Auto Loan Calculator
The Auto Loan Calculator estimates your monthly car payment by factoring in the vehicle price, sales tax, trade-in value, down payment, interest rate, and loan term.
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How This Tool Works
Enter the vehicle price, any down payment or trade-in value, your local sales tax rate, interest rate, and loan term to calculate your monthly payment.
Formula & Method
Amount financed = vehicle price + sales tax − down payment − trade-in value. Monthly payment uses the standard amortization formula applied to that financed amount.
Example Calculation
A $32,000 car with $3,000 down, no trade-in, 7% sales tax, at 6% APR over 60 months has a monthly payment of about $606.
Frequently Asked Questions
Does this include sales tax?+
Yes, sales tax is calculated on the vehicle price and added to the amount financed — though some states tax differently after trade-in credit, so check your local rules.
Should I use my trade-in value or payoff amount?+
Use the amount the dealer is crediting you for your trade-in. If you still owe money on it, that payoff amount typically gets rolled into your new loan separately.
What loan term should I choose?+
Shorter terms mean higher monthly payments but less total interest. Longer terms lower your payment but usually cost more in total interest over the life of the loan.
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