Car Payment Calculator — Excel Car Loan Planner with Amortization
Use this car payment calculator to estimate car payment amounts from price, down payment, trade-in, tax, and interest rate. This car loan calculator Excel template goes further with side-by-side car comparison, extra payment simulator, and full amortization schedule.
Free online car payment calculators show you a monthly payment and nothing else. They don't account for sales tax on the full price. They don't let you compare two cars side by side. And they definitely don't show how extra payments change your payoff date.
Three numbers that matter: your monthly payment, your total interest, and your payoff date.
Car Payment Calculator — Excel Car Loan Planner is the solution. This is a full car-buying planner, not just a monthly payment calc. Five tabs cover loan inputs, amortization schedule, extra payment simulator, side-by-side car comparison, and instructions. Enter your numbers once; the spreadsheet does the math. No subscription, no recurring fees.
Key Features
- Full amortization schedule auto-generated for up to 84 months
- Extra payment simulator showing interest saved and early payoff date
- Side-by-side comparison of two cars with cheaper option highlighted
- Sales tax, trade-in, down payment, and rebate all factored into loan amount
- Payoff date calculated automatically from start date and term
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What's Inside
Five tabs cover everything from basic payment calculation to advanced car-buying comparison:
- Dashboard — Enter car price, down payment, trade-in, rebate, sales tax rate, loan rate, term, and start date. See monthly payment, total interest, total cost, and payoff date instantly. Loan amount calculation shown step by step.
- Amortization Schedule — Full payment-by-payment breakdown: Payment #, Date, Beginning Balance, Payment, Principal, Interest, Extra Payment, Ending Balance. Auto-generates for the full term up to 84 months.
- Extra Payment Calculator — Compare Scenario A (no extra) vs Scenario B (recurring extra + one-time extra). Shows interest saved, months saved, and new payoff date using the NPER function.
- Comparison Tool — Enter specs for two cars side by side. See loan amount, monthly payment, total interest, and total cost for each. Cheaper option highlighted automatically.
- Instructions — Step-by-step guide for every tab, cell color legend, car-buying tips, and compatibility info.
How to Use This Car Payment Calculator
- Open the Dashboard tab — Enter your car price, down payment, trade-in value, rebate, sales tax rate, interest rate, loan term, and start date in the yellow cells.
- Review your results — Monthly payment, total interest, total cost, and payoff date calculate automatically in the blue cells.
- Check the Amortization Schedule — See every payment broken down by principal and interest. Add extra payments in the yellow Extra Payment column.
- Compare cars on the Comparison Tool tab — Enter specs for two vehicles. The cheaper option highlights in green.
- Simulate extra payments — On the Extra Payment Calculator tab, enter a recurring and one-time extra to see your savings.
What This Tool Does NOT Do
- It does not calculate insurance, fuel, maintenance, or registration costs — budget for these separately.
- It does not pull live interest rates — enter your pre-approved rate from your lender.
- It does not connect to your bank or auto-import transactions — all inputs are manual.
- It does not calculate depreciation or resale value — use it for loan planning, not total cost of ownership.
- It does not handle leases — this is for purchase loans only.
✓ All formulas unlocked and visible. Zero macros. Compatible with Excel 2016+, Google Sheets, and LibreOffice Calc.
How do I estimate my car payment before going to the dealer?
A: Use this car loan calculator to estimate car payment amounts before you walk in. Get pre-approved to know your rate. Enter the car price, down payment, trade-in, and sales tax on the Dashboard tab. Your monthly payment calculates instantly.
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