Auto Loan Calculator

Calculate monthly vehicle financing payments, total interest costs, and net loan amounts by accounting for trade-in allowance, cash down payment, and sales tax.

Summary:An auto loan calculator estimates your monthly car payment and total financing cost based on vehicle price, trade-in value, down payment, sales tax, and interest rate.

Loan Parameters

Financing Options
Estimated Monthly Payment
$0.00
Total Financed$0.00
Total Interest Paid$0.00
Total Tax & Fees$500.00
Cash Due at Signing$0.00
Total All-Inclusive Cost$0.00
Cost Breakdown Ratio
Taxes & Fees (100.00%)

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How to Use Auto Loan Calculator

Who This Is For: Car buyers shopping new or used vehicles, dealership negotiators, and borrowers comparing credit union vs. dealer financing. Instructions: 1. Vehicle Price: Enter the purchase price. 2. Down Payment & Trade-in: Enter your cash down payment and vehicle trade-in allowance. 3. Sales Tax (%): Enter your state or local vehicle tax rate. 4. Interest Rate & Loan Term: Enter the annual interest rate and term (e.g., 36, 48, 60, or 72 months). 5. View your estimated monthly car payment and total loan cost.

Auto Loan Calculator Formula / How It Works

How Auto Loan Financing Is Computed: Total Financed = (Vehicle Price - Trade-in - Down Payment) + Sales Tax Monthly Payment = [Total Financed × r(1 + r)^n] / [(1 + r)^n - 1] Financial Disclaimer: This calculation provides estimates. Final dealership contracts may include documentation fees, title and registration costs, destination charges, or dealer warranties. What This Tool Does NOT Do: • Does not calculate GAP insurance or extended warranty add-ons. • Does not value trade-in vehicle equity.

Formula:Payment = [Amount Financed × r(1+r)^n] / [(1+r)^n - 1]
Example Calculation:

• Vehicle Price: $30,000 • Down Payment: $3,000 | Trade-in: $2,000 • Sales Tax: 6% ($1,800) $\to$ Financed: $26,800 • Interest Rate: 5.5% for 60 months (5 years) • Monthly Car Payment: $512.44 • Total Interest: $3,946.40

Frequently Asked Questions

Auto loan rates depend on your credit score, whether the car is new or used, and the loan term. Top-tier credit typically secures the lowest rates.

While longer terms reduce monthly payments, they greatly increase total interest paid and increase the risk of negative equity (owing more than the car is worth).

Sales tax is calculated on the net purchase price (often after deducting trade-in value) and is typically rolled into the financed balance.

A standard recommendation is 20% down for a new car and at least 10% down for a used car to offset initial vehicle depreciation.

Yes. Most simple-interest auto loans allow early payoff without prepayment penalties, saving you future interest charges.

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