Auto Loan Calculator
FinanceCalculate your monthly car payment, including sales tax, title and registration fees, down payment, trade-in value, and any negative equity rolled into the loan.
Monthly Payment
Your monthly car payment, including financed sales tax and fees
Amount Financed
$30,000.00
The total loan principal, after down payment and trade-in, including any negative equity, fees, and financed sales tax
Total Interest
$5,219.07
Interest paid over the loan term
Total Paid
$40,219.07
Total out-of-pocket cost, all monthly payments plus your down payment
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Finance calculators
This calculator finds your monthly car payment, the total amount financed, total interest, and total cost of an auto loan, including sales tax and fees rolled into the loan, which most auto loan calculators leave out despite it being one of the largest single line items in a real car purchase.
Enter the vehicle price, your down payment, and your trade-in value if you have one. If you still owe money on the vehicle you're trading in, enter that separately as Amount Owed on Trade-In, this negative equity gets added to your new loan rather than silently ignored. Enter your state's sales tax rate and any title, registration, or other fees, and this calculator finances them into the loan alongside the vehicle price, matching how most dealers actually structure the paperwork.
The exact formula, how sales tax is calculated on a trade-in, and answers to common auto loan questions are below.
How the monthly payment is calculated
The amount financed is the vehicle price, minus your down payment and trade-in value, plus any negative equity, fees, and sales tax. That amount is then run through the standard loan amortization formula, spreading it evenly across your loan term at your APR. For a $35,000 vehicle with a $5,000 down payment and no trade-in, tax, or fees, financed at 6.5% APR over 60 months, the amount financed is $30,000 and the monthly payment is $586.98.
For a general-purpose version of this same amortization math, see the Loan Calculator for when you already know your exact loan amount rather than working from a vehicle price.
How sales tax is calculated on a trade-in
In most US states, sales tax on a car purchase is calculated on the vehicle price minus your trade-in value, not the full vehicle price, since the trade-in reduces the taxable amount. This calculator uses that majority convention: tax equals your Sales Tax Rate times (Vehicle Price minus Trade-In Value). A few states, including California, tax the full vehicle price regardless of trade-in, so check your own state's rule before relying on this figure for an exact number.
Worked example with tax, fees, and negative equity
Same $35,000 vehicle, $5,000 down payment, but now with a $3,000 trade-in on which you still owe $2,000, a 6% sales tax rate, and $500 in fees. Amount financed: $35,000 minus $5,000 minus $3,000, plus $2,000 negative equity, plus $500 fees, plus 6% of $32,000 (the vehicle price minus trade-in) which is $1,920 in tax, equals $31,420 financed. At the same 6.5% APR over 60 months, the monthly payment comes to $614.77, about $28 more per month than the version with no tax, fees, or negative equity.
Does a longer loan term actually cost more
Yes, a longer term lowers the monthly payment but increases total interest paid, since you're financing the same amount over more months at the same rate. Extending the $30,000 default example from 60 to 72 months drops the payment from $586.98 to about $504 a month, but raises total interest paid from $5,219 to $6,309, about $1,090 more over the life of the loan. If you're deciding between a new purchase and refinancing an existing loan for a lower rate instead, see the Refinance Calculator for Auto Loan.
Frequently Asked Questions
What APR should I expect on a car loan?
APR depends on your credit score, loan term, and lender. Excellent credit (750+) typically qualifies for 5-7%, while fair credit may see 10-15% or higher.
Should I put more money down on a car?
A larger down payment reduces your monthly payment and total interest paid. It also reduces the risk of being underwater on the loan, owing more than the car is worth.
Is a longer loan term better?
A longer term lowers monthly payments but significantly increases total interest paid. A 72-month loan on a $30,000 car can cost thousands more in interest than a 48-month loan.
Should I roll sales tax and fees into my car loan?
Financing tax and fees means you pay interest on them over the life of the loan, which costs more in total than paying them upfront. It's still common because it avoids a larger cash outlay at signing. This calculator finances them by default so you can see the real monthly cost of doing so.
What if I still owe money on my trade-in?
If you owe more on your trade-in than it's worth, that difference, called negative equity, gets added to your new loan rather than paid off separately. Enter it in the Amount Owed on Trade-In field to see its real effect on your monthly payment.
Does every state calculate sales tax the same way on a trade-in?
No. Most states tax the vehicle price minus the trade-in value, which this calculator assumes. A few states, including California, tax the full vehicle price regardless of any trade-in. Check your own state's rule for an exact figure.
Does a bigger trade-in value always help?
Yes, directly. A larger trade-in value reduces both the amount financed and, in most states, the sales tax owed, since tax is calculated on the price after subtracting the trade-in.
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