Auto Loan Calculator
Calculate your monthly car payment including taxes, fees, trade-in and down payment.
This auto loan calculator estimates the monthly payment on a car loan, along with the total interest and the total cost of the vehicle. It factors in your down payment, a trade-in, sales tax on the purchase and any dealer or documentation fees, so the number reflects what you will actually pay each month.
Sales tax is applied to the price after any trade-in credit, then added to the amount financed together with fees, minus your down payment and trade-in. The monthly payment uses the standard amortization formula, so a lower APR or a shorter term reduces the interest you pay over the life of the loan.
How to use it
- 1Enter the vehicle price and choose your currency.
- 2Add your down payment, any trade-in value and the sales tax rate.
- 3Set the loan term in months, the APR and any dealer fees.
- 4Read your monthly payment, loan amount, sales tax and total cost.
Frequently asked questions
Is sales tax charged on the trade-in?+
No. In most states the trade-in value is deducted from the price before sales tax is calculated, so you only pay tax on the difference. This calculator applies tax to the price minus the trade-in.
Does the down payment reduce interest?+
Yes. A larger down payment lowers the amount you finance, which reduces both the monthly payment and the total interest paid over the term of the loan.
What does the total cost include?+
Total cost is the sum of every monthly payment plus your down payment and trade-in value — in other words, everything you put toward the car including financed sales tax and fees.
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