Auto Loan Calculator
Calculate your real monthly car payment — including sales tax, fees, and financing — before you sign at the dealership.
Interactive Auto Loan Calculator
Result
Use this free auto loan calculator to estimate your monthly car payment including sales tax, fees, down payment, and trade-in. Compare new vs. used, dealer vs. credit union financing, and term lengths from 36 to 84 months.
How to use this auto loan calculator
Enter the vehicle price, down payment, trade-in value, sales tax rate, APR, and loan term. The tool computes the amount financed, monthly payment, total interest, and total cost including tax and fees. Toggle advanced settings to add extended warranty or GAP insurance.
Worked example: $35,000 new car, 20% down, 6.5% APR
A $35,000 new car with $7,000 down at 6.5% APR over 60 months in a 7% sales tax state:
- Amount financed: $30,800 (price + tax + fees − down payment − trade-in)
- Monthly payment (P&I): $547
- Total interest: $4,797
- Total cost over 5 years: $39,797 (purchase price + $4,797 interest)
Adding a $50/month GAP insurance brings the total monthly to $597, and total cost to $42,797.
Term length trade-off
Same $28,000 loan at 6.5% APR:
- 36 months: $860/month, $2,952 total interest
- 60 months: $547/month, $4,797 total interest
- 72 months: $469/month, $5,727 total interest
- 84 months: $413/month, $6,663 total interest
The 84-month term cuts the monthly payment in half but more than doubles the total interest. The shortest term you can afford is the right financial choice; the longest term only makes sense for cash flow necessity.
New vs. used car rates
Used car loans typically carry rates 1-2 percentage points higher than new car loans. For a $20,000 used car at 8.5% APR over 60 months with $4,000 down:
- Amount financed: $17,800
- Monthly payment: $367
- Total interest: $4,201
- Total cost: $24,201
The same vehicle at the new-car rate of 6.5% would save about $700 in interest over the loan term.
Tips for negotiating the deal
- Get pre-approved at a credit union first. Knowing your baseline rate prevents the dealer from marking up the financing.
- Negotiate the price, not the payment. A dealer can hit any monthly figure by extending the term; the price is what determines total cost.
- Avoid extended warranties financed into the loan. They typically have low claim rates and high markup. If you want one, pay separately.
- GAP insurance only if down payment is below 20%. If you put less than 20% down, GAP insurance covers the gap between what you owe and what the car is worth if totaled. Otherwise, skip it.
- Compare dealer financing to manufacturer incentives. Sometimes 0% APR is offered; sometimes a cash rebate is the better deal. Run the math on both before deciding.
Common mistakes
- Focusing on monthly payment instead of total cost. A $400/month payment over 84 months is far more expensive than $547/month over 60 months.
- Including trade-in equity in the down payment. Trade-in reduces the loan balance but does not give you cash. Treat it as a balance reduction.
- Financing add-ons you would not pay cash for. Extended warranties, paint protection, and prepaid maintenance have low real value. Negotiate them out or pay separately.
- Rolling old car loan balance into new car loan. This is ‘upside-down’ debt and extends the payoff timeline. Pay off or trade separately.
Related Tools
- Loan Calculator – Calculate payments for any fixed-rate loan.
- Mortgage Calculator – Estimate home loan payments including taxes and insurance.
- Amortization Calculator – Generate a full amortization schedule for any fixed-rate loan.
- Credit Card Payoff Calculator – Build a debt payoff strategy for high-interest cards.
- Budget Calculator – Build a 50/30/20 budget from your take-home pay.
| Term | Loan amount | Monthly payment | Total interest | Total cost |
|---|---|---|---|---|
| 36 months | $28,000 | $860 | $2,952 | $37,952 |
| 48 months | $28,000 | $664 | $3,872 | $38,872 |
| 60 months | $28,000 | $547 | $4,797 | $39,797 |
| 72 months | $28,000 | $469 | $5,727 | $40,727 |
| 84 months | $28,000 | $413 | $6,663 | $41,663 |
Compare your options
Two methods, three minutes. The honest trade-off table.
This auto loan calculator
- + Includes sales tax, fees, down payment, and trade-in.
- + Supports new and used car rates.
- + Side-by-side comparison across loan terms.
- − Does not pull live rates from lenders.
Dealer's payment calculator
- + Uses the dealer's actual current rates and incentives.
- + Includes manufacturer rebates and subvented rates.
- − Often shows the lowest possible payment with longest term.
- − Pressures immediate decision.
Bankrate / NerdWallet
- + Credit-tier based average rates by lender.
- + Compares lenders side by side.
- − Ad-heavy with lead-generation forms.
- − Generic figures, not personalized to the deal.
Who actually uses Auto Loan Calculator?
Five concrete situations pulled from real sessions, with the exact inputs people paste in.
Know the actual monthly payment including all costs.
Enter the negotiated price, down payment, trade-in value, sales tax rate, and the dealer's APR. The calculator returns the monthly payment with everything included — not just the figure the dealer highlights.
Compare total cost across different vehicles and terms.
Run each listing through the calculator with the realistic APR for your credit profile. The tool surfaces the total cost of ownership including interest — not just the sticker price.
See the dollar impact of the financing choice.
Run the calculator twice — once at the dealer's rate, once at the credit union's pre-approved rate. The difference over the loan term is often several hundred dollars.
See the trade-off between monthly payment and total cost."
Run the same loan at 36, 48, 60, and 72 months. The tool shows how each term affects the monthly payment and total interest — useful for finding the right balance.
Quantify the opportunity cost of paying cash.
If you have the cash to buy outright, compare the auto loan's interest cost against the investment return you could earn on that cash. The calculator models both sides.
An auto loan calculator that shows the real monthly cost — not the headline payment
Dealerships advertise the lowest possible payment, usually based on the longest term with the smallest down payment. This tool includes sales tax, fees, down payment, trade-in, and the actual APR to show the real monthly cost. Run the calculator before going to the dealer; you will negotiate from a position of knowledge.
All-in monthly figure, not just P&I
The calculator adds sales tax, fees, and any financed add-ons to the loan principal before computing the payment. The result matches the dealership's payment disclosure line by line.
New, used, refinance, and lease buyout
Adjust the rate for new vs. used car financing (used is typically 1-2 points higher). Refinance scenarios use the same tool with the new rate and remaining balance.
Side-by-side across 36, 48, 60, 72, 84 months
See how term length affects monthly payment and total interest. The shortest term you can afford is the right financial choice; the calculator makes the trade-off explicit.
No signup, no data storage
Run as many scenarios as you want. Inputs are not saved or transmitted.
What you only get here: an auto loan calculator with the same level of detail as the dealership's payment worksheet — without the sales pressure and without sharing your information.