Car payment calculator
Free tool · RetailWork out a car payment with a down payment and a trade in, paid monthly, every two weeks or weekly. Buy here pay here lots often collect every week or every two weeks, so pick the schedule that matches your customer’s payday.
Payment
$137.79 every two weeks
Number of payments
52
Amount financed
$6,000.00
Last payment
$137.95
Total paid
$7,165.24
Total interest
$1,165.24
Total cost of the car
$9,165.24
An estimate for planning. Check the numbers with your accountant before you decide.
How the math works
Amount financed = price − down payment − trade in. Rate per payment r = APR ÷ payments per year (12 monthly, 26 every two weeks, 52 weekly). Number of payments n = months ÷ 12 × payments per year.
Payment = amount financed × r ÷ (1 − (1 + r) to the power of −n), rounded to the cent. With a 0% APR the payment is the amount financed ÷ n. The last payment moves a few cents so the balance ends at zero.
The example is an $8,000 car with $1,500 down and a $500 trade in, at 18% APR for 24 months, paid every two weeks.
This is an estimate before tax, title, license and fees. The signed contract and its Truth in Lending disclosure set the real numbers.