Auto Loan Calculator
Free auto loan calculator with trade-in value, down payment, sales tax, and total cost of ownership. Unbiased — we don't push you to any dealer or lender.
Monthly Payment
$0
Total Interest
$0
Total Cost
$0
Interest Saved (Shorter Term)
$0
$
$5K$100K
% ($7,000)
0%50%
$
$0$50K
%
0%25%
%
0%15%
Loan Balance Over Time
Formula Used
Monthly Payment = (P - D - T) × [r(1+r)^n] / [(1+r)^n - 1]
Where:
P = Vehicle price
D = Down payment + Trade-in value
T = Trade-in tax credit (varies by state)
r = Monthly interest rate
n = Loan term in months
Total Interest = (Monthly Payment × n) - (P - D - T)
How This Auto Loan Calculator Works
Our auto loan calculator uses the standard amortization formula to give you accurate monthly payment estimates. Unlike dealer calculators, we don't bias results toward any financing option.
What’s Included
- Vehicle price, down payment, and trade-in: See your actual loan amount after all credits
- Sales tax: Calculated on (Price - Trade-in) in most states
- Term comparison: Toggle between 36, 48, 60, 72, and 84-month terms to see total interest differences
- Visual payoff timeline: Chart shows how your balance decreases over the loan
The True Cost of Longer Terms
On a $35,000 car at 6.5% APR:
- 36 months: ~$1,800 in interest
- 60 months: ~$3,100 in interest
- 84 months: ~$4,500 in interest
Longer terms lower your monthly payment but dramatically increase total interest. You may also end up “underwater” — owing more than the car is worth.
Frequently Asked Questions
How do I calculate my monthly auto loan payment?
Your monthly auto loan payment is calculated using the amortization formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the amount financed (vehicle price + sales tax - down payment - trade-in), r is your monthly interest rate (APR ÷ 12), and n is your loan term in months. Use CalcDeck's free auto loan calculator above to get instant results with sliders for every variable.
What is a good APR for an auto loan in 2026?
As of 2026, a good APR for a new car loan ranges from 5% to 8% for borrowers with excellent credit (720+), while used car loans typically carry rates 1-3% higher. Rates vary by lender, loan term, and credit score. Shorter terms (36-48 months) usually get the best rates. Check current rates with multiple lenders — even a 0.5% difference can save you hundreds over the life of the loan.
Should I put 20% down on a car?
Putting 20% down on a new car (or 10% on used) helps you avoid being 'upside down' on your loan — owing more than the car is worth. A larger down payment also reduces your monthly payment, qualifies you for better interest rates, and saves thousands in total interest. CalcDeck's auto loan calculator shows exactly how much interest you'll save with different down payment amounts.
How does my loan term affect total interest paid?
Longer loan terms mean lower monthly payments but significantly more total interest. For example, a $35,000 auto loan at 6% APR costs $4,056 in interest on a 36-month term versus $8,996 on a 72-month term — more than double the interest. Use CalcDeck's term comparison buttons to toggle between 36, 48, 60, 72, and 84-month terms and see the real cost difference instantly.
Does sales tax get included in an auto loan?
Yes, auto loan lenders typically allow you to finance sales tax along with the vehicle purchase price and fees. Your sales tax rate depends on your state and can range from 0% to over 10%. In many states, sales tax is calculated on the vehicle price minus your trade-in value. CalcDeck's calculator includes a sales tax slider so you can model your exact out-the-door cost.
What's the difference between buying and leasing a car?
When you buy, you own the vehicle and build equity over time. When you lease, you're essentially renting for 2-3 years with lower monthly payments but no ownership at the end. Leasing is cheaper month-to-month but buying is typically cheaper over the long run if you keep the car for 5+ years. Run the numbers with CalcDeck's auto loan calculator to compare total costs for your situation.