Estimate your monthly car payment, total interest, total loan cost, and amount financed after price, down payment, trade-in value, and sales tax. This free auto loan calculator helps you compare car financing scenarios.
Enter your vehicle and loan details and click Calculate to estimate your auto loan payment.
This auto loan calculator estimates your monthly car payment based on vehicle price, down payment, trade-in value, sales tax, fees, interest rate, and loan term.
It first calculates the amount financed, then uses the standard amortizing loan payment formula to estimate monthly payment, total interest, and total loan cost. If you add an extra monthly payment, it also estimates how much faster the loan could be paid off.
The amount financed is estimated with:
Amount Financed = Vehicle Price + Sales Tax + Fees - Down Payment - Trade-In
Monthly payment is then calculated using the standard amortizing loan formula:
M = P × [r(1 + r)n] / [(1 + r)n - 1]
Where:
A larger down payment reduces the amount financed, which can lower your monthly payment and total interest paid.
Longer loan terms can reduce the monthly payment, but they often increase the total interest paid over time.
Dealer fees, registration, warranties, and other extras can affect the real amount financed if they are rolled into the loan.
Even small extra monthly payments may shorten your payoff timeline and lower total interest cost.
Many buyers aim for a down payment large enough to reduce the amount financed and avoid being upside down on the loan, but the right amount depends on your budget and trade-in value.
A shorter term usually means a higher monthly payment but lower total interest. A longer term lowers monthly cost but can increase the total paid overall.
No. This auto loan calculator estimates principal and interest financing only. Insurance, fuel, maintenance, and other ownership costs are not included.
Yes. A trade-in can reduce the amount you need to finance, which may lower your monthly payment and total interest cost.