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Car Loan Calculator

Work out your monthly car payment with trade-in, sales tax and fees included, and see what the car really costs over the whole loan.

Your car

$
$
%
months
Trade-in, tax and fees
$
$
%
$
Monthly payment
$0

    Amount financed
    -
    Total interest
    -
    Due at signing
    -
    Total cost of the car
    -

    Compare terms

    TermPaymentInterestTotal cost

    Amortization schedule

    PrincipalInterest
    YearPrincipalInterestBalance

    Estimates only, not financial advice. Runs on your device, nothing you enter is sent to a server.

    What goes into a car payment

    The payment depends on how much you finance, the interest rate and the term. The amount financed starts with the price of the car, minus your down payment and the value of your trade-in. Sales tax, title, registration and dealer fees are added on top if you roll them into the loan instead of paying them at signing. Whether the paperwork calls it a car loan, an auto loan or vehicle financing, the math is the same.

    • Down payment: every dollar you put down is a dollar you do not pay interest on. 10 to 20 percent is common.
    • Trade-in: its value counts like a down payment, and in most US states it also lowers the sales tax.
    • Negative equity: if you owe more on the old car than it is worth, the difference is added to the new loan.
    • Term: longer terms lower the payment but raise the total interest. The comparison table in the calculator shows by how much.

    The formula

    Amount financed
    price − down − (trade-in − owed) + tax + fees
    Monthly payment
    M = P × r ÷ (1 − (1 + r)−n)

    Tips before you sign

    • Get a rate quote first. A pre-approval from your bank or credit union gives you a rate to compare with the dealer's offer.
    • Negotiate the price, not the payment. A low payment can hide a long term or extra add-ons.
    • Watch the add-ons. Warranties and gap insurance are often rolled into the loan. Enter them as fees to see what they cost per month.

    How to use the car loan calculator

    1. 1Enter the car price, your down payment, the interest rate and the term.
    2. 2Add your trade-in, what you still owe on it, the sales tax rate and fees. Choose whether tax and fees are financed.
    3. 3Compare terms in the table, check the total cost, and copy the result or a link to share.

    Frequently asked questions

    What is included in the amount financed?

    The car price minus your down payment and the equity in your trade-in. If you choose to finance them, sales tax and fees are added on top. If you still owe more on your old car than it is worth, that negative equity is added to the new loan too.

    How does a trade-in lower the sales tax?

    In most US states, sales tax is charged on the price minus the trade-in value, which can save hundreds of dollars. A few states tax the full price. Untick "Tax the price minus trade-in" if that applies to you.

    Is a 72 or 84 month car loan a good idea?

    It lowers the payment but costs much more interest, and cars lose value quickly, so you can owe more than the car is worth for years. Many advisers suggest 60 months or less, and a payment of no more than 10 to 15 percent of your take-home pay.

    What does negative equity mean?

    You owe more on your current car than it is worth. When you trade it in, the difference does not disappear: it is rolled into the new loan, so you pay interest on it again. The calculator warns you when this happens.

    Does the calculator include dealer add-ons?

    Only what you enter as fees. Extended warranties, gap insurance and other add-ons raise the amount financed; add them to the fees field to see their effect on the payment.