Free Auto Loan Calculator
Work out the real car payment before you sit down with the finance office. Includes trade-in equity, sales tax, dealer fees and total interest, not just the sticker price.
Monthly payment
How to use the auto loan calculator
- Enter the negotiated price of the vehicle (before tax and fees).
- Add your cash down payment and, if you are trading in, the trade-in value and anything you still owe on that car.
- Enter your local sales tax rate and the title, registration and documentation fees from the buyer's order.
- Set the APR and term. Try a shorter term to see how much interest it saves.
What really drives your car payment
Dealers like to negotiate on the monthly payment because it hides everything else. A $520 payment can be a fair deal on a 48-month loan or an expensive one stretched to 84 months. Always look at the amount financed and the total interest: those two numbers tell you what you are actually paying.
Your trade-in helps twice in most states: its value reduces the price you finance, and sales tax is charged only on the difference between the new car's price and the trade-in. A few states, including California, Hawaii and Kentucky, do not give that tax credit and some others cap it; untick the box to model them. If you still owe more on your trade than it is worth (negative equity), that balance gets rolled into the new loan, which is one of the fastest ways to end up upside down on a car.
Get pre-approved by a bank or credit union before you shop so you have a rate to compare against the dealer's offer. Then compare loans by APR and total cost, not monthly payment. The 20/4/10 rule of thumb is a useful sanity check: at least 20% down, no more than four years, and total car costs (payment, insurance, fuel) under 10% of gross income.
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Frequently asked questions
Should I roll taxes and fees into the loan?
Rolling them in lowers what you pay at signing but means you pay interest on them for the whole loan. Paying them in cash is cheaper if you can.
What happens if I owe more than my trade-in is worth?
The difference (negative equity) is added to the new loan. The calculator shows this as negative trade-in equity. Paying it down first, or keeping the old car longer, avoids starting the new loan underwater.
Is a 72- or 84-month loan a bad idea?
It lowers the payment but usually comes with a higher rate, much more total interest, and years where you owe more than the car is worth. Use the term selector to compare the total cost.
Does this include insurance?
No. Insurance, maintenance and fuel are separate ongoing costs. Get an insurance quote before you buy; it varies a lot by model.