Auto Loan Calculator
Monthly payment
$579.16
Total cost: $37,749.48
Loan summary
- Amount financed
- $29,600.00
- Total interest
- $5,149.48
- Total cost
- $37,749.48
- Paid upfront
- $3,000.00
- Payoff date
- 09/2031
$30,000.00 − $3,000.00 − $0.00 + tax $2,100.00 + fees $500.00 = financed $29,600.00
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $5,178.36 | $1,771.53 | $24,421.64 |
| 2 | $5,525.17 | $1,424.73 | $18,896.47 |
| 3 | $5,895.20 | $1,054.70 | $13,001.27 |
| 4 | $6,290.01 | $659.89 | $6,711.26 |
| 5 | $6,711.26 | $238.63 | $0.00 |
Auto Loan Calculator — Monthly Payment with Tax, Fees & Trade-In
A car loan is more than the sticker price divided by months. This free auto loan calculator starts from the vehicle price, subtracts your down payment and trade-in, adds sales tax (computed on price minus trade-in, as in most US states) and title/registration fees, then amortizes the financed amount into an exact monthly payment with total interest, total cost and payoff date. Use it for new and used cars, dealer or private-party purchases.
Compare 2-to-6-year terms with the preset chips, test a larger down payment against a bigger trade-in credit, and explore the yearly and monthly amortization tables. Every calculation runs locally in your browser with no signup, and any scenario can be shared with a link that reproduces it exactly on another device.
How the payment is calculated
First the financed amount is decomposed from the deal structure, then the standard fixed-rate amortization formula turns it into a monthly payment. The stated annual rate is used directly as the nominal rate divided by 12 — a loan's APR may differ if it includes fees, which this tool lists separately instead of folding into the rate.
taxable = price − trade · r = annual rate / 100 / 12 · n = term in months. With a 0% rate the payment is simply P / n.
How it works
- Enter the vehicle price — the agreed sale price before any credits, from $1,000 to $500,000.
- Enter your cash down payment and trade-in value; both reduce the financed amount, and the trade-in additionally lowers sales tax in most states.
- Enter the annual rate (0–25%) and pick a 2–6 year preset or any term from 12 to 84 months.
- Set your local sales tax rate and title/registration fees — they are financed into the loan, not paid separately.
- Read the monthly payment, amount financed, total interest, total cost and payoff date, then explore the amortization tables.
Trade-in vs down payment
Both reduce the amount you finance dollar for dollar, but a trade-in does double duty in most US states: it also shrinks the taxable amount, cutting sales tax. That is why $5,000 of trade-in usually beats $5,000 cash — compare both above.
Frequently asked questions
How is the monthly auto payment calculated?
The deal is decomposed into an amount financed (price minus down minus trade plus tax plus fees), then amortized with the standard fixed-rate formula over your term.
Is a trade-in better than a down payment?
Both reduce the financed amount equally, but in most states the trade-in also lowers the taxable amount, saving sales tax. A down payment has no tax effect.
How is sales tax computed?
On price minus trade-in, following the rule in most US states. A few states tax the full price — treat the result as an estimate there and adjust with your local rules.
What loan term should I choose?
Shorter terms cost far less interest but demand higher payments. Pick the shortest term whose payment fits your budget; 5–6 year terms cost the most interest overall.
How accurate is this calculator?
The amortization math matches standard references to the cent. Dealer figures may differ with documentation fees, add-ons, or a different tax treatment in your state.