Auto Loan Calculator

Calculate monthly car payments, total interest, and view an amortization schedule with early payoff options.

Vehicle Price

Down Payment

Trade-In Value

Sales Tax (%)

Applied to the price after trade-in and financed with the loan

Interest Rate (%)

Loan Term

Extra Monthly Payment

Monthly Payment

$477.53

Loan Amount

$25,000.00

Total Interest

$3,651.74

Total Loan Cost

$28,651.74

Payoff

60 months

Amortization Schedule

Month	Payment	Principal	Interest	Extra	Balance
1	$477.53	$362.95	$114.58	-	$24,637.05
2	$477.53	$364.61	$112.92	-	$24,272.45
3	$477.53	$366.28	$111.25	-	$23,906.16
4	$477.53	$367.96	$109.57	-	$23,538.21
5	$477.53	$369.65	$107.88	-	$23,168.56
6	$477.53	$371.34	$106.19	-	$22,797.22
7	$477.53	$373.04	$104.49	-	$22,424.18
8	$477.53	$374.75	$102.78	-	$22,049.43
9	$477.53	$376.47	$101.06	-	$21,672.96
10	$477.53	$378.19	$99.33	-	$21,294.76
11	$477.53	$379.93	$97.60	-	$20,914.83
12	$477.53	$381.67	$95.86	-	$20,533.17

Example

Input: $30,000 car, $5,000 down, no trade-in, 7% sales tax, 5.5% interest for 60 months

Result: Monthly Payment $517.64, Loan Amount $27,100.00, Total Interest $3,958.49

The $2,100 tax is financed: 30,000 + 2,100 - 5,000 = $27,100, amortized over 60 months at 5.5%/12 per month = $517.64.

Payment and Interest by Term on a $30,000 Car Loan

Term	Monthly Payment	Total Interest
24 months	$1,329.62	$1,910.84
36 months	$912.66	$2,855.69
48 months	$704.55	$3,818.44
60 months	$579.98	$4,799.04
72 months	$497.19	$5,797.44
84 months	$438.26	$6,813.56

Loan amount of $30,000 at 6% APR, with no extra payments.

Enter the vehicle price and your down payment amount.
Set the auto loan interest rate (APR) and loan term in months.
Optionally add a trade-in value and your sales tax rate (taxed on the price after trade-in).
View the monthly payment, loan amount, total interest paid, and total loan cost.
Enter an extra monthly payment to see how many months early you pay off and the interest saved, then review the amortization schedule.

Working Out a Monthly Car Payment

A car payment depends on how much you borrow, the interest rate and the loan term. Buy a $30,000 car with $5,000 down and 7% sales tax, and you borrow $27,100. At 5.5% over 60 months, that costs $517.64 a month and $3,958.49 in total interest.

Enter the vehicle price, your down payment, any trade-in value and the sales tax rate. Then pick an interest rate and a term from 24 to 84 months. The tool adds the sales tax to the loan and taxes the price after the trade-in, as most US states do. You get the monthly payment, the loan amount, the total interest and the total loan cost. A full schedule lists every payment.

The extra payment field shows what paying a little more each month is worth. Every extra dollar goes straight to the principal. The tool then shows how many months sooner you finish and how much interest you save.

The term is the biggest trade-off. The table below shows a $30,000 loan at 6%. Stretching it from 48 to 84 months cuts the payment by about $266 a month. The cost is about $3,000 more in interest. Long loans also make it more likely you will owe more than the car is worth for a while, since cars lose value quickly.

The numbers here leave out dealer fees, registration and add-ons, which can raise the real amount financed. Ask the lender for the full loan terms and APR in writing, and compare them with this result. For other loans, use the Loan and EMI Calculator.

Sources

CFPB - What is amortization and how could it affect my auto loan?

Frequently Asked Questions

The tool first finds the loan amount: price plus sales tax, minus the down payment and trade-in. It then applies the standard loan formula with a monthly rate (the yearly rate / 12) over the number of months. Each payment covers that month's interest and pays down part of the balance.

It lowers the monthly payment but raises the total cost. On $30,000 at 6%, an 84-month loan costs about $6,814 in interest, against $3,818 over 48 months. Long terms also raise the chance of owing more than the car is worth. Choose the shortest term you can comfortably afford.

A larger down payment means a smaller loan, lower payments and less interest. It also lowers the risk of owing more than the car is worth. There is no fixed rule, so weigh it against keeping enough savings for emergencies. Enter different amounts here to compare.

In this tool, yes. The tax is added to the loan, so you pay interest on it too. It is charged on the price after the trade-in value, which is how most US states handle it. Paying the tax up front instead would lower the amount you borrow.

Extra payments go straight to the principal, so less interest builds up. Enter an amount in the extra payment field to see how many months sooner you finish and the interest you save. Check first that your lender applies extra payments to principal and does not charge a prepayment fee.

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