Car Loan Calculator
Calculate car loan monthly payments, total interest, and loan term. Compare auto loan rates, include trade-in value, and estimate total vehicle financing costs with taxes and fees.
PopularVehicle Information
Total vehicle purchase price before taxes and fees
Initial payment (20% recommended)
Value of your current vehicle being traded
Loan Details
Annual percentage rate from your lender
Loan duration (48-60 months recommended)
Additional Costs
Local sales tax rate
Title, registration, and dealer fees
Your Car Loan Summary
Complete Cost Breakdown
How to Use the Car Loan Calculator
This car loan calculator helps you determine your monthly payment and total cost when financing a vehicle. Enter your car price, down payment, trade-in value, interest rate, and loan term to get instant results.
Understanding Your Results
- Monthly Payment: Your fixed monthly payment amount including principal and interest
- Loan Amount: Total amount financed after down payment and trade-in
- Total Payment: Sum of all monthly payments over the loan term
- Total Interest: Extra amount paid beyond the loan principal
- Total Cost: Complete cost including down payment, payments, and trade-in value
Tips for Getting the Best Car Loan
- Shop around with multiple lenders to compare rates
- Get pre-approved before visiting dealerships
- Make at least a 20% down payment to reduce interest
- Keep the loan term to 48 months or less when possible
- Check your credit score and improve it before applying
- Consider total cost of ownership, not just monthly payment
- Avoid rolling negative equity from a trade-in into your new loan
Car Loan Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n-1]
Where: P = Principal (loan amount), r = Monthly interest rate, n = Number of payments