Calculators
Auto Loan Calculator
Enter the vehicle price, down payment, trade-in, sales tax, fees, APR and term to see the monthly payment, total interest and total cost, and compare a second loan side by side.
- Amount financed
- $32,700
- Sales tax
- $2,100
- Cash at signing
- $5,000
- Trade-in equity
- $0
Loan A
Monthly payment
$783.04
48 months at 7% APR
- Total interest
- $4,886
- Total of payments
- $37,586
- Total cost of the car
- $42,586
Loan B
Monthly payment
$565.39
−$217.66 vs A72 months at 7.5% APR
- Total interest
- $8,008+$3,122 vs A
- Total of payments
- $40,708
- Total cost of the car
- $45,708+$3,122 vs A
Amortization schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $9,396.51 | $7,340.03 | $2,056.47 | $25,359.97 |
| 2 | $9,396.51 | $7,870.64 | $1,525.86 | $17,489.33 |
| 3 | $9,396.51 | $8,439.61 | $956.89 | $9,049.71 |
| 4 | $9,396.51 | $9,049.71 | $346.79 | $0.00 |
Loan years count from the first payment (months 1–12 are year 1).
Currency
Payment = L × r × (1 + r)n ÷ ((1 + r)n − 1), with L the amount financed, r = APR ÷ 12 ÷ 100 and n the number of monthly payments (L ÷ n at 0%). Amount financed = price + fees and tax if added to the loan − down payment − (trade-in value − amount owed).
An estimate, not a loan offer: lenders round payments, may charge interest by the day, and dealers can add products such as service contracts or GAP coverage. Fees are treated as untaxed. Check the Truth in Lending disclosure for the amount financed, finance charge, APR and total of payments before you sign.
Calculated on your device — nothing is sent anywhere.
Works in your browser. No account needed.
Frequently asked questions
How is the monthly car payment calculated?
Payment = L × r × (1 + r)^n ÷ ((1 + r)^n − 1), where L is the amount financed, r is the APR divided by 12 and by 100, and n is the number of months. It is the same formula as Excel’s PMT function; Microsoft’s own example, $10,000 at 8% for 10 months, gives $1,037.03, and this calculator gives the same. At 0% APR the payment is simply the amount financed divided by the months.
How are the trade-in and the amount I still owe handled?
Your trade-in equity is its value minus what you owe on it. Positive equity works like extra down payment. If you owe more than the car is worth, the difference (negative equity) is added to the new loan, which raises both the payment and the interest; the result panel shows it.
Is sales tax charged on the price before or after the trade-in?
It depends on your state. Many states tax only the difference between the price and the trade-in value, while others tax the full price, and local rates and fees vary too. Pick the option that matches your state, and use our sales tax calculator at /sales-tax-calculator/ to look up the combined rate. Fees are treated as untaxed.
Is a longer loan term cheaper?
It lowers the monthly payment but usually costs more overall, because you pay interest for more months and longer loans often carry a higher APR. Set loan B to the longer term and its APR to see the extra interest. A long loan also makes it more likely you will owe more than the car is worth for longer.
Why is my dealer’s payment different?
Lenders round the payment to the cent, may count interest by the day, and can include items this calculator leaves out, such as service contracts, GAP coverage or different taxable fees. The rate you qualify for also depends on your credit. Ask for the amount financed, APR, finance charge and total of payments, which US lenders must disclose under the Truth in Lending Act, and enter those.
Is my information sent anywhere?
No. Everything is calculated in your browser, and nothing you type is sent to a server or stored.
About this tool
This auto loan calculator estimates the monthly payment on a new or used car loan from the vehicle price, down payment, trade-in value, what you still owe on the trade-in, sales tax, fees, APR and term. It shows the amount financed, the cash due at signing, the monthly payment, the total interest and the total cost of the car, and it lets you set up a second loan, such as 72 months at a higher APR against 48 months, to compare them side by side.
The payment uses the standard amortization formula, Payment = L × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = APR ÷ 12 ÷ 100, the same formula as Excel’s PMT function; it reproduces Microsoft’s published PMT example of $10,000 at 8% for 10 months, $1,037.03 a month. Each month’s interest is the balance owed × r, and the last payment is trimmed so the balance ends at exactly zero. The schedule for either loan can be downloaded as a CSV file for Excel or Google Sheets.
The amount financed is the price plus fees and sales tax (when you roll them into the loan) minus the down payment and the trade-in equity. Sales tax is the rate × the price, or × the price minus the trade-in value if your state gives a trade-in credit; rules differ by state, and our sales tax calculator at /sales-tax-calculator/ lists state and local rates. Negative equity on a trade-in is added to the loan. Total cost adds the price, tax, fees, interest and any negative equity you pay off.
The results are estimates, not a loan offer. Your actual APR depends on your credit and the lender, and dealers may add products such as extended warranties or GAP coverage. Before you sign, compare the calculator with the Truth in Lending disclosure, which shows the amount financed, finance charge, APR and total of payments. Everything runs in your browser.
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