Calculate monthly payments and total interest for any loan — auto, personal, or student.
Every loan payment you make is split between principal (paying down what you borrowed) and interest (the cost of borrowing). Early in the loan, most of your payment goes toward interest. Over time, more goes toward principal — this is called amortization.
Auto loan rates typically range from 5–12% depending on your credit score. Personal loans range from 6–36%. Student loan rates vary by loan type. The better your credit score, the lower your rate — improving your score by even 50 points can save you thousands.
A shorter loan term means higher monthly payments but significantly less total interest paid. For example, a $25,000 loan at 7.5% costs $501/month over 5 years ($5,060 interest) vs $388/month over 7 years ($7,569 interest). The 5-year option saves $2,509 in interest.
For informational and educational purposes only. Not financial advice. Consult a qualified professional before making borrowing decisions.