Auto Loan Calculator
Enter the car price, what you are putting down, the sales tax and the loan terms. We show the monthly payment and the full cost of the loan.
This calculator gives estimates for information only. It is not financial, tax or legal advice. Real results depend on lender terms, fees and local rules.
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The formula
Amount financed = (price x (1 + sales tax)) - down payment and trade-in. Then payment = P x r / (1 - (1 + r)^-n).
How the loan amount is worked out
We add sales tax to the price, then subtract your down payment and any trade-in value. What remains is the amount you finance. Some buyers also roll fees and extended warranties into the loan, which increases the amount.
Shorter is cheaper
A longer loan lowers the payment but raises total interest, and cars lose value quickly. With a 72 or 84 month loan you can owe more than the car is worth for years. Many advisers suggest 48 to 60 months, or less.
Example
A 25,000 car with 8 percent sales tax is 27,000. With 5,000 down you finance 22,000. At 6.5 percent over 60 months the payment is about 430.46 a month and total interest is about 3,827.
Examples to check
Type these into the calculator above to see how it behaves. Every result below was produced by the same calculator code that runs on this page.
| What you enter | What you get |
|---|---|
| Vehicle price ($): 25000; Down payment and trade-in ($): 5000; Sales tax (%): 8; Interest rate (% a year): 6.5; Loan term (years): 5 | Monthly payment (principal and interest): $430.46 |
| Vehicle price ($): 35000; Down payment and trade-in ($): 7000; Sales tax (%): 7; Interest rate (% a year): 5; Loan term (years): 4 | Monthly payment (principal and interest): $701.24 |
| Vehicle price ($): 18000; Sales tax (%): 6; Interest rate (% a year): 8; Loan term (years): 6 | Monthly payment (principal and interest): $334.53 |
Auto Loan Calculator: frequently asked questions
What is the difference between interest rate and APR?
The interest rate is the cost of borrowing the money. APR also includes lender fees and some other charges, so it is a better way to compare offers. This calculator uses the interest rate you enter, so add fees separately if there are any.
Does paying extra each month really help?
Yes, a lot. Extra payments go straight to the principal, so you pay less interest on every later month. Try the extra payment box to see how many months and how much interest you save.
Is this financial advice?
No. It gives an estimate from the numbers you enter. Real offers depend on fees, tax and the lender or provider, so check the terms before you commit.
Is what I enter in this calculator saved or sent anywhere?
No. The calculation runs in your browser, so what you enter is not sent to our servers. We only count, anonymously, whether a tool ran successfully.
Is this calculator free to use?
Yes. It is free, needs no sign-up and has no usage limit.
Last reviewed: October 3, 2026