Auto Loan Calculator
Estimate your monthly car payment, amount financed, total interest and total repayment from vehicle price, down payment, trade-in, APR and term.
How to Use
- Enter the vehicle's price, and your down payment and trade-in value if you have either (both default to 0).
- If you know the sales tax and fees you'll be charged, enter that as a single flat dollar amount — leave it at 0 to see just the vehicle financing on its own.
- Enter the APR your lender is quoting and the loan term in months (e.g. 60 for a 5-year loan).
- The result shows the amount actually financed, your estimated monthly payment, total interest, and total repayment.
Formula
- Amount financed
- financed = vehicle_price − down_payment − trade_in_value + taxes_and_fees
- Monthly rate
- monthly_rate = APR ÷ 100 ÷ 12
- Monthly payment
- payment = financed × monthly_rate ÷ (1 − (1 + monthly_rate)^−months)
- Total repayment
- total_repayment = payment × months
- Total interest
- total_interest = total_repayment − financed
Worked Example
A $30,000 vehicle, $3,000 down, a $2,000 trade-in, $1,500 in taxes/fees, 7% APR, 60-month term.
- Amount financed: $30,000 − $3,000 − $2,000 + $1,500 = $26,500
- Monthly rate: 7 ÷ 100 ÷ 12 ≈ 0.005833
- Monthly payment: $26,500 × 0.005833 ÷ (1 − 1.005833⁻⁶⁰) ≈ $524.73
- Total repayment: $524.73 × 60 ≈ $31,483.91
- Total interest: $31,483.91 − $26,500 ≈ $4,983.91
Result: Amount financed: $26,500.00 / Estimated monthly payment: $524.73 / Total interest: $4,983.91 / Total repayment: $31,483.91
About This Tool
What this tool does
This calculator estimates the amount you'd actually finance on a vehicle purchase — after your down payment and trade-in — and the resulting monthly payment, total interest, and total repayment over the loan term.
When to use it
Use it to compare how a trade-in or larger down payment changes your monthly payment, or to estimate financing costs before visiting a dealership.
What the result means
The amount financed accounts for your down payment and trade-in reducing what you borrow, and any taxes/fees you entered increasing it. Total interest and total repayment show the full cost of financing over the entire term, not just the monthly payment.
Assumptions & limitations
Taxes and fees are entered as a single flat dollar amount that you provide, rather than a calculated rate — sales tax treatment of a trade-in credit varies significantly by state (some states tax the full vehicle price, others only tax the price minus the trade-in), so this tool does not attempt to encode any state's specific rule; enter the actual taxes and fees quoted to you, or leave it at 0 to see financing on the vehicle price alone. This is an estimate only, not a financing offer, credit approval, or financing advice — a dealer's or lender's actual quote may differ due to their specific fees, add-ons, or underwriting.