Auto Loan Calculator

Estimate your monthly car payment before you visit a dealer or lender. Enter vehicle price, down payment, trade-in value, sales tax, fees, APR, loan term, optional balloon payment, and extra monthly payments to see the real financing cost.

Monthly payment formula
Payment = financed amount × monthly rate / (1 - (1 + monthly rate)^-term)

Calculate Car Payment

Instant estimate
$
Use the negotiated price before down payment and trade-in.
$
$
%
$
%
Enter the annual percentage rate from your lender quote.
$
Optional amount paid on top of the required monthly payment.
$
Optional balance left for the final payment or refinance.
Try a common scenario:

Your Auto Loan Estimate

Monthly payment
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Required payment before any optional extra amount.

Amount financed
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Vehicle price plus tax and fees, minus down payment and trade-in.

Total interest
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Estimated interest paid over the schedule.

Payoff time
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Months until the loan is paid off with extra payments included.

Enter a vehicle price, APR, and loan term to calculate your monthly payment.

Cost Breakdown

Vehicle price -
Estimated sales tax -
Fees -
Down payment -
Trade-in credit -
Balloon payment -
Total paid to lender -
Interest saved with extra payments -

First-Year Amortization Preview

Month Payment Principal Interest Balance

Auto Loan Examples

Use these examples to compare a used car loan, a new car loan, extra monthly payments, and a balloon finance plan.

Used car with 48-month loan

Estimate a smaller used car loan with a trade-in credit, modest fees, and a shorter payoff period.

New car with 60-month loan

Compare a typical new vehicle purchase with sales tax, down payment, trade-in, and dealership fees.

Pay off an auto loan early

Add an extra monthly payment to see how many months and how much interest you can save.

Balloon car finance plan

Model a lower monthly payment when part of the balance is left as a final balloon payment.

Guide

How to Use the Auto Loan Calculator

1

Enter the vehicle price

Use the negotiated price of the car, truck, SUV, or van before any down payment or trade-in credit.

2

Add taxes, fees, and credits

Include sales tax, registration fees, dealer fees, down payment, and trade-in value so the financed amount is realistic.

3

Set APR and loan term

Enter the APR from a bank, credit union, dealer, or online lender quote, then choose the loan length in months.

4

Compare payoff options

Try extra monthly payments, shorter terms, or a balloon payment to see the effect on payment size and total interest.

Auto Loan Payment Formula

A car payment calculator starts with the amount financed, then applies fixed-rate amortization. The estimate is useful for comparing lender quotes before you sign, but it is not a lender approval or final contract.

Amount financed

Amount financed = vehicle price + sales tax + fees - down payment - trade-in value.

This tool taxes the vehicle price before credits because many jurisdictions calculate sales tax that way. Your state, province, or dealer may handle trade-in tax credits differently, so use the result as a planning estimate.

  • Vehicle price should be the negotiated purchase price, not the advertised payment.
  • Fees can include registration, title, documentation, destination, and dealer fees.
  • Down payment and trade-in reduce the amount you need to borrow.

Monthly payment

For a fixed-rate loan, monthly payment = principal × monthly rate / (1 - (1 + monthly rate)^-months).

If you enter a balloon payment, the calculator discounts that future balance and computes the payment required for the remaining financed amount.

Extra payment and early payoff

An extra monthly payment reduces principal faster. The schedule recalculates interest month by month so you can estimate payoff time and interest savings.

Before relying on an early payoff plan, check your loan agreement for prepayment penalties, payment allocation rules, and whether extra payments are applied to principal.

Common Loan Terms

36 months Higher payment, less interest
60 months Common middle option
72 months Lower payment, more interest
84 months Highest long-term interest risk

Car Finance Details to Check

Small differences in tax rules, add-ons, and lender policies can change the final monthly payment.

Trade-in tax credits

Some places tax the full vehicle price, while others tax only the price after trade-in. Adjust the sales tax field if your quote uses a different rule.

Dealer add-ons

Extended warranties, GAP coverage, service contracts, and accessories can raise the financed amount if they are rolled into the loan.

Balloon risk

A balloon payment can lower the monthly payment but leaves a large final balance that may require cash, refinance, or vehicle sale.

Long loan terms

A 72- or 84-month auto loan may fit a monthly budget but can increase total interest and negative equity risk.

Auto Loan Calculator FAQ

Answers to common car payment, car finance, and auto loan amortization questions.

Enter the vehicle price, down payment, trade-in value, taxes, fees, APR, and loan term. The calculator estimates the amount financed and applies fixed-rate amortization to show the monthly payment.

Yes. This auto loan calculator can also be used as a car finance calculator because it estimates repayments from purchase price, deposit or down payment, interest rate, term, fees, and optional balloon payment.

Yes, include them if they will be financed. Leaving taxes and fees out can make the payment estimate look lower than the lender quote.

Extra payments reduce principal faster, which can shorten the payoff time and reduce interest. The savings depend on APR, loan balance, and whether your lender applies the extra amount to principal.

A longer term spreads principal over more months. The payment may be lower, but the balance stays outstanding longer, so interest has more time to accumulate.

Yes. Enter the planned balloon amount to estimate a lower regular payment with a final balance remaining at the end of the term.

Compare the Real Cost Before You Apply

Change the APR, loan term, down payment, and extra payment to see which auto loan structure fits your budget.

Calculate Auto Loan