Auto Loan Calculator

About Auto Loan Calculator

This auto loan calculator estimates your monthly car payment, total interest, and total cost of a vehicle loan. Enter the vehicle price, trade-in value, down payment, annual interest rate, and a loan term from 24 to 84 months. An optional Taxes & Fees panel adds a sales tax rate and dealer fee to the amount financed. Results include the financed amount, loan-to-value (LTV) ratio, a principal vs. interest chart, and a year-by-year amortization schedule. Car buyers use it to compare loan terms and down payment options before visiting a dealer or applying for financing.

How to use

1. Set Vehicle Price, Trade-in Value, Down Payment and Interest Rate (Annual) by typing or pasting a number (such as $35,000) or dragging each slider.
2. Choose a Loan Term from 24 to 84 months in the dropdown.
3. Click Taxes & Fees to add a Sales Tax Rate and Dealer Fee, then click Done to apply them.
4. Read the Monthly Payment, Financed Amount, LTV Ratio, Total Interest Paid and Total Cost of Loan, plus the principal versus interest chart.
5. Click Amortization Schedule to see a year-by-year table of principal, interest and remaining balance.
6. Click Copy Results to copy a text summary of the loan.
7. Click Reset to restore every input, including taxes and fees, to its default.

Limitations & notes

• Sales tax is applied to the full vehicle price before the trade-in is subtracted, and dealer fees are not taxed.
• Sales tax and dealer fees default to 0 and are set under Taxes & Fees, so the default payment excludes them.
• Assumes a fixed rate with equal monthly payments; negative equity on a trade-in, rebates and registration fees are not separate inputs.
• When the trade-in and down payment cover the price, tax and fees, a note explains that nothing is financed and the payment is $0.
• Typed values apply on Enter or when leaving the field and are clamped to the slider range, such as a $200,000 vehicle price maximum; dollar signs, commas and % signs are ignored.
• Results are estimates, not financial advice; lender terms and APR fees may differ.

FAQ

How is a monthly car payment calculated?

The calculator uses the standard amortization formula M = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the amount financed, r is the annual interest rate divided by 12, and n is the number of months. The amount financed is the vehicle price plus sales tax and dealer fees, minus your trade-in and down payment.

What is APR, and which rate should I enter?

APR (annual percentage rate) is the yearly cost of borrowing, including the interest rate and certain lender fees. This calculator treats the number you enter as an annual interest rate, so use the rate from your loan offer; results are estimates only, not financial advice, and your lender’s figures may differ.

Is sales tax calculated before or after the trade-in?

Here, sales tax is calculated on the full vehicle price, and the trade-in value is subtracted afterward. Some states tax only the price after the trade-in credit, so your actual tax may be lower.

What does LTV ratio mean for a car loan?

Loan-to-value (LTV) is the amount financed divided by the vehicle price, shown as a percentage. An LTV above 100% means you are borrowing more than the car’s price, which can happen when taxes and fees are financed with little money down.

Does a longer loan term lower my car payment?

A longer term such as 72 or 84 months lowers the monthly payment but increases the total interest you pay. Switch the loan term in the calculator to see how both numbers change.