Car buyers often focus only on the monthly payment, which makes a long term look cheap while hiding thousands in extra interest. Run the same deal at 36, 48, 60 and 72 months to see the trade-off, and check what happens if you increase the down payment or negotiate a lower APR. If you also want to model financing outside the dealership, compare the result with our Loan Calculator.
Calculator
Formula used
Amount financed = (price + fees − down payment − trade-in) × (1 + sales tax rate)
How to use the Auto Loan Calculator
- Enter the negotiated price of the car.
- Add your cash down payment and any trade-in value.
- Set your local sales tax rate and the loan APR.
- Pick the term in months (24, 36, 48, 60 or 72).
- Compare the monthly payment against the total interest before you sign.
About this tool
The Auto Loan Calculator is built for speed and accuracy: every calculation runs in your browser, so your data never leaves your device and the result updates as you type. It works equally well on a phone, a tablet or a desktop, and it is free to use as many times as you like.
Common use cases
- Checking the real cost of a 72-month car loan.
- Comparing dealer financing with a credit-union rate.
- Deciding how much to put down to keep payments manageable.
- Budgeting a car purchase alongside other monthly debt.
Tips for the best result
- Use the latest figures you have - even a small change in rate or term can shift the outcome by hundreds.
- For annual figures, divide by 12 to get a monthly number you can compare with the result.
- Bookmark this page and revisit the calculation as the inputs change.
Frequently asked questions
Should I choose a longer term for a lower payment?
A longer term lowers the payment but raises total interest and keeps you underwater on the loan for longer. If the payment fits, the shortest affordable term is usually cheapest.
Does the trade-in reduce taxable amount?
In most US states the trade-in credit is deducted before sales tax is applied, which is how this calculator models it. Rules vary, so confirm locally.
Can I use it for a used car?
Yes. Used-car rates are usually higher, so simply enter the APR your lender quotes and the same math applies.
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