Auto Loan Calculator

Calculate your monthly car payment with our auto loan calculator. Includes down payment, trade-in value, and sales tax in the calculation.

Use this calculator Compare all calculators
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$5,000$150,000
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$0$50,000
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$0$50,000
%
0%20%
%
0%12%

Loan Summary

Monthly Payment$628.07
Loan Amount$32,100
Total Interest$5,584.4
Sales Tax$2,100
Total Cost$42,684.4

Cost Breakdown

What this means

  • • Down payment and term are key levers for total cost.
  • • Avoid optimizing only for a lower monthly payment.
Compare repayment structures

Compare next

Most visitors get better outcomes by comparing at least two scenarios.

Loan Payment

Benchmark monthly payment and interest.

Debt Payoff

Integrate auto debt into full debt plan.

Savings Goal

Set next down-payment target.

Auto Loan Cost, Not Just Payment

A low monthly payment can still be expensive overall. Focus on total cost across price, APR, term, tax, down payment, and trade-in.

Vehicle price
APR + term
Down/trade/tax

Before You Sign

Get pre-approved

Know your financing range before dealer talks.

Negotiate out-the-door price

Don’t negotiate only on monthly payment.

Keep terms shorter

48–60 months usually lowers total interest.

Use meaningful down payment

Reduces loan risk and negative equity.

Quick 20/4/10 Check

  • • 20% down payment target
  • • 4 years preferred max term
  • • 10% of gross income for total car costs

Frequently Asked Questions

What is a good interest rate for a car loan?
As a rough guide: excellent credit often sees lower single-digit rates, while fair credit can be much higher. Used-car loans are usually priced above new-car loans. Always compare multiple lenders, especially credit unions.
How long should my car loan be?
Usually 48–60 months is a healthier range. Longer terms lower the monthly bill but increase total interest and keep you upside-down longer.
Should I make a down payment on a car?
Yes. A larger down payment reduces monthly payment, total interest, and negative-equity risk. A common target is ~20% for new and ~10% for used.
Is it better to trade in or sell my old car privately?
Private sale often gets you more money; trade-in is faster and easier, and may lower taxable amount in some states.

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