Auto Loan Calculator
Free auto loan calculator. Estimate your monthly car payment from the vehicle price, down payment, trade-in value, sales tax, interest rate, and loan term.
What goes into a car payment
Your auto loan is based on the vehicle price plus sales tax, minus your down payment and any trade-in. In most states the trade-in lowers the taxable amount, which is why this calculator subtracts it before applying sales tax. The result is financed over your chosen term at the interest rate (APR) you qualify for.
Tips before you sign
- A larger down payment lowers both the payment and total interest.
- Shorter terms cost far less interest — a 48-month loan beats a 72-month one.
- Get pre-approved for a rate so you can negotiate the car price separately from financing.
Frequently asked questions
How is a car payment calculated?⌄
It's based on the loan amount (vehicle price plus sales tax, minus your down payment and trade-in), spread over the loan term at your interest rate using standard amortization.
Does a trade-in reduce sales tax?⌄
In most US states, yes — the trade-in lowers the taxable amount, so you only pay sales tax on the price difference. This calculator assumes that.
What's a good auto loan term?⌄
Shorter is cheaper. A 48- or 60-month loan costs far less interest than 72 or 84 months, even though the longer term has a smaller monthly payment.
Have another question? Get in touch.