Auto Loan Calculator
Estimate your monthly car payment including down payment, trade-in and sales tax.
How to use
- Enter the vehicle price and your down payment.
- Add any trade-in value, sales tax and interest rate.
- Set the term in months to see your monthly payment.
How the Auto Loan Calculator works
Calculates the monthly payment on a car loan and the total interest across the term, so you can judge a dealer's offer before signing.
Car finance amortizes like any other fixed-rate instalment loan: monthly rate is the annual rate over 12, the number of payments is the term in months, and the payment clears the balance over that period.
M = P × r / (1 − (1 + r)^−n)
Worked example
Financing $30,000 at 6% over 60 months gives a payment of about $580 and roughly $4,799 of total interest.
Things worth knowing
- Finance the price after your deposit and trade-in, not the sticker price.
- Dealers often negotiate on the monthly payment rather than the total. A longer term can shrink the payment while quietly raising what you pay overall.
- Cars depreciate faster than long loans amortize, so a 72- or 84-month term can leave you owing more than the car is worth for years.
Frequently asked questions
Does it include sales tax?
Yes — the tax is added to the financed amount based on the rate you enter.
How does a trade-in help?
Its value is subtracted from the amount you finance, lowering the monthly payment.
Is a longer car loan a bad idea?
Usually. It lowers the monthly figure but increases total interest and extends the period during which you owe more than the vehicle is worth.
Does my credit score change the payment?
Considerably. The gap between excellent and poor credit is often several percentage points, which on a typical car loan is thousands of dollars.