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Auto Loan Calculator

Estimate your car payment with the down payment, trade-in, and sales tax built in. See the monthly cost and the total interest before you step onto the lot.

Loan details

Everything updates instantly and stays in your browser.

%
%
months
Common terms
$0

Your payment

Financing $33,920 after down payment and trade-in.

Monthly payment

$679.69

over 5 years · $33,920 financed

Total interest

$6,861

Total paid

$40,781

Payoff time

5 years

Year-by-year principal, interest, and remaining balance.
YearPrincipalInterestBalance
1$5,809$2,347$28,111
2$6,260$1,896$21,851
3$6,746$1,410$15,104
4$7,270$886$7,834
5$7,834$322$0

Estimates for a fixed-rate, fully-amortizing loan. Your actual rate, fees, and terms depend on the lender and your credit.

The real cost of a car isn't the sticker

The price on the window is only part of the story. Sales tax, the loan term, and your APR all change what the car actually costs. Enter the vehicle price, your down payment and trade-in, and the calculator does the rest — including the total interest, which the dealer's monthly-payment focus tends to bury.

Watch the term, not just the payment

Stretching a loan to 72 or 84 months makes almost any car "affordable" on paper, but it's how buyers end up owing more than the vehicle is worth. A shorter term costs more each month and thousands less overall. Toggle the term buttons above to see the trade-off.

Example

A $32,000 car at 7.5% with $4,000 down over 60 months is roughly $560 a month. Extend it to 84 months and the payment drops toward $430 — but you'll pay well over $1,500 more in interest and spend two extra years in the loan.

Before you sign

Make sure the payment fits your budget with the 50/30/20 budget calculator, and check the loan against your debt-to-income ratio. For any other loan, use the general loan calculator.

Related calculators

Loan CalculatorPayment, total interest, and amortization for any fixed-rate loan.Amortization Schedule CalculatorFull month-by-month principal and interest breakdown for any loan.Debt-to-Income Ratio CalculatorFind your DTI — the number lenders use to approve loans and mortgages.RV Loan CalculatorMonthly payment and interest on a motorhome or travel-trailer loan.

Frequently asked questions

How is the amount I finance calculated?
It’s the vehicle price plus sales tax, minus your down payment and trade-in value. This calculator applies sales tax to the price after the trade-in (how most states handle it), then subtracts your cash down and trade-in to get the financed amount.
What car loan term should I pick?
Shorter is cheaper. A 72- or 84-month loan lowers the monthly payment but you pay far more interest and risk owing more than the car is worth. Many buyers aim for 48–60 months and a payment under 10% of take-home pay.
How much should I put down on a car?
A common target is 20% down on a new car and 10% on a used one. A bigger down payment shrinks the amount financed, lowers the payment, and reduces the chance of going “underwater” on the loan.
Does my credit score affect the rate?
Significantly. Buyers with top credit see the lowest advertised APRs; lower scores can pay several points more. Getting pre-approved by a bank or credit union first gives you a rate to beat at the dealer.