Auto Loan Calculator
Monthly car payment from price, down payment, trade-in, sales tax, APR and term — with total interest and total cost.
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What the Payment Really Contains
Amount financed = price − down payment − trade-in + sales tax (most states tax the price minus trade). The payment then follows the standard amortization formula. Example: a $30,000 car with $5,000 down at 6% APR for 60 months runs $483/month and $3,999 in total interest — stretch the same loan to 84 months and the payment drops to $365 but interest climbs past $5,700.
The term is the quiet lever: dealers sell payments, not prices. Longer terms also spend more time "underwater" (owing more than the car's value). Rules of thumb that age well: 20% down, ≤60 months, total car costs under 10-15% of take-home pay.
Frequently Asked Questions
Does 0% dealer financing beat a rebate?
Compute both: take the rebate with a bank loan vs 0% at full price. On typical numbers a large rebate often wins — this calculator makes the comparison two runs.
Why is my quoted payment higher than calculated?
Add-ons folded into the loan: extended warranty, GAP, doc fees, registration. Ask for the amount financed and rate, then verify here.
Is sales tax charged on the trade-in?
In most states you pay tax only on price minus trade-in value — a real advantage of trading versus selling privately. A few states (e.g. California) tax the full price; check yours.
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