Loan Calculator
Estimate fixed-rate installment loan payments, total interest, payoff time, and extra payment savings.
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Auto Loan Calculator
Estimate a car loan payment with vehicle price, down payment, trade-in value, sales tax, fees, APR, and term.
Vehicle and loan details
Taxes and fees
Payments over time
Monthly principal, interest, and loan balanceAmortization schedule
First 5 payments| Month | Interest | Principal | Ending balance |
|---|
Interpret your auto loan estimate
The monthly payment is the fixed payment needed to repay the financed vehicle balance over the selected term. The total loan cost shows payments over the life of the loan, including interest.
Inputs that matter most
- APR: sets the cost of borrowing and can move the monthly payment quickly.
- Loan term: longer terms lower monthly payment but usually increase total interest.
- Trade equity: positive equity reduces the balance; negative equity increases it.
- Taxes and fees: can make the financed amount higher than the vehicle price.
Common mistakes
- Comparing only monthly payment instead of total interest.
- Forgetting dealer, title, and registration fees.
- Treating a trade-in as a full discount when money is still owed.
- Using a long term without checking whether the car may depreciate faster than the loan balance.
When this estimate can be misleading
This estimate does not include lender-specific fees, optional warranties, gap insurance, variable-rate loans, prepayment penalties, or local rules that tax trade-ins and rebates differently.
Scenarios to try
- Compare 60- and 72-month terms at the same APR.
- Increase APR by 1% to test a weaker financing offer.
- Add negative trade equity before deciding whether the deal works.
- Try a larger down payment to reduce total interest.
Next-step utilities
How to use this auto loan calculator
Estimate a car payment from vehicle price, cash down, trade-in equity, taxes, fees, APR, and loan term.
- Choose whether to calculate from vehicle price or a target monthly payment.
- Enter the vehicle price or target payment before taxes and fees.
- Add your down payment, then choose whether you have a trade-in.
- If you have a trade-in, enter its value and any amount still owed on it.
- Enter the APR, term, sales tax, title fees, dealer fees, rebate, and whether taxes and fees are financed.
- Review the estimated payment, amount financed, total interest, total loan cost, and amortization schedule.
Auto Loan Calculator features
- Estimate monthly auto loan payments from vehicle price, APR, and loan term.
- Calculate from a target monthly payment to back into an affordable vehicle price.
- Include cash down payment in the amount financed.
- Include trade-in value and amount owed on the trade-in.
- Account for rebates, sales tax, title fees, and dealer fees.
- Choose whether taxes and fees are financed or paid upfront.
- Review amount financed, monthly payment, total interest, and total loan cost.
- Preview an amortization schedule for the auto loan.
- Compare total cash due at signing against financed costs.
What is included in an auto loan payment?
A car payment usually repays the financed vehicle balance with interest. The financed balance can include more than the sticker price.
This calculator adds estimated sales tax, registration costs, dealer fees, and any negative trade equity before subtracting down payment, positive trade equity, and rebates.
Insurance, fuel, maintenance, parking, and repairs are not included in the loan payment. Add those separately when checking whether the car fits your monthly budget.
Auto loan payment formula
The calculator estimates the financed balance, then applies the standard fixed-rate amortization formula.
L = P + T + F - D - R - E
P is vehicle price, T is financed sales tax, F is financed fees, D is down payment, R is rebate, and E is trade equity.
M = L \cdot \frac{r(1+r)^n}{(1+r)^n - 1}
L is amount financed, r is monthly interest rate, and n is number of monthly payments.
Auto loan calculator FAQ
Does this include sales tax?
Yes. Sales tax is estimated from the vehicle price, then adjusted for rebates and for trade-in value when the trade-in tax credit setting is set to Yes. Some states tax the full vehicle price before trade-in, so use your lender, DMV, or state tax guidance for a final number.
How does a trade-in affect the loan?
Positive trade equity lowers the amount financed. If you owe more than the trade is worth, the negative equity increases the amount financed.
Why does a longer auto loan cost more?
A longer term spreads repayment over more months. That can lower the payment, but interest has more time to accrue.
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