Auto Loan Calculator
$0.00 / month
How This Auto Loan Calculator Works
This calculator estimates your monthly car payment by financing the vehicle price minus your down payment and trade-in value, plus estimated sales tax on the taxable amount. Sales tax rules vary by state — some tax the full vehicle price, others tax the price after trade-in credit — so treat the tax estimate as approximate.
Should I Put More Money Down?
A larger down payment reduces the amount financed, which lowers both your monthly payment and total interest paid. It can also help you avoid being "upside down" on the loan if the car depreciates faster than you pay it off.
New vs Used Car Loan Rates
Used car loans typically carry higher interest rates than new car loans because lenders view older vehicles as higher risk. Comparing offers from your bank, credit union, and the dealership can meaningfully change your rate.
Frequently Asked Questions
Should I include sales tax and fees in the loan amount?
Most auto loans roll sales tax, title, and registration fees into the financed amount, which increases your total interest cost.
How does a trade-in affect my auto loan?
A trade-in reduces the amount you need to finance, lowering both your monthly payment and total interest paid over the loan term.