Car Loan Calculator
Monthly payment with down payment, trade-in & tax
Work out your real car payment. Enter the price plus your down payment, trade-in, sales tax, rate and term to see the monthly payment and what the loan truly costs.
What actually gets financed
You finance the price plus sales tax, minus your down payment and trade-in. A bigger down payment or shorter term lowers total interest. Today's new-car APRs hover around 7%, and terms run 36–84 months.
Watch the term, not just the payment
Dealers often quote a low monthly payment by stretching the loan to 72 or 84 months — which quietly raises the total interest and keeps you "underwater" (owing more than the car is worth) for years. Compare loans by total cost and pick the shortest term whose payment you can comfortably afford.
Get pre-approved first
A pre-approval from your bank or credit union gives you a real rate to beat and turns you into a cash buyer at the dealer. Negotiate the out-the-door price, not the monthly payment, and keep financing separate from the price so add-ons and rate markups can't hide in one number.
Car Loan Calculator: frequently asked questions
How is a car payment calculated?
The amount financed (price + tax − down − trade-in) is amortized over your term at your APR.
Is a longer car loan bad?
Lower monthly payments, but you pay more total interest and risk owing more than the car is worth.
How much should I put down on a car?
A common target is 20% down on a new car and 10% on a used one. A larger down payment lowers your payment and total interest and helps you avoid owing more than the car is worth as it depreciates.