Auto loan calculator

Monthly car payment

$726.98

Total$726.98
Amount financed
$36,280
Sales tax
$2,280
Total interest
$7,339
Total cost of the loan
$47,619

Insurance, registration and maintenance sit on top of this payment. Terms beyond 60 months usually mean owing more than the car is worth for years.

Budget the insurance too, not just the payment

The loan payment is half the cost of the car. Get auto insurance quotes for the vehicle before you sign anything.

Compare auto insurance

Takes about a minute. We match you with vetted pros in your area.

The short answer

This auto loan calculator estimates the monthly car payment from the vehicle price, your down payment, any trade-in, the sales tax rate, the APR and the term. It also shows the amount financed and the total interest, so you can compare a lower payment against a longer, more expensive loan.

Methodology

The research behind this calculator

Most people accept the first number they are given. Auto loan calculator runs on live Federal Reserve series, state and county cost data, and published lender pricing rules — so the output reflects where you actually live, not a national average.

50states with local tax and cost inputs
4,250banks and credit unions tracked
8,692Federal Reserve rate observations
3,222US counties in our cost dataset

Term length is the trap

Dealers negotiate on the monthly payment because stretching the term always makes it look smaller. Moving a $34,000 loan at 7.5% from 60 to 84 months cuts the payment by about $150 but adds roughly $3,900 in interest.

What moves your auto loan APR

  • Credit score — the gap between prime and subprime pricing is routinely 8 to 12 percentage points.

  • New versus used — used-car APRs typically run 2 to 4 points higher.

  • Term — 72- and 84-month loans price above 48- and 60-month loans.

  • Loan-to-value — a bigger down payment usually unlocks a better tier.

Budget the whole cost, not the payment

Insurance, registration, fuel and maintenance often add 40% to 60% on top of the loan payment. Get an insurance quote for the exact vehicle before you sign — premiums vary enormously between models with similar sticker prices.

The formula

Amount financed = price + sales tax − down payment − trade-in. Payment = A × [r(1 + r)^n] ÷ [(1 + r)^n − 1], where r = APR ÷ 12 and n = term in months.

FAQ

Compare strategies with the debt payoff calculator

The debt snowball method directs additional money to the smallest balance while maintaining required payments on every other debt. After one balance is paid, its payment moves to the next balance. The debt avalanche instead targets the highest interest rate first. If all payments and rates remain the same, the avalanche generally minimizes interest, while the snowball organizes repayment around completing smaller balances sooner.

Enter each balance, annual interest rate, minimum payment, and any additional monthly amount. A credit card payoff calculator may produce different results if a card uses variable rates, daily interest, fees, or promotional terms. Confirm whether a loan payoff calculator assumes payments occur monthly and whether additional amounts are applied directly to principal. Continue making at least required payments on time, regardless of the payoff order selected.

Common questions

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