CAR CALCULATOR
Car Loan Calculator
Estimate your monthly payment, total interest, and full loan cost using a standard fixed-rate auto loan.
Your loan estimate
Amount financed = vehicle price + estimated tax + fees - down payment - trade-in value
Planning estimate only, not a lender quote. Taxes are estimated from the full vehicle price. Trade-in tax treatment, fees, compounding, payment timing, and lender rules vary by location and provider.
How to use this calculator
Estimate a fixed-rate vehicle loan payment and understand how price, deposit, trade-in, fees, term, and APR affect borrowing cost.
Who this is for: This calculator helps car shoppers compare dealer or bank loan scenarios before discussing finance and identify a payment that fits their budget.
- Enter the vehicle price, down payment, trade-in value, tax rate, and fees.
- Choose the loan term and enter the annual percentage rate.
- Review monthly payment, amount financed, total interest, and total vehicle cost.
Example comparison
Example: compare the same vehicle with a 48-month and 72-month term. The longer term may show a smaller monthly payment, but the total-interest result usually reveals a higher overall borrowing cost.
How the calculation works
The calculator uses the standard fixed-payment amortization formula. At 0% APR, the amount financed is divided evenly by the number of months.
Understanding the result
A longer term can reduce the monthly payment while increasing total interest. Compare both payment and total cost before choosing a term.
Frequently asked questions
How does APR affect the loan?
A higher APR increases both the monthly payment and total interest. Even a small rate change can matter over a long term.
Is this a lender quote?
No. Lender fees, payment timing, compounding rules, credit profile, and local taxes can change an actual offer.
How is sales tax estimated?
The entered tax rate is applied to the full vehicle price. Trade-in tax treatment varies by location.
Should I choose the lowest monthly payment?
Not automatically. A longer term can lower the payment while increasing interest and the risk of owing more than the car is worth.