Auto Loan Calculator
Estimate your monthly auto loan payment and the total cost of financing a vehicle. Enter your details in the white box. The orange box updates automatically as you change the numbers.
What to calculate next?
Suggested next step Car Payment Calculator →Explore the next part of your financial decision.
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How the Auto Loan Calculator works
The calculator starts with the vehicle purchase price, adds estimated sales tax and subtracts your down payment and trade-in value to calculate the amount financed.
It then calculates the monthly payment using a standard fixed-rate loan repayment formula. Your monthly payment includes both principal and interest.
A larger down payment reduces the amount borrowed. A shorter loan term usually increases the monthly payment but reduces the total interest paid.
This calculator assumes sales tax applies to the full vehicle price and is included in the loan. Sales tax rules vary by state, including whether a trade-in reduces the taxable amount.
The estimated total vehicle cost includes the purchase price, sales tax and loan interest. It excludes registration, dealer fees, insurance, maintenance and other ownership expenses.
Results are estimates and do not represent a financing offer or guarantee of loan approval.
How do down payments and trade-ins change auto loan payments?
A down payment and trade-in reduce the amount you need to finance. For example, a $25,000 vehicle with a $3,000 down payment and a $2,000 trade-in has a $20,000 price difference before sales tax and other charges. A smaller financed balance generally means lower monthly payments and less interest, assuming the same APR and loan term.