Car loan calculator
Work out your monthly car payment and total cost, including your down payment, trade-in, sales tax and fees.
Monthly payment
- Amount financed
- Sales tax
- Total interest
- Total cost
Estimates only, for illustration.
How this calculator works
Enter the car's price, your down payment, any trade-in value, your state's sales tax rate, fees, the APR and the loan term.
The calculator works out the amount financed: the price plus tax and fees, minus your down payment and trade-in. It then uses the standard loan formula to find your monthly payment, total interest and the total you'll pay for the car.
Tips
- Fees can include documentation, title and registration. Ask the dealer for an out-the-door price.
- Compare the total cost, not just the monthly payment. A longer term can make an expensive car look affordable.
- Check your trade-in value with several sources before you visit the dealer.
- Add insurance, fuel and maintenance to see what the car really costs each month.
Common questions
In most states, sales tax is charged on the price minus your trade-in, which saves you money. A few states tax the full price. Turn the trade-in option off if that applies where you live.
Shorter is cheaper. Longer loans of 72 or 84 months lower the payment but cost much more interest, and you may owe more than the car is worth for years. Many experts suggest 60 months or less.
Get preapproved by a bank or credit union first, so you know what rate you qualify for. Then let the dealer try to beat it. Negotiate the car's price before you talk about financing.