Auto Loan Calculator
Estimate your monthly car payment, total interest, and final payoff date. Factor in trade-in, down payment, and sales tax for a real out-the-door cost.
Vehicle & loan details
How to use this calculator
1. Start with the out-the-door price
Use the negotiated vehicle price before tax. The calculator adds sales tax and fees in their own fields so you can see the breakdown.
2. Add your down payment and trade-in
Both reduce the loan amount directly. Trade-in value also typically reduces the taxable amount in most US states (this calculator follows that rule).
3. Pick a term and rate
Common terms are 36–72 months. Longer terms drop the monthly payment but increase total interest. APR depends on credit score, lender, and whether the car is new or used.
4. Read the totals
The "Total interest" line is what the loan actually costs you. Comparing two loans? Look at total interest, not the monthly payment alone.
About auto loans
Loan formula
Same as mortgages: M = L × (r(1+r)n) / ((1+r)n − 1), where L is the loan amount, r is the monthly rate (APR ÷ 12), and n is the number of months.
New vs. used rates
New cars usually get lower APRs than used. Manufacturer-financed promotions (0% APR for 60 months) often require strong credit and may exclude rebates.
Watch for "negative equity"
If you're trading in a car you still owe money on, the remaining balance can roll into the new loan. That increases what you finance and the total interest. Pay off the old loan first when possible.