About the Auto Loan Calculator
Work out your monthly car repayment before you visit the dealer. The auto loan calculator accounts for your trade-in, down payment, sales tax and on-road fees, then shows the amount financed, the monthly payment and the total cost of the car.
How to use it
- Enter the vehicle price.
- Add your trade-in value and down payment.
- Add sales tax and any dealer or registration fees.
- Enter the interest rate and loan term in months.
Formula & method
Amount financed = Price + Tax + Fees − Trade-in − Down payment
Payment = A × r ÷ (1 − (1 + r)^−n)Frequently asked questions
Is a longer car loan a good idea?
Longer terms lower the monthly payment but increase total interest, and you may owe more than the car is worth for longer.
Is sales tax applied before the trade-in?
Rules vary by state and country. This calculator applies tax to the vehicle price; adjust the tax rate if your location taxes the price after trade-in.
Results are estimates for general information only and are not financial, tax, legal or medical advice. Please confirm important decisions with a qualified professional.