💳 Car Loan Calculator
Enter the vehicle price, down payment, trade-in, interest rate, term, and sales tax to estimate your monthly payment, the amount financed, total interest, and total cost.
🚙 Price, Rate & Term
What is a Car Loan Calculator?
It models an auto loan end to end: it adds sales tax, subtracts your down payment and trade-in to find the amount you actually finance, then amortizes that over your chosen term and rate to produce a level monthly payment. It also totals the interest you'll pay and the full cost of the car once financing is included.
Use it to set a budget before you shop, test how a bigger down payment or shorter term changes the numbers, or sanity-check a dealer's offer. The results are estimates for planning — fees and your actual approved rate will shift the final figures.
❓ Frequently Asked Questions
How is the monthly car payment calculated?
It uses the standard amortization formula. The financed amount (price plus sales tax, minus your down payment and trade-in) is spread over the term at a fixed monthly rate — the APR divided by 12. The result is a level payment where early payments are mostly interest and later ones are mostly principal.
How do the down payment and trade-in affect the loan?
Both reduce the amount you finance, which lowers the monthly payment and the total interest. A trade-in can also shrink your taxable amount: many states charge sales tax only on the price after the trade-in is deducted, which is how this calculator treats it. Together they're the fastest way to cut the cost of financing.
Does a longer loan term save money?
A longer term lowers the monthly payment but raises the total interest, because you're borrowing for longer. Stretching to 72 or 84 months also increases the risk of being 'upside down' — owing more than the car is worth. Compare a few terms here to balance an affordable payment against the total cost.
Will my real payment match this estimate?
It should be close, but these are estimates for planning; actual figures vary by lender, credit, fees, add-ons, and how your state taxes trade-ins. Dealer documentation fees, gap insurance, and extended warranties can change the financed amount. Use a real quote for the final number.