Auto Loan Calculator
Enter the car price, down payment, trade-in, APR, term, sales tax and fees to see the monthly payment, the amount financed, the total interest and everything you will pay for the car.
Last updated November 4, 2026
Result
Monthly payment = $495.02
| Measure | Value |
|---|---|
| Monthly payment | $495.02 |
| Amount financed | $25,300.00 |
| Total interest | $4,401.41 |
| Total cost (all you pay) | $36,701.41 |
Sales tax is charged on the car price (no trade-in tax credit), and tax and fees are financed. Rules differ by state; check your dealer quote.
Show the work
Formula: financed = price + tax + fees − down − trade-in; payment = P × r ÷ (1 − (1 + r)^−n).
- Sales tax: $30,000.00 × 6% = $1,800.00.
- Amount financed: $30,000.00 + $1,800.00 + $500.00 − $5,000.00 − $2,000.00 = $25,300.00.
- Monthly rate r = 6.5% ÷ 12 = 0.5417%; n = 60. Payment = $25,300.00 × 0.005417 ÷ (1 − (1 + 0.005417)^−60) = $495.02.
- Total of payments: $495.02 × 60 = $29,701.41; total interest = $29,701.41 − $25,300.00 = $4,401.41.
- Total cost: $5,000.00 + $2,000.00 + $29,701.41 = $36,701.41.
Result: Monthly payment = $495.02
How an auto loan is calculated
financed = price + tax + fees − down − trade-in
payment = P × r ÷ (1 − (1 + r)^−n)
Sales tax is the price times the tax rate, and this calculator charges it on the full price. Tax and fees are added to the loan, then your down payment and trade-in value are subtracted to get the amount financed (P).
In the payment formula r is the APR divided by 12 and n is the number of monthly payments. At 0% APR the payment is P divided by n. Total interest is the payment times n minus P, and total cost adds your down payment and trade-in value to all the payments.
See how we calculate for the formulas, sources and review schedule behind every calculator.
What this estimate assumes
Trade-in tax credits, local taxes and the fees a dealer charges differ by state and by dealer, so check them against your quote. The result also assumes a fixed rate and equal monthly payments with no extra payments.
General information, not financial advice
This calculator gives a general estimate from the numbers you enter. It is not financial or tax advice, and your actual results can differ. Check important decisions with a qualified professional or the official source.
Sources
Official and primary sources for the statements on this page. Their authors have not reviewed or endorsed this page.
- Consumer Financial Protection Bureau, What is amortization and how could it affect my auto loan?. Explains that in an amortizing loan each payment is split between principal and interest, with more going to interest early in the term. The page is filed under auto loans but describes amortizing loans in general.
How to use the Auto Loan Calculator
- Enter the car price, your down payment and the trade-in value.
- Enter the APR and the loan term in months or years.
- Add the sales tax percentage and any fees.
- Read the payment, amount financed, interest and total cost, then Copy, Print or Share.
Worked example
A $30,000 car with $5,000 down, a $2,000 trade-in, 6% sales tax ($1,800) and $500 of fees finances $30,000 + $1,800 + $500 − $7,000 = $25,300. At 6.5% APR the table shows the payment by term.
| Term | Monthly payment | Total interest | Total cost |
|---|---|---|---|
| 36 months | $775.42 | $2,615.11 | $34,915.11 |
| 48 months | $599.99 | $3,499.44 | $35,799.44 |
| 60 months | $495.02 | $4,401.41 | $36,701.41 |
| 72 months | $425.29 | $5,320.97 | $37,620.97 |
| 84 months | $375.69 | $6,258.02 | $38,558.02 |
Frequently asked questions
Does a bigger down payment lower the interest I pay?
Yes. It reduces the amount financed, so you pay interest on less money for the whole term and your monthly payment is lower as well.
Why is a longer car loan more expensive overall?
The monthly payment drops, but the balance stays outstanding longer, so more interest builds up. The example table shows $6,258.02 of interest at 84 months against $2,615.11 at 36.
How is a trade-in handled here?
Its value is subtracted from the amount financed, just like cash down. Sales tax is still charged on the full price, so check whether your state gives a trade-in tax credit.
Can I calculate a loan with 0% APR?
Yes. Enter 0 and the payment is simply the amount financed divided by the number of months, with no interest.