Car Loan Calculator
Estimate your monthly auto loan payment. Account for your trade-in, sales tax, fees and down payment to see exactly what you will finance and pay in interest.
A worked example
Running this tool on current national benchmarks (Federal Reserve / Freddie Mac via FRED (St. Louis Fed)) — swap in your own numbers to see how the result moves.
- Solve for
- Monthly payment
- Vehicle price
- $34,000
- Cash down payment
- $4,000
- Trade-in allowance
- $0
- Owed on trade-in
- $0
- Interest rate (APR)
- 7.50%
- Loan term
- 60 months
- Sales tax rate
- 6%
- Title & other fees
- $400
$32,440 financed over 60 months at 7.50%
- Vehicle price$34,000
- Amount financed$32,440
- Sales tax$2,040
How the estimated monthly payment changes with vehicle price
Holding the other inputs at the example above, here is how the result moves as vehicle price changes.
| Vehicle price | Estimated monthly payment | Vehicle price |
|---|---|---|
| $20,000 | $352.67 | $20,000 |
| $30,000 | $565.07 | $30,000 |
| $40,000 | $777.47 | $40,000 |
| $60,000 | $1,202.28 | $60,000 |
The math behind it
Sales tax is applied to the vehicle price after subtracting your trade-in allowance, then title and other fees are added. Your cash down payment and trade equity — the trade-in allowance minus any balance still owed on it — reduce what you finance. The remaining balance is amortized over your term to give the monthly payment, total interest, and a full breakdown of principal, interest, and tax and fees. You can also solve in reverse: enter a target monthly payment and the calculator works back to the vehicle price it supports.
What each input means
- Owed on trade-in
- Loan balance remaining on the vehicle you are trading.
Assumptions & limits
- Sales tax is charged on the price net of the trade-in allowance, as most states do; the taxable amount is shown.
- Trade equity reduces the financed amount, and negative equity (owing more than the trade is worth) is rolled into the loan.
- Title and other fees are financed into the loan rather than paid in cash.
- Registration renewals, insurance, and maintenance are not included.
- A fixed APR is assumed for the full term.
Common new-car loan terms
Offered term lengths; longer terms lower the payment but raise total interest and the time spent underwater.
| Term | Months |
|---|---|
| Short | 36 to 48 months |
| Standard | 60 to 72 months |
| Extended | 84 to 96 months |
Common questions
How does my trade-in change the amount I finance?
Two ways. First, in most states sales tax is charged only on the price after the trade-in allowance, so a trade lowers your tax. Second, your trade equity — the allowance minus any loan still owed on that vehicle — is subtracted from the amount financed. If you owe more than the trade is worth, that negative equity is added to the new loan instead.
Can I calculate the price I can afford from a monthly payment?
Yes. Switch the calculator to solve for vehicle price, enter your target monthly payment, rate, term, down payment, and trade details, and it works backward to the price that produces that payment after tax and fees. This is useful for shopping to a budget rather than to a sticker price.
Are taxes and fees included in the payment?
The sales tax and the title and other fees you enter are added to the amount financed, so they are spread across your payments with interest. Ongoing costs — registration renewals, insurance, and maintenance — are not part of the loan and are not shown here.