Skip to content
Calculadora Capital

Car Loan Calculator (Portugal)

How much will a car loan cost you each month? This calculator estimates the payment from the car price, the down payment, the nominal annual rate (TAN) and the term, and lets you add a residual value (the final balloon that lowers the payment but is owed at the end). It also shows the TAEG (the APR), which measures the real cost of the credit, the total you pay and the total cost.

You finance the price minus the down payment. If you set a residual value the payment is lower, but you owe that amount at the end. The TAEG (APR) bundles the interest and the upfront fee and measures the real cost of the credit. Leave the down payment, residual and fees at zero if they do not apply.

Monthly payment
€356.60
TAEG / APR (real cost)
8.84%
Total cost of credit
€5,395.87
Final balloon (residual value)
€4,000.00

Car loan summary

Vehicle price€25,000.00
Down payment€5,000.00
Amount financed€20,000.00
TAN (nominal annual rate)8.5%
TAEG (effective cost)8.84%
Number of payments60
Final balloon (residual value)€4,000.00
Total paid (60 payments + final balloon)€25,395.87
Of which interest€5,395.87
Total cost of credit€5,395.87

Educational estimate, not financial advice. It computes the capital-and-interest payment (French system) on the amount financed (price − down payment) at the TAN you choose, amortising down to the residual value, and the TAEG with the upfront fee you enter. It excludes monthly commissions, insurance and stamp duty, which can raise the bank's real TAEG.

Video: how to use the calculator

What a car loan is

A car loan is a form of consumer credit used to buy a vehicle, new or used, repaid in monthly instalments. It usually finances the car price minus your down payment, tends to have lower rates and longer terms than a personal loan, and the bank often keeps a reserva de propriedade (title to the car) until it is paid off. Many offers include a residual value (a larger final payment), which is what sets a car loan apart from a plain personal loan.

Down payment and residual value: what moves the payment

You only finance the price minus your down payment, so a bigger down payment lowers the balance and the interest you pay. The residual value is a slice of the financing kept until the end: during the loan the payment only amortises the difference, which makes it lower, but at the end you must pay that residual value in one go (refinance it, or with some products hand the car back). A larger residual means a lower monthly payment but more total interest, because the capital stays outstanding for longer.

How the payment is calculated

The payment is constant (the "French" amortisation system): each instalment covers that month’s interest on the outstanding balance and repays the rest, down to the residual value at the end. The formula is payment = (financed − residual ÷ (1 + i)^n) × i / (1 − (1 + i)^−n), where i is the monthly rate (the TAN divided by 12) and n is the number of months. With a zero residual it reduces to the payment of a fully-amortising loan.

TAN and TAEG: the difference that matters

The TAN (nominal annual rate) is the rate that drives the payment. The TAEG (the APR) measures the real cost of the credit: it bundles the interest with every charge, such as the arrangement fee, stamp duty and monthly commissions. The TAEG is therefore always higher than the TAN, and it is the number to compare between offers. The calculator shows the TAEG with the upfront fee you enter.

Worked example

On a €25,000 car with a €5,000 down payment (financing €20,000) over 60 months (5 years), at an 8.5% TAN and a €4,000 residual value, the payment is about €356.60 a month. That is lower than the €410.33 you would pay with no residual, but at the end you still owe the €4,000 balloon. Over the loan you would pay about €25,396 (including the final balloon), of which about €5,396 is interest, and the TAEG would be 8.84%.

Frequently asked questions

How is a car loan payment calculated?
You finance the car price minus the down payment and apply the amortisation (French-system) formula: payment = (financed − residual ÷ (1 + i)^n) × i / (1 − (1 + i)^−n), where i is the monthly rate (the TAN ÷ 12) and n is the number of months. With no residual value the formula simplifies to a fully-amortising payment. This calculator applies that formula to your figures.
What is the residual value in a car loan?
It is a slice of the financing kept until the end of the loan. During the loan the payment only amortises the difference, so it is lower; at the end you must pay the residual value in one go, refinance it into a new payment or, with some products, hand the car back. A higher residual value lowers the monthly payment but raises the total interest you pay.
Does the down payment make a difference?
Yes. You only finance the car price minus the down payment, so a bigger down payment reduces the balance, the payment and the total interest. With no down payment you finance the whole price. You can compare both scenarios by changing the down payment in the calculator.
What is the difference between the TAN and the TAEG?
The TAN (nominal annual rate) is the interest rate that drives the payment. The TAEG (APR) includes the interest plus every cost of the credit, such as the arrangement fee, monthly commissions and stamp duty. The TAEG is always higher than the TAN and is the right rate to compare offers from different banks.
Is a car loan different from leasing or renting?
Yes. With a car loan the car is yours from the start (usually with the bank holding title until it is paid off) and it remains yours at the end. With leasing and renting you pay to use the car for a term, with a purchase option (leasing) or a return (renting) at the end. This calculator covers the car loan; leasing and renting are distinct products.
Are the figures guaranteed?
No. It is an educational estimate at the rate, term and residual value you choose. A real bank offer may include commissions, insurance and taxes, and is subject to credit approval. The rate also cannot exceed the maximum rate Banco de Portugal publishes each quarter. It is not financial advice.

Related calculators & reading

Embed this calculator

Paste this code on your site to show the calculator. It includes an attribution link.

Language
Theme
Colour

Preview

Free to use. The code auto-adjusts its height.

Sources

Author: Thorben Rasmus Idel · Reviewed by: Nahar Geva · Last reviewed: 2026-06-13