Auto Loan Calculator

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

An Auto Loan Calculator helps you estimate your monthly car payment and the total cost of a car loan. This is crucial for budgeting and understanding the financial commitment before purchasing a vehicle, ensuring you can afford the repayments.

The calculator typically uses the standard amortization formula to determine monthly payments. This formula takes into account the principal loan amount, the annual interest rate, and the loan term (in months) to calculate consistent monthly installments.

Always factor in additional costs like insurance, registration, and maintenance when budgeting for a car, not just the loan payment. Be wary of very long loan terms, as they can lead to paying significantly more in interest over time.

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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