Auto Loan Calculator
Estimate your monthly car payment, amount financed, total interest, sales tax impact, and amortization schedule.
Last reviewed: June 2026| Item | Amount |
|---|---|
| Vehicle Price | - |
| Sales Tax | - |
| Down Payment | - |
| Trade-in Value | - |
| Amount Financed | - |
| Total Interest Paid | - |
| Total Amount Paid | - |
Quick Answer
An auto loan payment depends on the vehicle price minus your down payment, the interest rate, and the loan term. For a $30,000 loan at 7% over 60 months, the payment is about $594 per month. Enter your price, down payment, rate, and term above to estimate your monthly payment and the total interest over the life of the loan.
What this auto loan calculator estimates
This auto loan calculator estimates a fixed-rate monthly car payment from vehicle price, down payment, trade-in value, sales tax, loan term, and APR. It also shows the amount financed, total interest, total amount paid, a true-cost summary, and an optional amortization table that breaks each monthly payment into principal, interest, and remaining balance.
The calculation uses the standard amortizing-loan payment formula. The monthly interest rate is APR divided by 12, and the term is the number of monthly payments. If APR is 0%, the financed amount is divided evenly across the term. The sales tax checkbox controls whether sales tax is rolled into the financed amount or treated as a separate upfront cost.
How the inputs work
Vehicle price is the negotiated purchase price before tax. Down payment reduces the amount financed immediately; the slider is a convenience control that keeps the down payment close to a percentage of price. Trade-in value also reduces the financed amount, but this page does not model negative equity or an existing loan payoff. If you owe more on your trade than it is worth, add the negative equity to the vehicle price or subtract less trade-in value so the financed amount matches the lender quote.
Sales tax is applied to the vehicle price in this simplified model. Some states tax trade-in, rebates, add-ons, fees, or leases differently, so use your local quote when available. Loan term changes the number of monthly payments. A longer term usually lowers the monthly payment but keeps the balance outstanding longer, which can increase total interest. APR is the annual percentage rate from a lender quote or preapproval; the calculator does not estimate APR from credit score.
Worked default example
With the default inputs, a $35,000 vehicle, $5,000 down payment, no trade-in, 7% sales tax, 60 months, and 6.5% APR produces a $32,450 financed amount when sales tax is included in the loan. The monthly payment is $634.92, total interest is $5,645.29, total loan payments are $38,095.29, and true cost on this page is $43,095.29 because it combines vehicle price, sales tax, and interest.
If the same buyer shortens the term, the monthly payment rises but total interest often falls. If the buyer extends the term to 72 or 84 months, the payment may feel easier month to month, but total interest and the risk of owing more than the vehicle is worth can increase. Use the amortization schedule to see how slowly the loan balance falls early in the term.
Using the amortization schedule
The amortization table is useful when comparing payoff timing, refinancing, or extra-payment plans. Early payments contain more interest because the balance is highest at the start. Later payments shift toward principal as the balance declines. The table assumes regular monthly payments, no missed payments, no late fees, no prepayment penalties, and no extra principal payments.
What this calculator does not include
This is not a full cost-of-ownership model. It excludes title and registration fees, documentation fees, dealer add-ons, extended warranties, service contracts, GAP coverage, insurance, fuel or charging, maintenance, repairs, parking, tolls, depreciation, rebates, manufacturer incentives, negative equity, prepayment penalties, and late fees. Add those items separately when comparing offers.
Sources and further reading
For consumer guidance on comparing loan offers and total cost, see the CFPB guide on comparing auto loan offers, CFPB auto loan key terms, CFPB guidance on how much to borrow for a car, and the FTC overview of financing or leasing a car.
Frequently Asked Questions
Quick reference
| Output | Meaning |
|---|---|
| Monthly payment | Fixed monthly principal and interest payment for the selected term and APR. |
| Loan amount | Vehicle price plus financed tax, minus down payment and trade-in value. |
| Total interest | Interest paid if every scheduled payment is made and no extra principal is added. |
| True cost | Vehicle price plus sales tax plus loan interest, excluding ownership expenses and fees. |