What will my car payment be?
Calculate your monthly auto loan payment, total interest, and see the full cost of financing a vehicle including taxes and fees.
What This Calculator Does
An auto loan calculator helps you estimate monthly payments and total costs for financing a new or used vehicle. It accounts for vehicle price, down payment, trade-in value, interest rate, and loan term.
How It Works
Enter the vehicle price, your down payment, any trade-in value, expected interest rate (APR), and desired loan term. The calculator uses standard amortization formulas to show your fixed monthly payment and total interest costs.
Why It Matters
Understanding the true cost of auto financing helps you make informed decisions. A longer term lowers monthly payments but increases total interest. Knowing your numbers helps you negotiate better deals.
Loan Details
Your Monthly Payment
per month for 60 months
This calculator provides estimates for informational purposes only.
How Auto Loan Is Calculated
Enter the vehicle price, your down payment, any trade-in value, expected interest rate (APR), and desired loan term. The calculator uses standard amortization formulas to show your fixed monthly payment and total interest costs.
taxableAmount = max(0, vehiclePrice - tradeInValue); salesTax = taxableAmount*taxRate/100. loanAmount = vehiclePrice - downPayment - tradeInValue, plus salesTax if includeTaxInLoan, plus (title+registration+doc fees) if includeFeesInLoan; floored at 0. monthlyPayment = standard amortization of loanAmount at interestRate over loanTerm months. totalInterest = monthlyPayment*months - loanAmount. totalCost = monthlyPayment*months + downPayment + tradeInValue + (tax if not financed) + (fees if not financed). outOfPocket = downPayment + (tax if not financed) + (fees if not financed). Where: vehiclePrice, downPaymentAmount, tradeInValue, loanTerm (months), interestRate (APR), salesTaxRate, titleFees, registrationFees, docFees, includeTaxInLoan, includeFeesInLoan. Assumptions: monthly compounding; sales tax computed on price minus trade-in (standard trade-in tax credit); fees and tax either fully financed into loan or paid entirely upfront (no partial financing); no rounding of intermediate values.
Key Takeaways
- •Aim for 20% down payment to avoid being 'underwater' on your loan
- •Keep total loan term under 60 months to minimize interest
- •Get pre-approved before visiting the dealership
- •Your credit score significantly impacts your rate
- •Consider total cost of ownership including insurance, maintenance, and fuel
- •Shop rates from banks and credit unions, not just dealer financing
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