Build the amount financed
The calculator starts with vehicle price, then accounts for trade equity, down payment, rebate, estimated tax, dealer fees, and registration costs.
Free Auto Finance Tool
Car Loan Payment Calculator
Estimate your monthly car payment, amount financed, total interest, taxes, fees, and how much extra payments could shorten the loan.
Step 1 · Enter vehicle and loan details
Estimate your auto loan
Start with the vehicle price, then adjust your down payment, trade-in, taxes, fees, interest rate, and loan term.
Year-by-year payoff
See the loan balance shrink.
The table uses your current loan settings and includes any extra monthly principal payment you entered.
| Year | Starting balance | Principal paid | Interest paid | Ending balance |
|---|
How the calculator works
See more than the monthly payment.
A lower monthly payment can come from a larger down payment, lower APR, or longer loan term. The total interest and overall vehicle cost help show the tradeoff more clearly.
Estimate payment and interest
The financed balance, APR, and selected term are used to estimate the scheduled monthly payment and total interest.
Test extra payments
An additional monthly principal payment can reduce the balance faster and may lower total interest when the loan allows early repayment without penalty.
Method: Net trade credit equals trade-in value minus the amount owed on the trade. Estimated sales tax uses the selected tax assumption. Amount financed equals vehicle price plus estimated tax and entered fees, minus down payment, net trade credit, and cash rebate, with the result floored at zero. Monthly payment uses a standard amortizing installment-loan formula. Extra monthly payments are modeled as additional principal. This tool is for planning and is not a lender or dealer quote.
Related tools
Keep planning the cost of driving.
Common questions
Car loan calculator questions.
How is a car loan payment calculated?+
A typical fixed-rate auto loan payment is based on the amount financed, interest rate, and number of monthly payments. This calculator uses a standard amortizing loan formula.
Does a down payment reduce the monthly payment?+
Generally, yes. A larger down payment reduces the amount financed, which can lower the monthly payment and the total interest paid when other loan terms remain the same.
How does a trade-in affect the loan?+
The calculator uses net trade credit, which is the trade-in value minus any amount still owed on the trade. Positive trade equity can reduce the amount financed, while negative equity can increase it.
Are car sales taxes calculated the same everywhere?+
No. State and local tax rules vary, including how trade-ins and rebates are treated. The calculator includes two tax assumptions so you can choose a planning method, but you should verify the actual tax treatment for your transaction.
Can extra payments reduce auto loan interest?+
If extra payments are applied to principal and the loan does not penalize early repayment, paying additional principal can shorten the payoff period and reduce future interest.