Monthly payment for a new or used car
Auto Loan Payment Calculator
Work out what a car really costs per month once sales tax, a trade-in and the APR are in the same equation. The calculator amortises the financed balance over your term and shows the interest you will hand over by the end.
How this is calculated
- Sales tax is applied to the vehicle price before the trade-in is taken off, which is how most US states compute it.
- The loan is amortised monthly: interest first, principal after, so early payments are mostly interest.
- Total cost adds the down payment, every monthly payment and the sales tax back together.
Before you go
Should I put more money down?
A bigger down payment lowers the amount financed and therefore the interest, but it also locks cash into a depreciating asset. Anything under 10% down usually means a higher APR or a shorter term.
Does a longer term always mean a lower payment?
It lowers the monthly figure and raises the total interest. Going from 60 to 72 months typically cuts the payment a few percent while adding considerably more interest over the life of the loan.
What APR should I enter?
Use the APR on your loan offer, not the advertised "rate" — APR bundles in origination fees. Dealer financing and credit-union quotes usually differ by a point or more.
Estimation only. Rates, taxes and fees in your actual offer will differ, and this tool is not financial advice or a loan quote.