Car loan calculator
Estimate your Swedish car loan with monthly payment, total interest, and total cost based on price, down payment, interest, term, and residual value.
Frequently asked questions
What is residual value (balloon) in a car loan?
Residual value (often called a balloon) is the amount left to pay at the end of the term. It reduces monthly payments, but you must plan for the final lump sum (pay it off, refinance, or sell the car).
Does a higher down payment reduce the total cost?
Usually, yes. A larger down payment lowers the loan amount, which typically reduces total interest. It can also improve the terms you’re offered.
Why can two loans with the same interest rate have different monthly payments?
Monthly payment depends on the financed amount, the term, and whether there is a balloon/residual at the end. Fees and how interest is calculated can also affect the real cost.
What should I compare when choosing between offers?
Compare the effective interest rate, fees, total interest, total cost including any residual, and what happens at the end of the term. The cheapest monthly payment is not always the cheapest total.
Why residual value matters
A higher residual (balloon) value lowers the monthly payment but leaves a bigger lump sum at the end or in a refinance. Our calculator separates the residual so you can see both the monthly impact and the total cost.
Down payment reduces interest
A larger down payment decreases the loan amount and lowers total interest paid. Try different down payments to see how much you save over the term.
Plan for the total cost
Beyond the monthly payment, include the residual amount and total interest to understand the full cost of the car. Use this to compare financing offers or decide if leasing is a better fit.
Car loan: estimate monthly payment and total cost
A car loan can look affordable month to month, but the real cost depends on interest, fees, term length, and whether you have a residual value (balloon) at the end. This calculator helps you compare setups and understand the full picture.
How a car loan works
A typical car loan includes:
- Down payment: what you pay upfront.
- Amount financed: price minus down payment.
- Interest rate: what you pay for borrowing.
- Term: how long you repay.
- Fees: e.g. setup fees or invoice fees.
- Residual value (balloon): a larger final payment at the end.
Monthly payment vs total cost
Lower monthly payments are often achieved by stretching the term or adding a balloon. That can increase total interest paid.
When comparing offers, look at:
- Total interest over the full term
- Fees (one-time and recurring)
- Total cost including any final balloon
Residual value (balloon): pros and risks
A balloon can make sense if you:
- want a lower monthly payment
- expect to sell or switch cars after a few years
- have a clear plan for the final payment
The final payment needs funding: savings, extra repayments during the term, selling the car, or refinancing.
Tips before you sign
- Compare the effective rate (APR), not just the nominal rate.
- Ask what it costs to repay early.
- Factor in depreciation and keep a cash buffer.
- Test scenarios: shorter term, larger down payment, no balloon.
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