Complete Guide to Auto Loans in 2026
Rates, terms, refinancing and how to get the best deal.
Read guide →Loan Amortization Schedule
Full principal & interest breakdown.
📊 Loan Amortization Schedule
Monthly payment
Total interest
Total paid
| Year | Principal | Interest | Balance |
|---|---|---|---|
How to Use
- Enter the loan amount, APR and term.
- Review the monthly payment and totals.
- Scan the year-by-year schedule to see principal vs. interest over time.
Calculation Method
Each month, interest = balance × (APR ÷ 12); principal = payment − interest; the balance reduces until it reaches zero. Early payments are mostly interest; later payments are mostly principal. The table aggregates by year.
Examples
$250,000 at 6.5% for 30 years
About $1,580/month; total interest exceeds $318,000 over the full term.
Frequently Asked Questions
Interest is charged on the outstanding balance, which is largest at the start, so early payments are mostly interest.
Extra principal payments shrink the balance faster, reducing the interest charged every month thereafter and shortening the term.
It uses standard amortization. Real statements may differ slightly due to rounding and payment timing.
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Read guide →Disclaimer
Calculations are estimates based on the information you provide. Actual loan terms, rates, and payments vary by lender, credit score, and other factors. SmartLoanCalcs is not a lender and this is not a loan offer. We are not responsible for decisions made based on these calculations — consider consulting a licensed lender or financial advisor.
Last updated: May 24, 2026