↑↓ to move · Enter to open · Esc to close

Car Loan Calculator

Find your monthly car payment after the down payment, trade-in, sales tax, and fees. The car loan calculator also shows the total interest and a payment schedule.

Runs in your browser. Your data is not uploaded.
Reviewed by on

Payment
–

Estimate only. Not financial advice.

How to use the Car Loan Calculator

  1. Enter the Vehicle price, your Down payment, and any Trade-in value and amount Still owed on the trade-in.
  2. Set the Interest rate, Loan term, Sales tax, and fees. Tick the full-price box if your state taxes the price before the trade-in.
  3. Press Calculate. The monthly payment appears with the amount financed, the tax included, and the total interest.

How it works

amount financed = price − down payment − trade-in + still owed + sales tax + fees
sales tax = (price − trade-in) × tax rate   (or price × tax rate)
payment = L × i ÷ (1 − (1 + i)^−n)
interest this period = balance × i
principal this period = payment − interest
  • L: the amount borrowed
  • i: the interest rate per payment period (yearly rate ÷ 12 for monthly payments)
  • n: the number of payments

When the rate is 0, the payment is L ÷ n. At a positive rate, the interest share falls as the balance is repaid. Whether an early payment is mostly interest depends on the rate and term.

Examples

  • $30,000 car, $5,000 down, no tax or fees, 7% for 60 months: $495.03 a month.
  • $35,000 car, $3,000 down, $8,000 trade-in with $2,000 still owed, 6% tax, $500 fees: $28,120 financed. At 6.5% for 72 months, that is $472.70 a month.

Watch out for negative equity

If you owe more on your old car than it is worth, the difference is rolled into the new loan. You pay interest on it again, and you start the new loan underwater. Paying the gap in cash, or waiting until the old loan is smaller, avoids this.

Limitations

  • Tax rules differ by state and country. Check whether your area taxes the full price or the price minus the trade-in.
  • Dealer add-ons, warranties, and registration renewals are not included unless you add them as fees.
  • The rate you are offered depends on your credit score.

Sources and method review

The payment model uses a fixed periodic interest rate and a level-payment amortization schedule. It is not an APR disclosure calculation. The CFPB explains amortization, interest rate and APR; APR can include fees as well as interest. Confirm the actual rate, taxable amount and fees with the lender and relevant tax authority.

Technical content review: 27 October 2026. The documented method and assumptions were compared with the calculator code and the cited source. This is not a review by a licensed financial or tax adviser.

Frequently asked questions

How much is a $30,000 car payment?

With $5,000 down at 7% for 60 months, the payment is $495.03 a month before tax and fees.

Is a longer car loan a good idea?

A 72- or 84-month term lowers the payment but costs more interest, and the car may be worth less than you owe for years.

Does a trade-in reduce sales tax?

In many US states, yes: tax is charged on the price minus the trade-in. Some states tax the full price, so check your state before you rely on the result.

Often used together with Car Loan Calculator.