CalcMyFin

Loans & Debt

Auto Loan Calculator

See what a car will really cost each month. Enter the price, your trade-in and down payment, sales tax and fees, and compare loan terms to find a payment that fits your budget.

  • Free, no sign-up
  • Private: runs in your browser
  • Updated September 2026

Car and loan details

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How to use the auto loan calculator

  1. Enter the vehicle price and the value of any trade-in.
  2. Add your cash down payment.
  3. Enter your state's sales tax rate and any dealer or registration fees you plan to finance.
  4. Add the APR and choose a term in months (36, 48, 60 and 72 are common).

How it's calculated

The amount financed is: price − trade-in − down payment + sales tax + fees. Sales tax is applied to the price minus the trade-in, which is how most states handle it (a few states tax the full price). The monthly payment then uses the standard amortization formula for the APR and number of months you choose.

Example

A $35,000 car with a $5,000 trade-in, $3,000 down, 6% sales tax and $800 in fees means financing about $29,600. At 7% APR for 60 months, the payment is $586.12, with roughly $5,567 in interest.

Tips

  • Get pre-approved by a bank or credit union before visiting the dealer so you can compare their offer.
  • Longer terms lower the payment but add interest, and you may owe more than the car is worth for longer.
  • Negotiate the car's price first, then the financing and trade-in separately.
  • Many planners suggest keeping total car costs, including insurance and fuel, well under 15% of take-home pay.

Frequently asked questions

Is sales tax included in my car loan?
It can be. Many buyers roll sales tax and fees into the loan, which this calculator assumes. If you pay them in cash, set the fees to zero and add the tax amount to your down payment instead.
What's a good loan term for a car?
Shorter is cheaper. A 36–60 month loan keeps interest lower and helps you avoid negative equity. 72- and 84-month loans reduce the payment but can cost thousands more. Compare terms above.
Does my trade-in reduce sales tax?
In most states, yes: sales tax is charged on the price minus your trade-in value. A handful of states tax the full purchase price. Check your state's rules.
How can I get a lower car payment?
Put more money down, choose a less expensive car, improve your credit score before applying, shop rates with multiple lenders, or pick a slightly longer term (knowing you'll pay more interest).
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Sources

This calculator provides educational estimates only and is not financial, tax, legal or investment advice. Results depend on the assumptions you enter; actual terms from lenders, insurers and tax authorities may differ.