An auto loan calculator estimates your monthly car payment and total loan cost, accounting for your down payment, trade-in value, taxes, and fees in addition to the loan amount, term, and rate.
MSRP or negotiated price before taxes.
Cash paid upfront. A common target is 20% new, 10% used.
Depends heavily on your credit score and new vs. used.
Commonly 24 to 84 months.
Estimated value of your current vehicle.
Remaining loan balance on the vehicle you're trading in.
Leave at 0 if using an out-the-door price.
Optional, for a more precise total cost.
60 monthly payments on a $30,000 loan · paid off October 2031.
These results are estimates, not predictions. They're calculated from the figures you entered and assume your rate of return and inflation rate hold steady every year, which real markets don't do. Change any input and the result changes. Use this to compare scenarios, not to plan around a specific number.
Enter the vehicle price, down payment, interest rate, loan term, trade-in value, and any amount still owed on a trade-in. You can also add sales tax and fees for a more precise estimate. The calculator shows your monthly payment, loan amount, total interest cost, payoff date, and a full amortization schedule.
Price of vehicle is the MSRP or negotiated price before taxes for a new car, or the asking or negotiated price for a used one.
Down payment is the cash you pay upfront. A common target is 20% for a new car and 10% for a used one.
Interest rate depends heavily on your credit score and whether you're financing a new or used vehicle.
Loan term is how long you'll take to repay the loan, commonly 24 to 84 months. Longer terms lower your monthly payment but increase total interest paid.
Trade-in value is what a dealer or online valuation tool estimates your current vehicle is worth. Amount owed is any remaining loan balance on that vehicle, which reduces how much trade-in equity you actually have available.
Sales tax and fees, including title and registration, are optional inputs that provide a more precise total cost, unless you're using an out-the-door price that already includes them.
Rates vary widely by credit tier. Recent data shows new-car loan APRs ranging from roughly 4.5% to 4.9% for superprime credit down to 13% to 16% for deep subprime credit, with used-car rates running several points higher at every tier.
A shorter term saves money on interest even with a slightly higher rate. For example, a $30,000 loan at 7.02% over 48 months costs about $4,496 in total interest, compared to roughly $5,591 over 60 months at a marginally lower 6.94% rate.
A fiduciary financial advisor can help you weigh a car purchase against your other savings goals and debt obligations. Matching with an advisor is free and comes with no pressure to commit.
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