About the Auto Loan Calculator
Estimate your monthly car loan payment the way dealers do: include the down payment, trade-in value and any amount still owed, sales tax and fees, then compare terms from 24 to 84 months.
Key features
- Monthly car payment
- Down payment and trade-in
- Negative equity (amount owed on trade-in)
- Sales tax and fees included
- Terms from 24 to 84 months
- Full amortization schedule
Estimate your car payment
The sticker price is only part of the story. Your monthly payment also depends on the down payment, trade-in, sales tax, dealer fees, interest rate and loan term. Enter them all to see the real payment and total cost.
How the amount financed is worked out
Amount financed = Price − Down payment − Trade-in value
+ Amount owed on trade-in
+ Sales tax on (Price − Trade-in)
+ Fees
Example: 35,000 car at 6.9% APR
With 5,000 down, 7% sales tax and 800 in fees, the amount financed is 33,250:
| Term | Monthly payment | Total interest |
|---|---|---|
| 36 months | 1,025.14 | 3,655.18 |
| 48 months | 794.67 | 4,894.20 |
| 60 months | 656.82 | 6,159.33 |
| 72 months | 565.28 | 7,450.46 |
| 84 months | 500.21 | 8,767.45 |
Stretching from 48 to 84 months lowers the payment by about 295 but costs almost 3,900 more in interest.
Tips before you sign
- Get pre-approved by a bank or credit union so you can compare with the dealer's financing.
- Negotiate the price first, then talk about financing and trade-in separately.
- Check the APR, not just the monthly payment.
- Watch for add-ons such as extended warranties rolled into the loan.
Related tools
Loan calculator, debt-to-income calculator, and sales tax calculator.
How to use the Auto Loan Calculator
- Enter your numbers in the fields above. Units and options can be changed at any time.
- The result updates instantly as you type; there's no calculate button to press.
- Check the breakdown under the main result for the details behind the number.
- Adjust the inputs to compare scenarios, for example a different rate or term.