Car Loan Calculator
Work out your monthly car payment before you visit the dealer. Include your down payment, trade-in, sales tax and fees to see the real cost of the car.
Monthly payment
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Amount financed
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Total interest
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Total of payments
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Total cost of the car
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Everything you pay
Due at signing
Balance over time
Balance owedInterest paid so far
Payment schedule
| Year | Payment | Principal | Interest | Balance |
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How to use the car loan calculator
Enter the vehicle price, your down payment, the APR you’ve been offered and the loan term. Open Trade-in, tax and fees to add your trade-in, any loan still owed on it, your state’s sales tax and title and registration fees. The calculator shows your monthly payment, the total interest, the cash due at signing and the total cost of the car.
Compare before you sign
Try different terms to see how a longer loan lowers the payment but raises the interest, and tick Add tax and fees to the loan to compare paying them upfront with financing them. The payment schedule shows how each payment splits between principal and interest; download it as a CSV file for Excel or Google Sheets.
Assumptions
The APR is fixed and payments are monthly. Dealer add-ons such as extended warranties and GAP insurance aren’t included unless you add them to the fees. Results are estimates, not a loan offer or financial advice.
Frequently asked questions
How is a car loan payment calculated?
Car loans use the standard amortization formula M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the amount financed, r the monthly rate (APR ÷ 12) and n the number of months. Financing $35,000 at 6.35% APR for 60 months costs $682.36 a month and $5,942 in interest.
Is a 72-month car loan a good idea?
Longer loans lower the payment but cost more interest, and you may owe more than the car is worth for longer. At 6.35%, $35,000 over 72 months is $585.85 a month with $7,181 interest, against $827.60 a month and $4,725 interest over 48 months.
How does a trade-in lower my sales tax?
Most states charge sales tax only on the price minus your trade-in. On a $30,000 car with a $10,000 trade-in and 6% tax, you pay tax on $20,000 ($1,200) instead of $30,000 ($1,800). A few states don’t give this credit, so untick the box if yours doesn’t.
What if I owe more on my trade-in than it’s worth?
That gap is called negative equity. Dealers usually add it to the new loan, so you pay interest on it. Enter the amount you still owe and the calculator adds the difference to the amount financed.
Should I pay tax and fees upfront or finance them?
Paying them upfront means borrowing less and paying less interest. Financing them lowers the cash you need at signing. Tick “Add tax and fees to the loan” to compare both.
What APR will I get?
It depends mostly on your credit score, the loan term and whether the car is new or used. In Q2 2026 the average was about 6.35% for new cars and 11.2% for used cars, according to Experian. Getting pre-approved by a bank or credit union gives you a rate to compare with the dealer’s offer.