their first years, while a long loan repays principal slowest in exactly that period. Stretch a loan to 72 or 84 months and you can spend a long stretch owing more than the car is worth. That matters the moment you want to sell, or if the car is written off — insurance pays the value, not the balance.
Leasing is a different question, not a cheaper answer
A lease payment covers depreciation over the term plus a finance charge, which is why it is usually lower than a loan payment on the same car. But it ends with nothing owned. Leasing tends to suit people who change cars every few years and drive predictable mileage; buying suits people who keep cars well past the point where the loan ends.
Frequently Asked Questions
What car loan term should I choose?+
The shortest you can comfortably afford. Longer terms lower the payment but raise total interest and extend the period where you owe more than the car is worth. Many lenders consider anything beyond 60 months as needing careful thought.
Is leasing cheaper than buying?+
Cheaper per month, usually more expensive over a decade. Leasing pays for depreciation without building equity, so it favours people who replace cars frequently; buying favours those who keep them.