Money · Loans
Auto Loan Calculator
Estimate your monthly car payment with the costs most calculators leave out: sales tax, dealer fees and your trade-in.
Your result
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How it's calculated
Loan = Price + Sales tax + Fees − Trade-in − Down payment
Payment = Loan × r ÷ (1 − (1 + r)−n) r = APR ÷ 12, n = number of monthly payments. Sales tax = rate × (price − trade-in), or × full price if your state has no trade-in credit.
Payment = Loan × r ÷ (1 − (1 + r)−n) r = APR ÷ 12, n = number of monthly payments. Sales tax = rate × (price − trade-in), or × full price if your state has no trade-in credit.
Worked example
A $32,000 car with $4,000 down, no trade-in, 6.5% APR for 60 months:
- Loan = $32,000 − $4,000 = $28,000
- r = 0.065 ÷ 12 = 0.005417, n = 60
- Payment = $28,000 × 0.005417 ÷ (1 − 1.005417−60) ≈ $547.85/month
- Total interest ≈ $547.85 × 60 − $28,000 = $4,871
Common questions
Is sales tax charged before or after a trade-in?
In most U.S. states it's charged on the price minus your trade-in, which lowers the tax. Some states tax the full price; tick the box above if yours does.
Should I choose a longer loan?
A longer term lowers the monthly payment but usually costs more interest, and you may owe more than the car is worth for longer. Compare the "total interest" line across terms.
What APR should I use?
Use the rate you're quoted. Rates depend on your credit, the lender, the loan term and whether the car is new or used.
For education only. Estimates aren't a loan offer. Actual payments depend on your lender, taxes and fees.