Auto loan calculator
Enter the price, your APR, and the loan term to see your monthly payment, total interest, and every payment in the schedule. Add a down payment, a trade-in, sales tax, and fees to get the number on the contract.
Enter the vehicle price and the APR to see your monthly payment.
How the loan amount is built
| Item | Amount |
|---|
Compare loan terms
| Term | Payment | Total interest |
|---|
Same amount and same APR for every term. A longer term lowers the payment but costs more in interest. Lenders often charge a higher APR for longer terms, so use the rate each offer quotes.
Amortization schedule
| No. | Payment | Principal | Interest | Balance |
|---|
How it’s calculated
- Loan amount
price + sales tax + fees − down payment − trade-in equity- Payment
payment = loan × r ÷ (1 − (1 + r)^−n), with r = APR ÷ 12 and n = months- With your numbers
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An estimate, not a loan offer
This assumes a simple-interest loan with equal monthly payments, the first one a month after you sign. Your lender’s numbers can differ by a few cents or more, and they decide the APR, the fees, and how your state taxes the sale. It is not financial or tax advice.For the steps of getting an auto loan and what is negotiable, see the Consumer Financial Protection Bureau, Auto loans guide (link verified on October 8, 2026; no figures are taken from it).
How to use it
- Enter the vehicle price, the APR from your offer, and choose the loan term.
- Add your down payment in dollars or as a percent of the price.
- If you trade in a car, enter its value and what you still owe on it.
- Enter your sales tax rate and fees, and turn the switches to match how your state taxes the sale.
- Read the monthly payment, total interest, term comparison, and amortization schedule. Download the schedule as a CSV.
Frequently asked questions
How is a car payment calculated?
The payment is the loan amount times the monthly rate, divided by 1 minus (1 + monthly rate) raised to the power of minus the number of months. The monthly rate is the APR divided by 12. A $30,000 loan at 6% APR for 60 months comes to $579.98 a month.
Does the calculator include sales tax?
Yes. Enter your tax rate and it is charged on the price, and optionally on the fees. By default the tax is added to the loan; turn that switch off to pay it at signing. Each state taxes a trade-in and fees differently, and some cities and counties add their own tax, so use the total rate on your dealer’s paperwork.
How does a trade-in change the loan?
The trade-in credit lowers the amount you finance. If you owe less than the car is worth, the difference works like a down payment. If you owe more, that negative equity is added to the new loan and you pay interest on it. In some states the trade-in also lowers the taxable amount, which the calculator lets you switch on or off.
Is a longer loan term a good idea?
A longer term gives a smaller payment but costs more in total interest, and you stay in debt longer. The term comparison table shows the same loan over 36 to 84 months so you can see the trade-off. A longer loan also raises the chance of owing more than the car is worth.
What APR should I enter?
Use the APR on the offer from your bank, credit union, or dealer. This calculator does not show today’s rates, because they depend on your credit, the lender, the vehicle, and the term. Try a few rates to see how much they matter.
Is the result exact?
It is an estimate. The calculator assumes a simple-interest loan with equal monthly payments and the first payment a month after signing. Your lender’s contract decides the final payment, fees, and how interest accrues.
How an auto loan payment works
An auto loan is paid back in equal monthly installments. Each payment covers that month’s interest, which is the remaining balance times the APR divided by 12, and the rest goes to the principal. Early payments are mostly interest; later ones are mostly principal. The amortization table shows the split for every payment.
- Loan amount: price + sales tax + fees − down payment − trade-in equity.
- Monthly rate: APR ÷ 12.
- Payment: loan × rate ÷ (1 − (1 + rate)^−months).
A worked example
Say you buy a $32,000 car with $3,000 down, a 6.5% APR, and a 60-month loan, in a state with 6% sales tax and $600 of fees that you add to the loan. The tax is $1,920, so you finance 32,000 + 1,920 + 600 − 3,000 = $31,520. At 6.5% over 60 months, the payment is about $616.72, and you pay about $5,484 in interest over the life of the loan.
Sales tax, fees, and your trade-in
Sales tax is usually charged on the price, but states differ on whether the value of your trade-in comes off the taxable amount and whether fees are taxed. Some cities and counties add their own tax on top of the state’s. Use the total rate and the rules shown in your dealer’s paperwork, and turn the switches in the calculator to match. If you owe more on your trade-in than it is worth, the difference is added to the new loan.
Choosing a term
A longer term lowers the monthly payment but raises the total interest, and the car loses value faster than a long loan is paid down. The comparison table shows how the payment and interest change from 36 to 84 months for your loan. Compare offers by APR and by total cost, not only by the monthly payment.
Related calculators
To find your state’s sales tax rate before you fill in the tax field, use the sales tax calculator. To compare a car payment with a home loan, try the mortgage calculator, and to see how another kind of loan works, the loan calculator. To work out a discount or a percentage of a price, use the percentage calculator.
Updated on October 8, 2026