Auto Loan Calculator

Calculate monthly car payments with trade-in and sales tax. Compare loan terms from 36 to 84 months.

By Konstantin Iakovlev · Updated April 2026 · Source: CFPB — Consumer Tools

$
$
$
%
Loan Term

Monthly Payment

$430.46

Total Interest

$3,827.32

Total Cost

$30,827.32

Loan Breakdown

Vehicle Price$25,000.00
Sales Tax$1,500.00
Title & Registration$500.00
Total Vehicle Cost$27,000.00
Down Payment$5,000.00
Trade-in Value$0.00
Loan Amount$22,000.00
Loan Term60 months
Monthly Payment$430.46
Total Interest Paid$3,827.32
Total Amount Paid$25,827.32

Use the Auto Loan Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.

Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.

How It Works

Before signing for a vehicle, it helps to know exactly what the monthly payment and the full cost of financing will be. Entering the loan details here gives you both figures, so you can see the size of the commitment up front and confirm the repayments fit your budget rather than discovering the strain later.

The estimate runs on the standard amortization formula used by lenders. It combines the principal loan amount, the annual interest rate, and the loan term in months to produce a fixed monthly installment that pays the balance down to zero by the end of the term.

Budget for the whole picture, not just the loan: insurance, registration, and maintenance all add to what a car really costs to own. It's also worth being cautious with very long terms — stretching the loan lowers the monthly payment but quietly pushes the total interest you pay much higher.

Example: Buying a $25,000 Car

  1. 1 Input a loan amount of $25,000, an annual interest rate of 5%, and a loan term of 60 months (5 years).
  2. 2 The calculator applies the amortization formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1], where M is monthly payment, P is principal, i is monthly interest rate (annual rate / 12), and n is total number of payments.
  3. 3 Your estimated monthly payment would be approximately $471.78, and the total interest paid over the loan term would be around $3,306.80.
  4. 4 This means you'd pay a total of $28,306.80 for the $25,000 car over five years. This information empowers you to compare different loan offers and make an informed decision.

Source: CFPB — Consumer Tools · Last updated: April 2026

Frequently Asked Questions

What is a good interest rate for a car loan in 2026?
Good rates in 2026 range from 5.5-7% for new cars and 7-9% for used cars with good credit (700+). Excellent credit (750+) can qualify for rates 1-2% lower. Rates above 10% are considered high.
Should I choose a 60-month or 72-month car loan?
A 60-month loan has higher monthly payments but saves thousands in interest. A 72-month loan lowers the payment but costs significantly more overall and risks being underwater on the loan longer.
How does a trade-in affect my car loan?
Your trade-in value is subtracted from the purchase price before financing. If you owe more on your trade-in than it is worth (negative equity), the difference is typically added to your new loan balance.

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