Calculate monthly car payments, total interest and cost of an auto loan.
Buying a car is exciting — until you realize you're looking at the sticker price, not the true cost. Our Auto Loan Calculator helps you cut through the noise by showing you exactly what your monthly payment will be, how much interest you'll pay over the life of the loan, and how variables like your down payment, trade-in, and loan term affect what you actually owe.
Whether you're financing a new car at a dealership or refinancing an existing auto loan, this tool gives you the numbers before you sign anything.
Enter the vehicle price, down payment, trade-in value, sales tax rate, loan term, and interest rate. The calculator subtracts your down payment and trade-in from the financed amount, adds applicable taxes and fees, then applies the standard installment loan formula to produce your monthly payment and a full interest summary.
Vehicle price: $28,000
Down payment: $3,000
Trade-in value: $2,500
Sales tax (8%): $1,800 (on $22,500 financed amount)
Amount financed: $24,300
Loan term: 60 months
APR: 6.5%
Monthly payment: $474.41
Total paid: $28,464.60
Total interest: $4,164.60
Compare that to a 72-month term: your monthly payment drops to $405.83, but you pay $5,220 in interest — over $1,000 more. The calculator makes this trade-off visible in seconds.