Auto Loan Calculator
Estimate your monthly car payment including trade-in, down payment and sales tax.
How it works
Amount financed = price × (1 + tax) − down − trade-in, then M = P × r ÷ (1 − (1 + r)^−n)
Sales tax is applied to the vehicle price first (in most US states trade-in value reduces the taxable amount — rules vary, so this calculator taxes the full price to stay conservative). The financed amount then amortizes like any fixed loan.
Worked example
A $32,000 car at 7% sales tax costs $34,240. With $4,000 down and no trade-in, you finance $30,240 at 7.5% for 60 months: about $605.94 per month, with roughly $6,116 total interest.
Frequently asked questions
Is a longer term better?
A 72- or 84-month loan lowers the payment but raises total interest and increases the time you owe more than the car is worth. 60 months or less is the usual guidance.
Should tax apply after the trade-in?
Many states tax the price minus trade-in. If yours does, your real payment will be slightly lower than this conservative estimate.
What credit score gets the advertised rates?
The lowest advertised APRs generally require excellent credit (roughly 720+). Average used-car rates run several points higher than new-car rates.
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This is an educational estimate, not financial advice. Lenders use their own rounding, fees and credit terms — confirm exact figures with your lender or a licensed advisor.