Auto Loan Calculator
United States – Vehicle finance
Monthly car payment calculator
Estimate your monthly car loan payment from the vehicle price, down payment, trade-in, sales tax, term, and APR — and see how much interest you pay over the loan.
Enter auto loan details
Monthly payment
$673.28
Over 60 months
Amount financed
$33,600
Includes $2,100 sales tax
Total interest paid
$6,797
Over the life of the loan
What this means
Financing $33,600 at 7.5% APR over 60 months gives a monthly payment of $673.28, with $6,797 paid in interest over the term.
- A larger down payment or trade-in lowers the amount financed and the interest you pay.
- A longer term lowers the monthly payment but raises total interest — and risks owing more than the car is worth.
- APR includes most lender fees; a dealer’s promotional rate may differ from your bank or credit union’s offer.
How the amount financed is worked out
Your car loan isn’t just the sticker price. The amount you actually finance is the vehicle price plus sales tax, minus your down payment and any trade-in credit. Because most states charge sales tax on the price after the trade-in, a trade-in lowers both the loan and the tax. The calculator handles all of this, then applies your APR and term to produce the monthly payment.
Why the loan term matters so much
Stretching a loan to 72 or 84 months makes the monthly payment look affordable, but it has two hidden costs. First, you pay far more total interest. Second, cars depreciate quickly — with a long term you can spend years “upside down,” owing more than the car is worth, which is a problem if it’s totaled or you want to sell. A larger down payment and a shorter term are the two most effective ways to cut both the interest and that risk. Try 48, 60, and 72 months above to see the trade-off.
Example
On a $35,000 vehicle with $3,500 down, no trade-in, and 6% sales tax, you’d finance about $33,600. At 7.5% APR over 60 months that is roughly a $673 monthly payment and about $6,800 in total interest. Add a $5,000 trade-in and both the loan and the tax drop, lowering the payment. Enter your own numbers above to model your purchase.
Limitations & disclaimer
Results are estimates using a fixed APR and standard amortization. They exclude registration, documentation, and dealer fees, gap insurance, and extended warranties, and they assume your state taxes the price after trade-in. Actual offers depend on your credit and lender. This is not a loan offer or financial advice — confirm figures with your lender.
FAQs
How is my car loan payment calculated?
The calculator first works out the amount you finance — vehicle price plus sales tax, minus your down payment and any trade-in credit. It then applies the standard amortization formula using your APR and loan term to produce a fixed monthly payment.
Does a trade-in reduce my sales tax?
In most US states, yes — sales tax is charged on the price after the trade-in credit, which can save you a meaningful amount. A few states tax the full price regardless. This calculator applies tax to the price after trade-in; check your state’s rule if you are unsure.
Is a longer loan term a good idea?
A longer term (72 or 84 months) lowers your monthly payment but increases the total interest you pay, and it raises the risk of being "upside down" — owing more than the car is worth — because cars depreciate faster than the loan is paid down. A shorter term costs more per month but far less overall.
What APR should I expect?
Auto loan APRs depend heavily on your credit score, the loan term, and whether the car is new or used. Buyers with strong credit typically see the lowest rates, while used-car and longer-term loans carry higher rates. Getting pre-approved by a bank or credit union gives you a benchmark to compare against dealer financing.
Does this include registration and dealer fees?
No. The calculator covers price, sales tax, down payment, and trade-in. Registration, documentation, and dealer fees vary widely — add them to the vehicle price if you want them financed, or budget for them separately as out-of-pocket costs.