Auto Loan Calculator
Estimate your monthly car payment from the vehicle price, down payment, trade-in, sales tax, APR, and term — with total interest and total cost.
Auto loan details
Enter the vehicle price, APR, and term to estimate your monthly car payment.
The Auto Loan Calculator estimates your monthly car payment from the vehicle price, down payment, trade-in, sales tax, APR, and loan term. It shows the amount financed, total interest, and total cost so you can budget before stepping into the dealership.
How to use the Auto Loan Calculator
- Enter the vehicle price and the APR your lender offers.
- Add your down payment and any trade-in value.
- Enter the sales tax rate and the loan term in months.
- Read your estimated monthly payment, amount financed, and total interest.
Frequently asked questions
- How is the car payment calculated?
- The amount financed is the price minus your down payment and trade-in, plus sales tax. That figure is run through the standard loan formula using your APR and term to produce a fixed monthly payment.
- Is sales tax charged on the trade-in?
- In most U.S. states, sales tax applies to the price after the trade-in is deducted, which lowers your tax. This calculator follows that common rule, taxing the vehicle price minus the trade-in value.
- What's the difference between APR and interest rate?
- The interest rate is the cost of borrowing the principal, while APR also folds in certain loan fees, so it's usually slightly higher. Entering the APR gives a more complete picture of the loan's cost.
- How does the loan term affect my payment?
- A longer term (like 72 months) lowers the monthly payment but increases total interest. A shorter term costs more each month but less overall. Compare a few terms to find the right balance.