Auto Loan Calculator
Your monthly car payment with trade-in, down payment, sales tax and dealer fees, and what the car will really cost you.
Monthly payment
$572.25
- Amount financed
- $28,900
- Total interest
- $5,435
- Total of payments
- $34,335
- Total cost incl. down/trade
- $43,335
- Sales tax
- $2,100
- Payoff
- 60 payments
Principal and interest by year
Amortization schedule
| Year | Paid | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $6,867 | $5,003 | $1,865 | $23,897 |
| 2 | $6,867 | $5,364 | $1,503 | $18,533 |
| 3 | $6,867 | $5,752 | $1,115 | $12,781 |
| 4 | $6,867 | $6,168 | $699 | $6,614 |
| 5 | $6,867 | $6,614 | $253 | $0 |
Explain my numbers
Get a plain-English reading of the result above: what drives it, what the trade-offs are and what to ask a lender or adviser. It is educational, not financial advice. Only these inputs and results are sent, and nothing is stored.
What goes into the amount financed
Financed = Price − Down − Trade-in + Sales tax + Fees
Dealers often quote a monthly payment first. Negotiate the price of the car instead, then check the payment here. Stretching the term is the easiest way to hide a higher price in a payment that looks affordable.
The 20/4/10 guideline
A popular rule of thumb is 20% down, a loan of no more than 4 years, and total car costs (payment, insurance, fuel) under 10% of gross income. It is conservative, but it keeps you ahead of depreciation.
Frequently asked questions
How do I calculate my car payment?
Start with the price, subtract your down payment and trade-in, add sales tax and any fees you finance, then apply the loan formula to that amount at your rate and term. The calculator does all of this and shows the full schedule.
Is sales tax charged before or after the trade-in?
In most US states sales tax is charged on the price minus the trade-in value, which is how this calculator works. A few states, including California, tax the full price. If yours does, set trade-in to 0 and reduce the down payment instead.
How long should a car loan be?
Shorter is cheaper. Many planners suggest 48 months or less. 72- and 84-month loans lower the payment but raise interest and make it more likely you will owe more than the car is worth for years.
How much should I put down on a car?
A common guideline is at least 20% on a new car and 10% on a used car, which helps you avoid negative equity as the car depreciates.
What credit score do I need for a good auto loan rate?
Rates improve steadily with credit score. Manufacturer promotional rates (sometimes 0–3.9%) usually require top-tier credit. Get a preapproval from a bank or credit union before visiting the dealer so you can compare.