Auto Loan Calculator
Complete vehicle financing estimate
Enter purchase, trade-in, tax, and loan details
Result
Calculation summary
Enter values to see the result
Auto-loan balance preview
Estimated financed balance over time
- Scheduled monthly payment
- $649.60
- Amount financed
- $33,200.00
- Estimated total interest
- $5,775.77
How to use this calculator
- 1Enter the vehicle price, down payment, trade-in value and payoff, rebates, tax, and fees.
- 2Choose how the entered tax rate applies, then add the fixed APR, term, and optional extra monthly payment.
- 3Calculate to review the amount financed, scheduled payment, total interest, and estimated payoff.
Formula
Amount financed = price + tax + fees + trade payoff − down payment − trade value − rebates
The resulting principal uses the fixed-payment loan formula; extra payments are applied to principal after the scheduled payment.
Calculation steps
- Calculate the taxable base from the selected price or price-after-trade-in method.
- Calculate sales tax and net trade-in credit after any trade payoff.
- Combine price, tax, fees, credits, and cash down to obtain the amount financed.
- Calculate the fixed monthly payment and amortization schedule.
- Apply optional extra principal to estimate time and interest savings.
Worked example
A 35,000 vehicle with 5,000 down, 7% entered tax, 750 in entered fees, and a 60-month loan at 6.5% finances 33,200 and has a scheduled payment of about 649.60.
Assumptions
- Tax rules, taxable fees, rebates, and trade-in treatment vary by location and transaction.
- The rate is fixed and payments are made monthly and on time.
- Insurance, maintenance, fuel, registration renewals, and depreciation are excluded.
- The entered rate is used as the amortization rate and is not a regulatory APR calculation.
Sources
Frequently asked questions
Why is trade-in payoff added to the amount financed?
If money is still owed on the traded vehicle, that payoff reduces the trade-in credit and can create negative equity carried into the new loan.
Which sales-tax option should I choose?
Choose the method matching the estimate or rule for your transaction. Locations differ on whether trade-in value reduces the taxable base.
Does the result include the full cost of owning the vehicle?
No. Insurance, maintenance, fuel, depreciation, and future registration costs are excluded.
Are rebates treated as cash down?
They reduce the modeled amount financed but are shown separately from the cash down payment.