Auto loan calculator
Car Loan Calculator
Estimate a monthly auto loan payment using vehicle price, down payment, trade-in value, sales tax, interest rate and loan term. This calculator can help you compare car financing scenarios before visiting a dealer or lender.
Estimate the payment before focusing only on the sticker price
A car payment depends on more than the vehicle price. Sales tax, down payment, trade-in value, interest rate and loan term can all change the amount you finance and the total interest you pay over time.
Use the results as an educational estimate. Dealer fees, title fees, registration, insurance, warranties and lender charges can change the real out-the-door cost.
Car loan estimate breakdown
This table shows how the calculator moves from vehicle price to the estimated amount financed and total repayment.
| Item | Estimated amount |
|---|---|
| Vehicle price | $35,000.00 |
| Estimated sales tax | $2,100.00 |
| Down payment | -$5,000.00 |
| Trade-in value | -$0.00 |
| Estimated amount financed | $32,100.00 |
| Estimated total interest | $6,493.09 |
| Total of loan payments | $38,593.09 |
| Interest as % of amount financed | 20.23% |
Loan term comparison
A longer loan term can lower the monthly payment, but it can also increase the total amount of interest paid. Compare nearby terms before choosing a loan length.
| Loan term | Monthly payment | Total interest | Total paid |
|---|---|---|---|
| 48 months | $776.14 | $5,154.85 | $37,254.85 |
| 60 months | $643.22 | $6,493.09 | $38,593.09 |
| 72 months | $555.01 | $7,860.91 | $39,960.91 |
How this car loan calculator works
The calculator starts with the vehicle price, adds estimated sales tax, then subtracts your down payment and trade-in value. The remaining amount is treated as the estimated amount financed.
What affects a car payment?
The biggest factors are vehicle price, loan amount, interest rate and repayment term. A higher price or higher rate usually increases the payment. A larger down payment or trade-in usually lowers it.
Why down payment and trade-in value matter
Down payments and trade-ins reduce the amount financed. Financing a smaller balance can reduce both monthly payment and total interest.
Why a longer loan term can cost more
Longer terms often reduce the monthly payment, but interest has more time to accumulate. A lower monthly payment is not always the lower total-cost choice.
Example car loan estimate
With a $35,000.00 vehicle price, $5,000.00 down payment, 6.00% sales tax, 7.50% interest rate and 60 month term, the estimated monthly payment is about $643.22. Total interest is estimated at about $6,493.09.
Important limitations
This calculator provides simplified educational estimates only. It does not include every dealer fee, registration fee, title fee, warranty, insurance cost, lender charge, negative equity, rebate, incentive or state-specific rule. It is not financial, legal, tax, lending or car-buying advice.
Frequently asked questions
Does this calculator include taxes and fees?
It includes a simple sales tax estimate based on the percentage you enter. It does not include dealer documentation fees, title, registration, insurance, warranties or lender-specific charges.
Is a longer car loan always better?
Not always. A longer term may lower the monthly payment, but it can increase total interest and may keep you in debt longer.
Why is my dealer quote different?
Dealer quotes may include exact taxes, fees, rebates, add-ons, warranties, negative equity, credit-based rates and lender-specific terms that this simplified calculator does not fully model.
Should I compare APR too?
Yes. APR can help compare loan offers because it may include interest and certain financing fees. Use the APR calculator along with this car loan calculator when comparing offers.