Debt & Loans
Auto Loan Calculator
Add the vehicle price, down payment, trade-in, and loan terms to see your monthly payment and the full cost of financing.
How the auto loan payment is calculated
The amount financed is the vehicle price minus your down payment and trade-in, plus estimated sales tax. The monthly payment uses the standard amortization formula with the APR and the number of months.
Total cost adds your down payment, all monthly payments, and the trade-in value you gave up. It does not include dealer fees, registration, or add-ons.
P is the amount financed, r is the monthly APR, andn is the number of months.
Frequently asked questions
Does a trade-in reduce sales tax?
In many states, yes: the trade-in value is subtracted before sales tax is calculated. Rules vary by state, so this calculator estimates tax on the price after trade-in.
Should I choose a longer loan term?
A longer term lowers the monthly payment but usually increases the total interest and can leave you owing more than the car is worth for longer. Compare the total cost, not just the payment.
What is not included?
This calculator does not include dealer fees, registration, extended warranties, or gap insurance. Add those costs to the vehicle price or down payment for a closer estimate.
This calculator is for educational purposes only and does not constitute financial advice. Results are estimates and may not reflect your exact situation.