Auto Loan Calculator
Estimate a fixed monthly vehicle loan payment using purchase price, down payment, trade-in value, sales tax, financed fees, APR, and a term in months.
Auto Loan Calculator tool
About the Auto Loan Calculator
The calculator reports amount financed, interest, and total economic cost including your down payment and trade-in value. It can help compare vehicle prices or financing terms. Results are estimates, not financial advice.
How Is Auto Loan Calculated?
Sales tax is calculated on the full vehicle price before the down payment and trade-in. Fees are financed. The standard monthly amortization formula then determines the payment.
Financed amount = price + price × tax rate ÷ 100 + fees − down payment − trade-in
M = P × r ÷ [1 − (1 + r)^(−n)]
Total cost = loan repayment + down payment + trade-in value
Example
A $30,000 car with $3,000 down, a $2,000 trade-in, 6% sales tax, and $500 fees requires $27,300 financing. At 0% over 60 months, the payment is $455 and total cost is $32,300.
How to Use the Auto Loan Calculator
- Enter the negotiated vehicle price.
- Enter cash down and trade-in value.
- Enter sales tax percentage and financed fees.
- Enter APR and a whole-month term.
- Compare amount financed, monthly payment, interest, and total cost.
Auto Loan Calculator Examples
Interest-free financing
A $24,000 amount financed at 0% for 48 months requires $500 per month.
Tax and fees
A $20,000 vehicle with 5% sales tax and $300 fees costs $21,300 before interest. A $2,000 down payment reduces financing to $19,300.
Longer loan terms
A longer term generally lowers the monthly payment but increases total interest at the same positive rate.
Dealer quote differences
Rebates, local tax credits, negative equity, and financed add-ons can change the amount borrowed. Check the final lending disclosure.
Frequently Asked Questions
Does trade-in reduce taxable price?
Not in this model. Some jurisdictions offer credits, so your dealer’s tax calculation may differ.
What if I still owe on my trade-in?
Outstanding trade-in debt is not modeled. This calculator assumes the entered trade-in value is available to reduce financing.
Are fees paid upfront?
Entered fees are financed. Do not include an upfront fee again in the financed fee field.
Why include trade-in value in total cost?
A trade-in is an asset you give up. Including its value shows the purchase’s economic cost, not just cash payments.
Is insurance included?
No. Insurance, fuel, maintenance, and registration renewals are separate ownership costs.