Car Loan Calculator
Estimate your monthly car payment from the vehicle price, down payment, trade-in value, sales tax, and any fees you roll into the loan. See total interest, payoff date, and the full amortization schedule.
Defaults to 0% — vehicle sales tax varies by state (and sometimes county/city). Look yours up on the Sales Tax Calculator.
Monthly Payment
$633.64Total Interest
$6,018Payoff Date
Aug 203160 payments
| Detail | Value |
|---|---|
| Vehicle Price | $35,000 |
| Down Payment | -$3,000 |
| Trade-In Value | -$0 |
| Sales Tax (0% of $35,000) | +$0 |
| Fees (paid at signing) | $0 |
| Amount Financed | $32,000 |
| Due at Signing | $3,500 |
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $2,065 | $5,539 | $26,461 |
| 2 | $1,664 | $5,940 | $20,521 |
| 3 | $1,235 | $6,369 | $14,152 |
| 4 | $774 | $6,829 | $7,323 |
| 5 | $281 | $7,323 | $0 |
Estimate only — your actual APR, fees, and taxable base depend on your lender, dealer, and state/local rules. This tool calculates your loan payment; for the federal OBBBA interest deduction on a new US-assembled vehicle, use the Car Loan Interest Deduction Calculator linked above.
Edit inputs ↑What goes into the amount financed
Your loan amount is rarely the sticker price. Start with the vehicle price, subtract your down payment and trade-in allowance, then add back sales tax (charged on the taxable base — see the FAQ on trade-in treatment) and any fees you choose to finance instead of pay at signing. The larger that final number, the larger your monthly payment and total interest — a bigger down payment or trade-in is the single biggest lever you control.
The APR you enter should be the annual percentage rate quoted by your lender, which is usually close to but not identical to the "buy rate" advertised by a dealer — dealer financing sometimes marks up the buy rate as their compensation, so it's worth comparing a pre-approved rate from a bank or credit union against the dealership's offer.
New vs. used, and loan term trade-offs
Longer terms (72-84 months) lower the monthly payment but stretch out interest paid and increase the risk of being "upside down" — owing more than the car is worth — especially on a vehicle that depreciates quickly. Shorter terms (36-48 months) cost more per month but pay off faster with meaningfully less total interest. Used-vehicle loans often carry a slightly higher APR than new-vehicle loans from the same lender, since used cars carry more resale-value uncertainty. Run both scenarios above by changing the term to see the payment and total-interest trade-off for your numbers.
Frequently asked questions
How is a car loan payment calculated?
The amount financed = vehicle price − down payment − trade-in value + sales tax + any fees rolled into the loan. That amount runs through the standard amortization formula M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where r is your APR ÷ 12 and n is the loan term in months. A larger down payment or trade-in lowers the financed amount directly; rolling fees into the loan raises it (and means you pay interest on the fees too).
Does sales tax apply before or after my trade-in?
Most states tax the price net of your trade-in allowance — e.g., a $35,000 car with a $10,000 trade-in is taxed on $25,000, not $35,000. A minority of states tax the full purchase price regardless of trade-in. This calculator uses the net-of-trade-in convention by default; check your state's rule on the Sales Tax Calculator, since it changes how much you finance.
Should I roll fees into the loan or pay them at signing?
Rolling title, registration, and doc fees into the loan spreads them over the loan term — but you pay interest on them, and they count toward your loan-to-value ratio. Paying them at signing costs more cash upfront but saves the interest on that amount. On a typical $500-$800 fee bundle at 7% APR over 5 years, rolling it in costs roughly $90-$150 in extra interest versus paying it at signing.
How does the car loan interest deduction relate to this calculator?
This tool estimates your monthly PAYMENT before you buy. The separate Car Loan Interest Deduction Calculator estimates the federal tax deduction (up to $10,000/year, 2025-2028) on interest you've already paid, available only for new vehicles with final assembly in the US and subject to an income phase-out. Use this calculator to budget the loan; use that one at tax time.
Sources
Related Calculators
Car Loan Interest Deduction
OBBBA $10k cap for US-manufactured vehicles, phases out
Loan Calculator
Monthly payment, total interest, and full amortization for any fixed-rate loan
Personal Loan Calculator
Monthly payment, total cost, and effective APR including an origination fee
Sales Tax Calculator
State + local sales tax rates and nexus obligations
Amortization Calculator
Full payment schedule plus interest saved and months cut from extra payments