Health Tool
Auto Loan Calculator
Factor in vehicle price, down payment, trade-in value, sales tax, and interest rate to see your true monthly car payment.
Vehicle details
Loan summary
Monthly payment
$635
- Loan amount
- $32,450
- Sales tax
- $2,450
- Total interest
- $5,645
- Total cost of vehicle
- $43,095
How to use this calculator
- 1
Enter your details
Fill in the required fields on the left.
- 2
Review the results
See your calculated results on the right.
Frequently asked questions about Auto Loan Calculator
- How is my car loan payment calculated?
- Monthly payments depend on the vehicle price, down payment, trade-in value, loan term, interest rate, and applicable taxes or fees.
- How much should I put down on a car?
- A larger down payment reduces the loan amount, lowers monthly payments, and decreases total interest paid.
- Does a trade-in reduce my loan?
- Yes. The trade-in value is applied toward the purchase price, reducing the amount you need to finance.
- What loan term is best?
- Shorter loan terms usually have higher monthly payments but lower total interest. Longer terms reduce monthly payments but cost more overall.
- How does my credit score affect my loan?
- Higher credit scores often qualify for lower interest rates, reducing the total cost of the loan.
- Should I finance taxes and fees?
- Financing taxes and fees increases the loan amount and total interest, but it lowers your upfront payment.
- Can I pay off my auto loan early?
- Yes. Paying extra toward the principal can shorten your loan term and reduce interest costs.
- What is APR?
- APR, or Annual Percentage Rate, includes both the interest rate and certain loan fees, giving a more complete borrowing cost.
- Does this calculator work for used cars?
- Yes. It can estimate payments for both new and used vehicle loans.
- What is negative equity on a car loan?
- Negative equity occurs when you owe more on your auto loan than the vehicle is currently worth.