Auto Loan Calculator
Estimate your auto loan payment — enter the vehicle price, down payment, trade-in, term and APR to see your monthly payment, total interest and total cost, with optional sales tax.
How an auto loan is calculated
The amount financed is the vehicle price minus your down payment and trade-in, plus any sales tax you roll into the loan. That balance is paid off over the loan term with the standard amortization formula, using the monthly rate (APR ÷ 12). Early payments are mostly interest and later ones mostly principal, but the monthly amount stays level. This calculator shows the payment along with the total interest and total cost so you can see what the financing really adds.
Term, rate and down payment
Stretching to a 72- or 84-month term lowers the monthly payment but piles on interest and raises the risk of owing more than the car is worth. A larger down payment or trade-in cuts the amount financed and the interest. If you’d rather start from a monthly budget, use the car payment calculator, and to compare a specific brand’s typical financing, try the Toyota, Honda, Ford car payment pages.
Car payment by brand
Estimate a payment with a typical example for a popular model:
Frequently asked questions
How do I calculate my auto loan payment?
Take the amount financed — vehicle price minus your down payment and trade-in, plus any sales tax rolled in — and apply the monthly interest rate (APR ÷ 12) over the number of months in the standard loan formula. For example, a $30,000 loan at 7% APR over 60 months is about $594 a month. Enter your numbers above and it’s calculated instantly.
What is a good interest rate on a car loan?
Rates depend heavily on your credit score, the lender and whether the car is new or used. Borrowers with strong credit often see the lowest advertised APRs, while lower scores pay several points more. Compare offers, and try different APRs above to see how much the rate changes your payment.
How does the loan term affect my car payment?
A longer term (72 or 84 months) lowers the monthly payment but means more total interest and a higher chance of owing more than the car is worth. A shorter term (36–48 months) costs more per month but far less interest overall. The calculator shows both the payment and total interest so you can balance them.
Should I make a bigger down payment?
A larger down payment (or trade-in) reduces the amount financed, which lowers your monthly payment and total interest and helps you avoid being “upside down” on the loan. Even a few thousand dollars makes a visible difference — adjust the down payment above to see it.