Auto Loan Calculator
Work out a realistic car payment. Enter the price, your down payment and trade-in, the sales tax rate, and loan terms to see the monthly payment and total interest.
Example: with Vehicle price $35,000 · Down payment $5,000 → Monthly payment: $635.62.
- Amount financed$32,100
- Sales tax charged$2,100
- Upfront payment$5,000
Computed by the calculator below using its default values. Change any input to see your own numbers.
Principal vs. interest
How you compare
Your monthly payment vs. the new-car average
Your rate vs. the market
Yearly payment schedule
Interest vs. principal for each year of the loan.
🚙 Compare auto loan & refinance rates
Check it outTrade-ins and sales tax
In most states you only pay sales tax on the price after your trade-in is deducted, which can save real money. Your down payment and trade-in both reduce the amount financed. Longer terms shrink the monthly payment but you'll pay more interest and risk owing more than the car is worth.
How it’s calculated
Amount financed = price + sales tax − down − trade-in (tax is usually on price minus trade-in). Payment = loan × r ÷ (1 − (1 + r)^−n).
Results update as you type and are estimates, not professional advice — verify important decisions with a qualified professional.
Payoff schedule by year
Common mistakes
- Forgetting sales tax, title, and fees.
- Stretching the term to lower the payment but pay more interest.
Frequently asked questions
Is sales tax applied before or after trade-in?
Most states tax the price minus the trade-in value, which is how this calculator works. A few tax the full price — set trade-in to 0 to model that.
What term should I pick?
Shorter is cheaper overall. Terms beyond 60 months lower the payment but pile on interest and depreciation risk.
Are taxes and fees exact?
This covers sales tax. Title, registration, and dealer fees vary by state and aren't included.
Is a 72-month car loan a bad idea?
It lowers the payment but raises total interest and keeps you underwater (owing more than the car's value) longer. Average rates also run slightly higher on 72-month loans (7.55% vs 7.52% for 60-month, Fed G.19, Q1 2026). If you need 72+ months to afford it, consider a cheaper car.
Should I roll sales tax and fees into the loan?
You can, and this calculator does — but you're then paying interest on the tax. Paying tax, title, and fees in cash keeps the loan closer to the car's actual value.