Auto Loan Calculator
Estimate your real monthly car payment. Enter the vehicle price, your down payment and trade-in, the sales tax rate, interest rate and loan term to see the monthly payment and total cost.
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Save ⟶How to use the Auto Loan Calculator
- 1Enter the vehicle price and your cash down payment.
- 2Add any trade-in value and your local sales tax rate.
- 3Enter the loan's interest rate (APR) and term in months.
- 4Review your estimated monthly payment and the total interest you'll pay.
What goes into a car payment
Your auto loan amount is the vehicle price plus sales tax, minus your down payment and any trade-in. That financed amount is then amortized over the loan term at the quoted APR. A larger down payment or trade-in shrinks the loan and every interest charge that follows.
Most regions charge sales tax on the price after the trade-in is deducted, which is a real saving when trading in a vehicle. This calculator applies tax to the post-trade-in price.
Getting a better deal
Loan term is a trap worth understanding: stretching to 72 or 84 months lowers the monthly payment but raises total interest and keeps you 'underwater' (owing more than the car is worth) for longer. Where the monthly payment fits, a shorter term is cheaper overall.
Shop financing separately from the car. A pre-approved rate from your bank or credit union is a benchmark that stops dealer financing from quietly inflating the APR. Even 1% less on a $25,000 loan saves hundreds of dollars.
Frequently Asked Questions
▸Does the calculator include sales tax?
Yes — it adds sales tax on the price after any trade-in is deducted, which matches how most jurisdictions tax vehicle purchases.
▸What term should I choose?
The shortest term whose monthly payment you can comfortably afford. Longer terms cost more in total interest and keep you in negative equity longer.
▸Should I put more money down?
A bigger down payment lowers your loan, your monthly payment and total interest, and reduces the risk of owing more than the car is worth. Aim for at least 10–20% where possible.