Car Loan Calculator

Auto Loan Calculator

Enter a price or a monthly budget. Results update as you type and include your state's sales tax and trade-in rules.

What do you know?
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The negotiated price of the vehicle before rebates, taxes and fees.

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Get pre-approved by a bank or credit union to know your real rate before visiting the dealer.

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Manufacturer or dealer cash back. Some states tax the price before the rebate; pick your state to apply its rule.

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What the dealer will give you for your current car.

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Your current loan balance. If it is more than the trade-in value, the difference gets added to the new loan.

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Picking a state fills in the state rate. Add your county or city rate on top for a closer estimate.

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Doc fee, title, registration, plates and destination charge. Ask the dealer for an out-the-door price to see them all.

Monthly payment

$664.27

for 60 months at 6.5% APR

Vehicle price
$35,000
Amount financed
$33,950
Sales tax
$2,450
Due at signing
$5,000
Total of payments
$39,856
Total interest
$5,906
Total cost of the car
$44,856
Car (after rebates): $35,000Interest: $5,906Tax & fees: $3,950
  • Car (after rebates)$35,00078%
  • Interest$5,90613%
  • Tax & fees$3,9509%

Compare loan terms

Same car, same rate. Longer loans lower the payment but raise the total you pay.

TermMonthlyInterestTotal cost
36 mo (3 yr) $1,040.53 $3,509 $42,459
48 mo (4 yr) $805.12 $4,696 $43,646
60 mo (5 yr) $664.27 $5,906 $44,856
72 mo (6 yr) $570.70 $7,140 $46,090
84 mo (7 yr) $504.14 $8,398 $47,348

Payment schedule

YearPaymentPrincipalInterestBalance
1$7,971.25$5,939.37$2,031.88$28,010.63
2$7,971.25$6,337.14$1,634.11$21,673.49
3$7,971.25$6,761.55$1,209.70$14,911.93
4$7,971.25$7,214.39$756.86$7,697.55
5$7,971.25$7,697.55$273.70$0.00
Show all 60 monthly payments
MonthPaymentPrincipalInterestBalance
1$664.27$480.37$183.90$33,469.63
2$664.27$482.98$181.29$32,986.65
3$664.27$485.59$178.68$32,501.06
4$664.27$488.22$176.05$32,012.83
5$664.27$490.87$173.40$31,521.96
6$664.27$493.53$170.74$31,028.44
7$664.27$496.20$168.07$30,532.24
8$664.27$498.89$165.38$30,033.35
9$664.27$501.59$162.68$29,531.76
10$664.27$504.31$159.96$29,027.45
11$664.27$507.04$157.23$28,520.41
12$664.27$509.79$154.49$28,010.63
13$664.27$512.55$151.72$27,498.08
14$664.27$515.32$148.95$26,982.76
15$664.27$518.11$146.16$26,464.64
16$664.27$520.92$143.35$25,943.72
17$664.27$523.74$140.53$25,419.98
18$664.27$526.58$137.69$24,893.40
19$664.27$529.43$134.84$24,363.97
20$664.27$532.30$131.97$23,831.67
21$664.27$535.18$129.09$23,296.49
22$664.27$538.08$126.19$22,758.41
23$664.27$541.00$123.27$22,217.41
24$664.27$543.93$120.34$21,673.49
25$664.27$546.87$117.40$21,126.61
26$664.27$549.83$114.44$20,576.78
27$664.27$552.81$111.46$20,023.97
28$664.27$555.81$108.46$19,468.16
29$664.27$558.82$105.45$18,909.34
30$664.27$561.85$102.43$18,347.49
31$664.27$564.89$99.38$17,782.61
32$664.27$567.95$96.32$17,214.66
33$664.27$571.02$93.25$16,643.63
34$664.27$574.12$90.15$16,069.52
35$664.27$577.23$87.04$15,492.29
36$664.27$580.35$83.92$14,911.93
37$664.27$583.50$80.77$14,328.44
38$664.27$586.66$77.61$13,741.78
39$664.27$589.84$74.43$13,151.94
40$664.27$593.03$71.24$12,558.91
41$664.27$596.24$68.03$11,962.67
42$664.27$599.47$64.80$11,363.19
43$664.27$602.72$61.55$10,760.47
44$664.27$605.98$58.29$10,154.49
45$664.27$609.27$55.00$9,545.22
46$664.27$612.57$51.70$8,932.65
47$664.27$615.89$48.39$8,316.77
48$664.27$619.22$45.05$7,697.55
49$664.27$622.58$41.70$7,074.97
50$664.27$625.95$38.32$6,449.02
51$664.27$629.34$34.93$5,819.68
52$664.27$632.75$31.52$5,186.94
53$664.27$636.17$28.10$4,550.76
54$664.27$639.62$24.65$3,911.14
55$664.27$643.09$21.19$3,268.06
56$664.27$646.57$17.70$2,621.49
57$664.27$650.07$14.20$1,971.42
58$664.27$653.59$10.68$1,317.82
59$664.27$657.13$7.14$660.69
60$664.27$660.69$3.58$0.00

How this calculator works

The monthly payment uses the standard amortization formula:

Payment = L × r ÷ (1 − (1 + r)−n)

Here L is the amount financed, r is the APR divided by 12, and n is the number of months. At 0% APR the payment is simply L ÷ n.

What goes into the amount financed

Amount financed = car price − cash rebate − down payment − trade-in equity, plus taxes and fees if you roll them into the loan. Trade-in equity is the trade-in value minus what you still owe on it. If you owe more than the car is worth, that negative equity is added to the new loan.

How sales tax is figured

See how your state handles it: car sales tax by state.

“How much car can I afford?” mode

Switch to I know my budget and enter the monthly payment you're comfortable with. The calculator works backward to the highest car price that payment supports after your down payment, trade-in, taxes and fees. A common guideline is 20/4/10: put 20% down, borrow for no more than 4 years, and keep total car costs under 10% of your gross income.

To start from your income instead of a price, use the car affordability calculator.

Is a longer loan worth it?

The comparison table above shows the trade-off. Stretching from 60 to 84 months lowers the payment, but you pay interest for two more years. Lenders often charge a higher rate on long terms too, and you may owe more than the car is worth for much of the loan.

Already have a loan with a high rate? The auto refinance calculator shows whether a new loan would save you money.