Auto Loan Calculator
Estimate a monthly car payment, amount financed, total interest, payoff date, and amortization schedule with vehicle price, down payment, trade-in, sales tax, fees, and term in months.
Auto Loan Calculator
This auto loan calculator is for educational estimates only. Taxes, fees, rates, trade-in values, incentives, and lender terms vary by location, dealer, and borrower profile.
How it works
Formula and steps
The formula shows how the auto loan calculator turns your inputs into the result. Use it to check the calculation, then follow the example steps to see each part of the math.
Formula & steps
Amount financed formula
P = V + T + F - D - I
Use this to estimate the financed vehicle amount before calculating the car payment.
P= Amount financedV= Vehicle priceT= Sales tax amountF= FeesD= Down paymentI= Trade-in valueMonthly car payment formula
Use this fixed-rate formula after finding the amount financed.
M= Monthly car paymentP= Amount financed after tax, fees, down payment, and trade-inr= Monthly interest rate as a decimaln= Total number of monthly payments- 1Enter the vehicle price, down payment, trade-in value, sales tax, fees, annual interest rate, and term in months.
- 2Calculate sales tax from the vehicle price and sales tax percentage.
- 3Add tax and fees to the vehicle price, then subtract the down payment and trade-in value to find the amount financed.
- 4Use the fixed-rate loan formula to calculate the monthly car payment.
- 5Build the amortization schedule by applying interest first, then principal, with any extra monthly payment applied to principal.
Worked examples
A $35,000 car with 10% down and a 60-month loan at 7.5% has an estimated payment based on the amount financed. Add your local sales tax, fees, or trade-in if they apply.
Changing the down payment from a dollar amount to a percent lets you compare cash down scenarios quickly.
Common uses
- Auto loan calculator
- Car loan calculator
- Car payment calculator
- Auto loan payment calculator
- Car loan payment calculator
- Car finance calculator
Common mistakes
- Comparing only the monthly payment without checking total interest and total amount paid.
- Forgetting to include sales tax, dealer documentation fees, title fees, registration, or other financeable costs.
- Treating a calculator estimate as a lender quote when final APR can depend on credit, lender rules, vehicle age, loan-to-value, and promotions.
Auto loan guide
How car payments are calculated
An auto loan payment starts with the amount financed. This calculator estimates that amount from the vehicle price, sales tax, fees, down payment, and trade-in value, then applies the fixed-rate loan payment formula.
It can be used as an auto loan calculator, car loan calculator, car payment calculator, auto loan payment calculator, car loan payment calculator, or car finance calculator. The goal is the same: estimate payment and total loan cost before relying on a dealer or lender quote.
Amount financed
Amount financed is the estimated loan principal. The calculator adds vehicle price, sales tax, and fees, then subtracts the down payment and trade-in value. A higher amount financed usually means a higher monthly payment and more total interest.
Sales tax and fees
There is no single standard US sales tax rate for every state. Rates and vehicle fees vary by state, county, city, dealer, and transaction type. Leave tax or fees at 0 if you only want a loan estimate from the sale price, or enter local estimates when you want the payment to reflect more than the sticker price.
Down payment and trade-in
A down payment lowers the amount borrowed. You can enter it as a dollar amount or as a percent of the vehicle price. Trade-in value is treated as another credit that reduces the amount financed, though real trade-in equity can change if there is an existing loan payoff.
Why quoted rates may differ
The calculator uses the interest rate you enter. A real APR quote can differ because of credit profile, lender program, vehicle age, loan term, loan-to-value ratio, dealer incentives, add-ons, and whether taxes or fees are financed into the loan.
FAQ
It estimates amount financed, monthly car payment, total interest, total paid, payoff date, and amortization schedule from the vehicle price, down payment, trade-in, sales tax, fees, rate, and term.
This calculator adds vehicle price, estimated sales tax, and fees, then subtracts the down payment and trade-in value. The result is the estimated amount financed.
Yes. Choose Percent for the down payment field and the calculator converts that percentage of the vehicle price into a dollar down payment.
No. The payment estimate covers the financed auto loan only. Insurance, fuel, maintenance, parking, and other ownership costs are not included.
Actual APR can depend on credit profile, lender, loan term, vehicle age, loan-to-value, dealer incentives, and whether taxes or fees are financed.
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