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Auto Loan Calculator (Car Payment Calculator)
Car payment with trade-in, down payment, sales tax and fees, plus total interest and a payoff schedule.
Calculated in your browser – nothing you enter is sent or stored.
Use this auto loan calculator to see your monthly car payment before you visit the dealer. It includes the parts that are easy to forget – sales tax, title and registration fees, your trade-in and any money you still owe on it – and shows the amount financed, the total interest and how the payment changes between 36 and 84 months.
How to Use the Car Payment Calculator
- Vehicle price: the negotiated price before tax, not the sticker price if you got a discount.
- Down payment and trade-in: cash you put down and what the dealer gives you for your old car. If you still owe on it, enter the payoff amount too.
- Interest rate (APR) and term: use a pre-approval from your bank or credit union if you have one.
- Sales tax and fees: enter your combined state and local rate and the dealer's doc, title and registration fees. Tick the box if you are rolling them into the loan.
How the Payment Is Calculated
First the calculator works out the amount financed:
Amount financed = price − down payment − trade-in + amount owed on trade-in + sales tax + fees (tax and fees only if financed)
Then it applies the standard loan formula, M = P × r ÷ [1 − (1 + r)−n], where r is the APR divided by 12 and n the number of months.
Example: a $35,000 car with $5,000 down, 6% sales tax ($2,100) and $1,200 of fees rolled in means financing $33,300. At 7% APR for 60 months the payment is $659.38 a month and you pay $6,263 in interest.
How Loan Length Changes What You Pay
Stretching a loan lowers the monthly payment but raises the total cost – and longer loans usually carry higher rates too. For $33,300 at 7%:
| Term | Monthly payment | Total interest |
|---|---|---|
| 36 months | $1,028.21 | $3,715 |
| 48 months | $797.41 | $4,976 |
| 60 months | $659.38 | $6,263 |
| 72 months | $567.73 | $7,577 |
| 84 months | $502.59 | $8,917 |
Cars lose value quickly – often 20% or more in the first year. With a long loan and a small down payment, you can owe more than the car is worth ("upside down") for years, which is a problem if it is totaled or you want to trade it in.
Sales Tax and Your Trade-In
In most states you pay sales tax only on the difference between the new car's price and your trade-in, which can save hundreds of dollars. A few states, including California, Michigan, Hawaii, Virginia and Montana (which has no sales tax), handle trade-ins differently. Untick Trade-in reduces the taxable price if your state taxes the full price. Rates also vary by county and city, so check your state DMV or department of revenue for the exact figure.
Tips for a Lower Car Payment
- Get pre-approved. A rate from a credit union gives you a number to beat at the dealership.
- Follow the 20/4/10 rule. Put 20% down, finance for no more than 4 years and keep all car costs under 10% of your gross income.
- Negotiate the price, not the payment. A dealer can hit any monthly payment by stretching the term.
- Watch add-ons. Extended warranties, GAP insurance and paint protection rolled into the loan also collect interest.
- Improve your credit first. The gap between excellent and fair credit can be several percentage points of APR.
Your exact payment depends on the lender's APR, how it rounds and when the first payment is due. The figure from this calculator should be within a few dollars of the retail installment contract you sign.
Sources
- CFPB – Auto loans: what to know before you buy
- FTC – Buying a new car
- Federal Reserve – Consumer credit (G.19), new car loan rates
Last reviewed: October 2026 by the ShrinkBee team. Results are estimates for planning and education, not financial, tax, legal or medical advice.
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