Auto Loan Calculator
Estimate your monthly car payment and total interest over the life of the loan.
Enter your numbers and select Calculate to see results.
About This Calculator
This auto loan calculator estimates your monthly payment for a new or used car loan. Enter the vehicle price, down payment, trade-in value, sales tax rate, interest rate (APR), and loan term to see your estimated monthly payment, total interest paid, and a payoff schedule.
How This Is Calculated
M = P [ i(1+i)^n ] / [ (1+i)^n − 1 ]
- M
- — Monthly payment
- P
- — Amount financed (price + tax − trade-in − down payment)
- i
- — Monthly interest rate (APR ÷ 12)
- n
- — Loan term in months
Financing $28,000 at 7.5% APR for 60 months results in a monthly payment of about $561, with roughly $5,660 in total interest.
Assumptions
- Sales tax is calculated on the vehicle price only; some states also tax fees, which this does not include.
- Does not include title, registration, or dealer documentation fees.
- Assumes a fixed APR for the full loan term.
Frequently Asked Questions
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Last updated January 15, 2026. Results are estimates for informational purposes only — read our disclaimer.