Auto Loan Calculator

Estimate your monthly car loan payment, total interest, total cost and full amortization schedule — including down payment, trade-in, sales tax and APR.

Monthly payment
Total interest
Total of payments
Amount financed

Cost breakdown

Loan summary

Amortization schedule

#PrincipalInterestBalance

    Frequently asked questions

    How is the monthly payment calculated?

    The calculator uses the standard amortization formula: M = P × (r(1+r)^n) / ((1+r)^n − 1), where P is the financed amount after down payment, trade-in and fees, r is the monthly interest rate (APR divided by 12), and n is the total number of monthly payments.

    What does the down payment do?

    A larger down payment reduces the amount you need to finance, which lowers your monthly payment and the total interest paid over the life of the loan. Many lenders recommend at least 10-20% for a new car and 20% or more for a used car.

    How does sales tax affect the payment?

    Sales tax is added to the negotiated car price before the loan is calculated, unless you pay it upfront. In states that allow tax on the trade-in credit, the trade-in reduces the taxable amount.

    Is this auto loan calculator accurate?

    The estimate uses a fixed-rate amortization formula. Actual lender offers can differ based on credit score, loan term limits, dealer fees, manufacturer rebates, and rate promotions. Always verify with your lender or dealer before signing.