Auto Loan Calculator
This auto loan calculator works out your real monthly car payment, with sales tax, fees, a down payment, and a trade-in all folded in. Enter the vehicle price and your numbers, and you'll see the payment, the amount you're financing, the total interest, and a full amortization schedule. It's built for any car, truck, or used-vehicle loan.
- Sales tax & fees
- Down payment & trade-in
- Total interest
- Cost breakdown
- Amortization
Last updated June 16, 2026 Tax figured on price minus trade-in Reviewed by the Calcowa finance team
Enter a vehicle price, rate, and term above 0.
Sales tax and fees are financed into the loan. Estimates for planning, not a loan offer.
Auto loan amortization schedule
This schedule shows how each year of payments splits between interest and principal, and how the balance falls to zero. Early payments lean toward interest; later ones pay down more of the car. It'll update with your numbers above, so you'll see the balance fall.
| Year | Interest | Principal | Balance |
|---|
How is a car payment calculated?
A car payment starts with the amount you actually finance, not the sticker price. You add sales tax and any dealer fees to the price, then subtract your down payment and trade-in. Whatever's left is the loan, and the payment spreads it across the term with interest. That's why two people buying the same car can end up with very different payments: a bigger down payment, a trade-in, or a shorter term all change the monthly number. You don't have to track all that by hand, since this calculator does the whole chain in one place.
Working out the car payment
Here's the method the calculator runs. It's the same for a $35,000 car with $5,000 down, 7% sales tax, and $500 in fees over 60 months at 7%:
- 1
Add the sales taxTax on the price minus trade-in: 7% of $35,000 is $2,450.
- 2
Find the amount financed$35,000 + $2,450 tax + $500 fees − $5,000 down − $0 trade-in is $32,950.
- 3
Set the rate and termThe monthly rate is 7% ÷ 12, and a 60-month term means 60 payments.
- 4
Apply the formulaM = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1) gives about $652 a month, with roughly $6,193 of interest.
How a trade-in and down payment help
A down payment and a trade-in both cut the amount you finance, but a trade-in often does a little extra. In most states the sales tax is charged on the price after the trade-in is subtracted, so trading in a car lowers both the loan and the tax. A down payment lowers the loan directly. Either way, less financed means a smaller payment and less interest over the term, so it's worth maximizing both. Enter a trade-in value above and you'll watch the amount financed, the tax, and the payment all drop together. To check a tax or down-payment percentage on its own, the percentage calculator helps.
Why a longer term costs more
Stretching a car loan to 72 or 84 months drops the monthly payment, which is tempting, but it quietly raises the total interest and keeps you in debt longer. It also raises the odds of being underwater, owing more than the car's worth, since cars lose value faster than a long loan pays down. A shorter term costs more each month, but you'll pay far less overall. The term buttons above let you compare 36 through 84 months side by side, so you can weigh the monthly payment against the total interest. For a home loan instead, the mortgage calculator shows the same trade, and the plain loan calculator handles any other borrowing.
Frequently asked questions
Is this auto loan calculator free?
Yes, it's free and runs in your browser with no sign-up. The figures are estimates to help you plan a purchase, so a dealer's final numbers may differ a little with exact fees and your approved rate.
Start with the amount you finance: the vehicle price plus sales tax and fees, minus your down payment and any trade-in. Then apply the loan payment formula, M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), using the monthly rate and the number of months. This auto loan calculator rolls the tax and fees in for you, so the monthly figure is the real one you'll pay.
A trade-in works like extra money down: its value comes straight off the amount you finance, which shrinks the loan and the monthly payment. In many states it also lowers the sales tax, since tax is charged on the price after the trade-in is subtracted. Enter your trade-in value above and you'll see both effects at once.
Usually, yes. Most buyers roll the sales tax into the loan rather than paying it up front, so it gets financed along with the car and adds a little interest over time. By default, this calculator adds the tax to the amount financed, so it's already in the payment. In most states the tax is figured on the price minus the trade-in, which is how the tool handles it.
Shorter terms like 36 or 48 months cost less interest and build equity faster, but the monthly payment is higher. Longer terms of 72 or 84 months drop the payment yet pile on interest, and they raise the risk of owing more than the car's worth. A 60-month loan is the common middle ground. Try the term buttons above and you'll see the difference at a glance.
A common guideline is 20% down on a new car and 10% on a used one. A bigger down payment shrinks the loan, lowers the payment, and reduces the chance of going underwater as the car depreciates. Even a few thousand dollars makes a clear dent in the total interest, which you'll see in the result above as you change it.
It does, especially on longer terms. Your credit score is the biggest factor in the rate you're offered, and a few points of difference can add up to a thousand dollars or more over the loan. It's worth getting pre-approved to know your rate before you shop. Change the rate above to see how it moves the total interest.
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