Auto Loan Calculator
The Auto Loan Calculator estimates your monthly car payment based on the vehicle price, down payment, trade-in value, interest rate, loan term, and sales tax.
Monthly Payment
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Amount Financed--
Total Interest--
Total Cost--
How your car payment is calculated
The amount you finance is the vehicle price plus sales tax, minus your down payment and trade-in value. That amount is then paid off with equal monthly payments using the standard amortization formula:
M = P × [r(1+r)n] / [(1+r)n − 1]
Example: A $32,000 car with a $4,000 down payment leaves $28,000 financed. At 7.5% APR over 60 months, the payment is roughly $561/month, with about $5,664 in total interest.
Tips for a lower payment
A bigger down payment or trade-in reduces the amount financed. Shorter terms save on total interest but raise the monthly payment; longer terms do the opposite. Compare offers using our general Loan Calculator or see the full payoff breakdown with the Amortization Calculator.