How to use the Auto Loan Calculator
Fill in the fields above and the result appears straight away. Everything runs in your browser, so nothing you type is uploaded.
The formula
Financed amount = price × (1 + tax) − down payment − trade-in; payment from the standard loan formula.
Examples
- $32,000 car, $3,000 down, 6% tax, 7% for 60 months
Monthly payment: $612.25 Amount financed: $30,920.00 (includes $1,920.00 sales tax) Total interest: $5,815.18 Total cost of the car: $39,735.18
- Same car with a $5,000 trade-in
Monthly payment: $513.25 Amount financed: $25,920.00 (includes $1,920.00 sales tax) Total interest: $4,874.82 Total cost of the car: $38,794.82
- Same car over 72 months
Monthly payment: $527.16 Amount financed: $30,920.00 (includes $1,920.00 sales tax) Total interest: $7,035.18 Total cost of the car: $40,955.18
Limitations and assumptions
Fixed-rate, fully amortizing loan with monthly payments. Lender fees, insurance and taxes are not included unless stated. Your lender's official disclosure takes precedence. Sales tax rules differ by state, and some states tax only the amount after trade-in.
Frequently asked questions
How do I calculate a car payment?
Take the price plus sales tax, subtract the down payment and trade-in, then apply the standard loan formula at the monthly rate over the number of months.
Is a longer loan a good idea?
It lowers the payment but increases interest and raises the chance of owing more than the car is worth.
Does a trade-in reduce sales tax?
In many states yes, but rules vary. This estimate applies tax to the price before deductions, so check locally.
Are fees and insurance included?
No. Registration, documentation fees and insurance are extra.