Car Loan Calculator
Calculate your exact monthly car payment. Include down payment, trade-in value, sales tax, and fees. See total interest and an amortization table.
Where your money goes
| Category | Total car cost: down payment, principal, interest, tax and fees |
|---|---|
| Down + trade-in | $5,000.00 |
| Loan principal | $30,000.00 |
| Interest | $5,219.00 |
| Tax + fees | $0.00 |
Financing $30,000.00 at 6.5% over 60 months costs $586.98/month and $5,219.07 in interest.
Total out-the-door cost including your down payment, trade-in, tax and fees is $40,219.07.
Amortization schedule (first 12 months)
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $586.98 | $424.48 | $162.50 | $29,575.52 |
| 2 | $586.98 | $426.78 | $160.20 | $29,148.73 |
| 3 | $586.98 | $429.10 | $157.89 | $28,719.64 |
| 4 | $586.98 | $431.42 | $155.56 | $28,288.22 |
| 5 | $586.98 | $433.76 | $153.23 | $27,854.46 |
| 6 | $586.98 | $436.11 | $150.88 | $27,418.35 |
| 7 | $586.98 | $438.47 | $148.52 | $26,979.89 |
| 8 | $586.98 | $440.84 | $146.14 | $26,539.04 |
| 9 | $586.98 | $443.23 | $143.75 | $26,095.81 |
| 10 | $586.98 | $445.63 | $141.35 | $25,650.18 |
| 11 | $586.98 | $448.05 | $138.94 | $25,202.13 |
| 12 | $586.98 | $450.47 | $136.51 | $24,751.66 |
| ⋮ 48 more months ⋮ | ||||
| Total | $35,219.07 | $30,000.00 | $5,219.07 | $0.00 |
How to use Car Loan Calculator
This car loan calculator estimates your monthly auto payment and the true cost of financing a vehicle. Factor in the price, down payment, trade-in value, sales tax and loan term to get an accurate payment, then see how much of the total goes to interest. Comparing a shorter term or a larger down payment here can save you hundreds or thousands over the life of the loan.
- Enter the vehicle price.
- Add your down payment and any trade-in value.
- Include the sales tax rate if you want tax financed in.
- Set the interest rate (APR) and loan term.
- Review the monthly payment, total interest and amount financed.
Your data never leaves your device — 100% private processing.
What goes into a car payment
The amount financed is the price plus sales tax and fees, minus your down payment and trade-in. Your monthly payment is then the EMI on that amount at the loan’s APR. A bigger down payment or trade-in lowers both the payment and the total interest, and helps avoid being "underwater" (owing more than the car is worth) as it depreciates.
Term length, depreciation and negative equity
Long 72- and 84-month auto loans lower the monthly payment but mean you pay far more interest and stay underwater longer because cars depreciate fastest in the first years. A shorter term with a payment you can afford is usually the cheaper, safer choice. Always compare dealer financing against a pre-approved bank or credit-union rate.
| Term | Monthly payment | Total interest | Total cost |
|---|---|---|---|
| 36 months | ~$772 | ~$2,785 | ~$27,785 |
| 48 months | ~$598 | ~$3,713 | ~$28,713 |
| 60 months | ~$495 | ~$4,681 | ~$29,681 |
| 72 months | ~$427 | ~$5,694 | ~$30,694 |
Worked examples
New car
Inputs: $32,000 · $4k down · 6.5% · 60 mo
Result: ~$548/mo · ~$4,860 interest
Shorter term
Inputs: same, 48 mo
Result: ~$665/mo · ~$3,830 interest
Glossary
- APR
- The annual percentage rate charged on the auto loan, including most fees.
- Amount financed
- Price plus tax and fees, minus down payment and trade-in.
- Trade-in
- The value your old vehicle is credited toward the new purchase.
- Negative equity
- Owing more on the loan than the car is currently worth.
Related reading
Frequently Asked Questions
Get weekly tool tips & updates
New tools, power-user tips, and productivity hacks — delivered free every Friday.
No spam, ever. Unsubscribe with one click.
Why use Car Loan Calculator?
- Transparent formulas so you understand every calculation
- Supports multiple currencies and regional tax rules
- Saves you from spreadsheet errors with validated inputs
- Shareable results for discussions with advisors or partners
Common use cases
- Calculate how long to pay off a credit card balance
- Model different mortgage scenarios before house hunting
- Forecast investment growth with compound interest
- Break even analysis for a new product or service
- Compare net salary after tax across different countries
Related Finance
Loan Calculator
Calculate your loan monthly payment, total interest, and payoff. Compare rates and terms instantly with this free online personal loan calculator.
Mortgage Calculator
Calculate your monthly mortgage payment, total interest, and see a full amortization schedule. Free online mortgage calculator.
Savings Goal Calculator
Calculate how long it takes to save for a financial goal or how much to save per month. Includes interest rate. Free savings target calculator.
Compound Interest Calculator
Calculate compound interest with monthly contributions. See how your investment grows over time with our free compound interest calculator.
Tip Calculator
Calculate tip amount and split the bill between multiple people. Choose custom tip percentage and see per-person totals.
Discount Calculator
Calculate discounted prices, find what percentage off an item is, or find the original price. Free online discount calculator.
Explore all Finance.