Auto Loan Calculator
Work out your real monthly car payment and the true cost of the loan, including sales tax, your down payment and trade-in, then see how the loan term changes what you pay.
Vehicle & Loan Details
Loan Summary
Monthly Payment
$635
for 60 months
Vehicle Price:$35,000
Sales Tax:+$2,450
Down + Trade-in:-$5,000
Amount Financed:$32,450
Total Interest:$5,645
Total Cost:$43,095
How the loan term changes your cost
Same price and rate: only the length changes. Longer terms shrink the payment but cost more interest.
| Term | Monthly | Total interest |
|---|---|---|
| 3 yr (36 months) | $995 | $3,354 |
| 4 yr (48 months) | $770 | $4,488 |
| 5 yr (60 months) | $635 | $5,645 |
| 6 yr (72 months) | $545 | $6,825 |
| 7 yr (84 months) | $482 | $8,027 |
A noticeable chunk of what you pay is interest. A bigger down payment or shorter term would help.
Interest is 16% of the vehicle price
Plan your monthly budget with the 50/30/20 rule →Already have a car loan? See if refinancing it saves money →
Estimates for education only. Excludes fees, insurance and registration; your lender's exact terms may differ.
Related guides
Methodology
How this calculator works
Built by Andrés Soler · Updated
Formula
- Amount financed = vehicle price + sales tax − down payment − trade-in value
- Sales tax = vehicle price × tax rate
- Payment = L × i × (1 + i)^n ÷ ((1 + i)^n − 1), where L is the amount borrowed, i the monthly rate (annual rate ÷ 12) and n the number of months
Assumptions & limits
- Sales tax is applied to the full vehicle price. Many U.S. states tax only the price minus the trade-in, so your tax may be lower.
- Registration, title, dealer fees and add-ons are not included unless you add them to the price.
- Fixed APR for the whole term.
Educational estimates, not financial advice. Check important decisions with your lender or a licensed advisor.
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