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Loan Calculators

Auto Loan Calculator

Estimate your monthly car payment with down payment, trade-in value, sales tax, and fees built in.

Sales tax and fees are added before the down payment is applied — the order most dealers actually use.

$
%
$
$
$
%
mo
Monthly car payment
$546
Financing $27,240 over 60 months at 7.5% APR.
Amount financed
$27,240
Total interest
$5,510
Total paid
$32,750
Payments
60 mo
Explain this result

Turn the numbers above into plain-language takeaways. Educational only — not financial advice.

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Save the current inputs under a name, then reload or compare them side by side. Scenarios stay on this device only.

Overview

How the Auto Loan Calculator Works

Dealers love to negotiate around the monthly payment instead of the total cost. This calculator strips that game away. Enter the vehicle price, your down payment and trade-in, the sales tax in your state, and any dealer fees, then see the financed amount, monthly payment, and total interest before you sit down at the F&I desk.

Formula

The Math Behind the Calculator

Financed amount = Vehicle price + Sales tax + Fees − Down payment − Trade-in. Monthly payment uses the standard amortization formula at the loan's APR over the term.

Example

A Worked Example

A $32,000 vehicle with 7% sales tax, $500 in dealer fees, a $4,000 down payment, and a $3,500 trade-in finances $27,240. At 7.5% over 60 months, the payment is about $546 and total interest is roughly $5,531.

How to use

How to Use the Auto Loan Calculator

  1. 1Enter the vehicle price you've agreed to (or the MSRP if you're still shopping).
  2. 2Add your sales tax rate and any dealer documentation fees.
  3. 3Subtract your down payment and trade-in.
  4. 4Use the APR the lender or credit union actually offered you — dealer rates can be inflated.
Interpretation

What the Results Mean

  • Monthly payment is what shows up on your statement, but total interest is the real cost of borrowing.
  • If the term is longer than five years on a used car, you risk being upside down (owing more than the car is worth) for most of the loan.
  • A shorter term with a higher payment usually saves significant interest.
Keep exploring

Smart Next Steps

What to explore next
Avoid

Common Mistakes to Avoid

  • Negotiating only the monthly payment without checking the total price or interest.
  • Stretching to a 72- or 84-month loan to afford a more expensive vehicle.
  • Accepting dealer financing without comparing to a pre-approval from your bank or credit union.
Keep going

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APR includes interest plus fees. Learn why it matters, how lenders compute it, and how to estimate it yourself before signing.

Read guide
FAQ

Frequently Asked Questions

Should I put 20% down on a car?+

It's a useful target. A larger down payment reduces interest and the chance of going underwater if the car depreciates faster than you pay it off.

Are dealer rates negotiable?+

Often yes, especially if you bring a competing offer from a credit union or bank.

Does this include insurance?+

No — insurance varies by driver, vehicle, and state. Get a quote separately and budget for it.

Financial Disclaimer

This calculator is for educational and estimation purposes only. It does not provide financial, mortgage, tax, investment, or legal advice. Actual rates, payments, taxes, fees, insurance costs, eligibility, and loan terms vary by lender, location, credit profile, and market conditions. Always compare official offers and consult a qualified professional before making financial decisions.

Last updated June 2026 · Prepared by the mCalculator Editorial Team