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Car Loan Calculator

Calculate your car loan monthly payments and total interest.

원
원
%
months

How to Calculate

Car loan payments are calculated using the equal principal & interest (EMI) method. Loan amount = Car price − Down payment PMT = P × r × (1+r)^n / ((1+r)^n − 1) P = loan amount, r = monthly rate, n = number of months Car loans are typically arranged through a finance company; the rate depends on your credit score and vehicle type.

Example

Car price: ₩40,000,000, Down payment: ₩10,000,000 Annual rate: 6%, Loan period: 48 months - Loan amount: ₩30,000,000 - Monthly payment: approx. ₩704,549 - Total payment: approx. ₩33,818,352 - Total interest: approx. ₩3,818,352

FAQ

What is the typical car loan interest rate?
New cars are typically 3–8%, used cars 5–15%. Manufacturer financing promotions can offer lower rates.
How much down payment is recommended?
Generally 20–30% of the car price is recommended. A larger down payment reduces the interest burden.
How do I choose the loan period?
Common options are 24, 36, 48, or 60 months. A shorter term means higher monthly payments but less total interest.