Amount financed
The calculator subtracts your down payment and trade-in, then adds estimated sales tax.
Finance calculators
Auto Loan Calculator
Estimate monthly auto loan payments with sales tax, down payment, trade-in, APR, and loan term.
Complete guide
How to use Auto Loan Calculator
Use the Auto Loan Calculator to estimate the amount financed, monthly payment, total loan payments, and interest for a car purchase. Enter the vehicle price, your down payment, any trade-in value, sales tax rate, APR, and loan term.
Monthly payment
Payments use the standard amortized loan formula for fixed-rate auto loans.
Total interest
Compare terms and APRs to see how longer loans can lower payments but raise interest.
Answers
Auto Loan Calculator FAQs
What is included in the auto loan payment?
The estimate includes principal, interest, and estimated sales tax in the financed amount.
Does this include insurance or registration?
No. Insurance, registration, dealer fees, and maintenance are separate costs.
Is a longer auto loan term better?
A longer term can reduce the monthly payment, but it usually increases total interest.
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Methodology and examples
Auto Loan Calculator - Free Online Tool: formula, example, and use cases
Maintained by FormatNest. See the methodology, assumptions and sources below.
Formula or method
Fixed-payment loans use M = P × r(1 + r)^n / ((1 + r)^n - 1), where P is principal, r is the periodic interest rate, and n is the number of payments.
Worked example
Example: use Auto Loan Calculator - Free Online Tool with a $25,000 balance, 8% APR, and a 60-month term to compare monthly payment and total interest.
Best use cases
Use Auto Loan Calculator - Free Online Tool for planning, comparison, and what-if scenarios before confirming figures with a lender, tax professional, or financial adviser.
Important: For educational planning only. Rates, tax rules, fees, and eligibility vary; confirm important decisions with a qualified professional.
Editorial note: Review the input definitions, units and assumptions before relying on results. Source: Consumer Financial Protection Bureau home-loan guidance.