Car loan calculator with trade-in
The calculator already has a $35,000 car with a $12,000 trade-in and $4,000 owed on it filled in. Change the values to match your trade-in.
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
—
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 do you calculate a car loan with a trade-in?
Subtract the trade-in credit and add what you still owe on it, then finance the rest. On a $35,000 car with a $12,000 trade-in, $4,000 owed, and $2,000 down, you finance $26,380 with 6% tax added.
What is negative equity?
It means you owe more on the trade-in than the dealer credits you for it. If you owe $16,000 on a $12,000 trade-in, the $4,000 difference is added to the new loan.
How a trade-in works in a car loan
The dealer credits you for your old car, and you pay off what you still owe on it. If the credit is larger than the payoff, the difference is equity, and it lowers the amount you finance like a down payment. If the payoff is larger, the difference is negative equity, and it is added to the new loan.
Three trade-ins on the same $35,000 car
| You owe on the trade-in | Equity | Amount financed | Payment at 7% for 60 months | Total interest |
|---|---|---|---|---|
| $4,000 | $8,000 | $26,380 | $522.36 | $4,961.29 |
| $12,000 | $0 | $34,380 | $680.77 | $6,465.87 |
| $16,000 | −$4,000 | $38,380 | $759.97 | $7,218.16 |
All three use a $12,000 trade-in credit, $2,000 down, 6% sales tax added to the loan, and a 7% APR over 60 months. Owing $16,000 instead of $4,000 raises the payment by $237.61 a month and the interest by $2,256.87.
Does a trade-in lower the sales tax?
In some states the trade-in credit comes off the price before tax, and in others it does not. In the first scenario, taxing the full price instead of the price minus the trade-in would raise the tax from $1,380 to $2,100 and the payment to $536.61. Use the switch in the calculator to match your state’s rule.
Before you roll negative equity into a new loan
Rolling $4,000 of negative equity into the new loan means you pay interest on a car you no longer own. Paying some of it in cash as part of your down payment keeps the new loan smaller.
These are estimates with example rates, not offers. Your APR depends on your credit, the lender, and the vehicle, so replace it with the rate on your own offer in the auto loan calculator.
Updated on October 8, 2026