Car loan
Calculate the monthly payment and real APR of a loan to finance a car, based on the amount, term, nominal rate, and opening fee.
Results
Monthly payment
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Estimated APR
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Total cost of credit
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Total amount payable
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The payment is calculated using the French amortization system over the nominal rate. The APR additionally incorporates the arrangement fee and other costs, reflecting the real effective cost of the loan.
With fees and insurance / Without fees or insurance
With fees and insurance
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Without fees or insurance
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Outstanding balance per year
Interest vs. Principal paid per year
Payment breakdown (first 60 months)
Amortization schedule
| Period | Payment | Interest | Principal | Remaining |
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Car loan
This page is specifically designed for financing a car purchase: the fields are pre-filled with an amount and term typical of this type of loan (shorter than a mortgage, but longer than many small personal loans). Terms vary quite a bit depending on whether you're buying a new or used car - adjust the amount, term, and nominal rate offered by the dealership or bank to see your real payment in each case.
For €15,000 repaid over 60 months (5 years) at a 7.5% nominal rate and a 1.5% opening fee, the monthly payment is €300.57, with an APR of 8.45% (higher than the nominal rate precisely because of the opening fee) and a total loan cost of €3,259.15 (total paid: €18,259.15).
When financing a car through the dealership itself, always compare the APR (not just the payment or the advertised nominal rate) with a personal loan from a bank: dealership financing sometimes includes mandatory insurance or add-on services that push the real APR above what it appears to be at first glance.
Terms change quite a bit depending on the type of car: for a new car worth €20,000 over 7 years (84 months) with a 6% nominal rate and a 1% opening fee, the total loan cost (interest + fee) would be €4,742.37. For a used car worth €12,000 over 5 years (60 months) with a 9% nominal rate and a 1.5% fee - a higher rate and shorter term, typical for used-vehicle financing because the bank takes on more risk with an asset that depreciates faster and has less collateral value - the total cost would be €3,126.02. Adjust the nominal rate and term depending on whether your purchase is new or used.
Frequently asked questions
What term is typical for a car loan?
It usually ranges between 3 and 8 years, shorter than a mortgage since a car is an asset that loses value over time (unlike real estate), and banks prefer not to stretch out financing for a depreciating asset too long.
Is it better to finance a car at the dealership or take a personal loan from a bank?
It depends on the real APR of each offer: dealership financing sometimes includes attractive promotions, but it can also come with mandatory insurance or services that push the APR above a comparable personal loan. Always compare the final APR, not just the payment.
What happens if I want to cancel the car loan early?
Consumer credit regulations allow early repayment, with a possible legally capped fee (typically up to 0.5-1% of the amount repaid, depending on the remaining time). Check your contract's exact terms.
Can I simulate motorcycle financing with this same calculator?
Yes, the logic is the same; you'd just need to adjust the amount and term to what's typical for a motorcycle loan (usually a smaller amount). This site also has a dedicated motorcycle loan page with those values already pre-filled.
Why does financing a used car usually come with worse terms than a new one?
Because a used car depreciates faster and has less value as collateral if the bank had to repossess it, plus more uncertainty about its mechanical condition. That's why banks usually offer a higher nominal rate and a shorter maximum term for used vehicles compared to new ones.