Auto Loan Calculator
Calculate your monthly car payment from vehicle price, down payment, trade-in value, interest rate, and loan term.
About the Auto Loan Calculator
Financing a car involves more moving parts than a typical loan: the sticker price, whatever you put down, the value of a trade-in, and a term usually measured in months rather than years. This calculator combines all four with your interest rate to produce the amount actually financed, your monthly payment, and total interest over the loan.
How It Works
The calculator first nets the vehicle price against your down payment and trade-in value to find the amount financed. That financed amount is then run through the same amortization math used for any installment loan — converting the annual rate to a monthly rate and solving for the level payment that fully repays the loan across the chosen number of months.
Amount Financed = Vehicle Price − Down Payment − Trade-In; Payment = P × [r(1+r)^n] / [(1+r)^n − 1].
Example
Scenario: A $32,000 vehicle with a $4,000 down payment, no trade-in, 6.9% APR, over 60 months.
Result: Amount financed of $28,000 with a monthly payment of about $552 and roughly $5,096 in total interest.
Assumptions & Limitations
- Trade-in value is treated as a straight reduction to the amount financed, with no separate payoff on an existing loan.
- Sales tax, title, and registration fees are not automatically added to the financed amount.
- Dealer financing often bundles fees or add-ons that change the effective rate — compare using the APR field on your paperwork, not just the advertised rate.
- Does not account for negative equity from a trade-in that is still owed money.