finance calculator
Estimate monthly car payments, total financing cost, and interest owed based on vehicle price, down payment, and loan term.
An auto loan payment is calculated from the amount financed — vehicle price minus down payment and trade-in, plus tax and fees — using the standard amortizing formula. A $30,000 vehicle with $5,000 down, financed at 7% over 60 months, costs about $495 per month and roughly $4,700 in total interest.
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Monthly payment
$602
Tip
Car shopping involves comparing multiple dealer offers. Save this tool to quickly audit financing terms, fees, and payments.
Formula
Amount financed = price + tax + fees - down payment - trade-inThe financed amount is passed into the standard amortizing loan payment formula.
Step by step
Example
A $35,000 vehicle with $7,000 down, 7% sales tax, $300 fees, and a 6.5% APR for 60 months has an estimated payment near $602.
Related guides
Guide
Compare auto financing by amount financed, annual rate, term, monthly payment, and total interest, then include ownership costs outside the loan.
Guide
Learn how fixed loan payments are calculated, why term length changes total interest, and how the DTC loan calculator matches amortization math.
Summary
Monthly payment
$602
Estimated auto loan payment.
Amount financed
$30,750
Price plus tax/fees minus credits.
Total interest
$5,350
Financing cost over the term.
Total vehicle cost
$43,100
Vehicle cost plus interest.
D3 visualization
Compare vehicle price, tax, fees, down payment, and trade-in inputs.
D3 visualization
A sampled view of the full auto-loan term shows when the balance meaningfully drops.
Full amortization schedule
Monthly view shows the full exact schedule. Quarterly and yearly views summarize the same monthly schedule. Weekly view is a weekly equivalent split for quick planning.
Swipe sideways to view all columns.
Scroll within the table to see every row, or switch to Yearly above for a shorter one-row-per-year summary.
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Month 1 | $602 | $435 | $167 | $30,315 |
| Month 2 | $602 | $437 | $164 | $29,877 |
| Month 3 | $602 | $440 | $162 | $29,438 |
| Month 4 | $602 | $442 | $159 | $28,995 |
| Month 5 | $602 | $445 | $157 | $28,551 |
| Month 6 | $602 | $447 | $155 | $28,104 |
| Month 7 | $602 | $449 | $152 | $27,654 |
| Month 8 | $602 | $452 | $150 | $27,203 |
| Month 9 | $602 | $454 | $147 | $26,748 |
| Month 10 | $602 | $457 | $145 | $26,291 |
| Month 11 | $602 | $459 | $142 | $25,832 |
| Month 12 | $602 | $462 | $140 | $25,370 |
| Month 13 | $602 | $464 | $137 | $24,906 |
| Month 14 | $602 | $467 | $135 | $24,439 |
| Month 15 | $602 | $469 | $132 | $23,970 |
| Month 16 | $602 | $472 | $130 | $23,498 |
| Month 17 | $602 | $474 | $127 | $23,024 |
| Month 18 | $602 | $477 | $125 | $22,547 |
| Month 19 | $602 | $480 | $122 | $22,068 |
| Month 20 | $602 | $482 | $120 | $21,585 |
| Month 21 | $602 | $485 | $117 | $21,101 |
| Month 22 | $602 | $487 | $114 | $20,613 |
| Month 23 | $602 | $490 | $112 | $20,123 |
| Month 24 | $602 | $493 | $109 | $19,631 |
| Month 25 | $602 | $495 | $106 | $19,135 |
| Month 26 | $602 | $498 | $104 | $18,637 |
| Month 27 | $602 | $501 | $101 | $18,137 |
| Month 28 | $602 | $503 | $98 | $17,633 |
| Month 29 | $602 | $506 | $96 | $17,127 |
| Month 30 | $602 | $509 | $93 | $16,618 |
| Month 31 | $602 | $512 | $90 | $16,106 |
| Month 32 | $602 | $514 | $87 | $15,592 |
| Month 33 | $602 | $517 | $84 | $15,075 |
| Month 34 | $602 | $520 | $82 | $14,555 |
| Month 35 | $602 | $523 | $79 | $14,032 |
| Month 36 | $602 | $526 | $76 | $13,506 |
| Month 37 | $602 | $528 | $73 | $12,978 |
| Month 38 | $602 | $531 | $70 | $12,447 |
| Month 39 | $602 | $534 | $67 | $11,912 |
| Month 40 | $602 | $537 | $65 | $11,375 |
| Month 41 | $602 | $540 | $62 | $10,835 |
| Month 42 | $602 | $543 | $59 | $10,292 |
| Month 43 | $602 | $546 | $56 | $9,746 |
| Month 44 | $602 | $549 | $53 | $9,197 |
| Month 45 | $602 | $552 | $50 | $8,646 |
| Month 46 | $602 | $555 | $47 | $8,091 |
| Month 47 | $602 | $558 | $44 | $7,533 |
| Month 48 | $602 | $561 | $41 | $6,972 |
| Month 49 | $602 | $564 | $38 | $6,408 |
| Month 50 | $602 | $567 | $35 | $5,841 |
| Month 51 | $602 | $570 | $32 | $5,271 |
| Month 52 | $602 | $573 | $29 | $4,698 |
| Month 53 | $602 | $576 | $25 | $4,122 |
| Month 54 | $602 | $579 | $22 | $3,542 |
| Month 55 | $602 | $582 | $19 | $2,960 |
| Month 56 | $602 | $586 | $16 | $2,374 |
| Month 57 | $602 | $589 | $13 | $1,786 |
| Month 58 | $602 | $592 | $10 | $1,194 |
| Month 59 | $602 | $595 | $6 | $598 |
| Month 60 | $602 | $598 | $3 | $0 |
Guide
Enter the vehicle price, down payment, trade-in value, annual interest rate, loan term in months, sales tax rate, and any dealer fees.
The calculator adds sales tax and fees to the vehicle price, subtracts your down payment and trade-in value to find the amount financed, then applies standard loan amortization to return your monthly payment and total interest.
Vehicle price $35,000, down payment $7,000, no trade-in, 6.5% annual interest rate, 60-month term, 7% sales tax, $300 in dealer fees.
Sales tax amount: $35,000 × 7% = $2,450.
Total vehicle cost: $35,000 + $2,450 + $300 = $37,750.
Amount financed: $37,750 − $7,000 (down payment) = $30,750.
Monthly payment: ≈ $601.66.
Total interest over 60 months: ≈ $5,349.54. Total cost of the vehicle including tax, fees, and interest: ≈ $43,099.54 — about 23% more than the original $35,000 sticker price once taxes, fees, and financing are all included.
An auto loan is a secured installment agreement backed by the vehicle as collateral. To calculate the true monthly cost of a car, you must combine the vehicle price with local taxes, dealer fees, finance rates, and term lengths.
Vehicle Price: The negotiated price of the car (often referred to as the out-the-door price, excluding financing costs).
Down Payment Trade-In: The cash down payment plus the net trade-in value of your current car. Both directly reduce the principal balance you need to borrow.
Sales Tax Registration: Local sales taxes and state title/registration fees. Dealers often roll these fees directly into the loan, meaning you pay interest on taxes.
Dealer Fees: Document fees (doc fees), prep fees, or destination charges. Always check these charges, as they can inflate the loan principal.
The monthly payment is calculated using the standard amortizing loan formula, applied to the Net Financed Amount:
PMT = A_(financed) × (r(1 + r)^n)/((1 + r)^n - 1)
Where the Net Financed Amount is calculated as:
A_(financed) = Vehicle Price + Sales Tax + Dealer Fees - Down Payment - Trade-In Value
This formula shows why trading in a car with negative equity (owing more than the car is worth) inflates the payment. The negative balance is added to the new loan, increasing the financed amount.
In recent years, 72-month and 84-month auto loans have become common as buyers seek lower monthly payments. However, vehicles are depreciating assets that lose value rapidly.
Taking out a long-term loan increases the risk of becoming upside down (owing more on the loan than the vehicle is worth). If the car is totaled in an accident or you need to sell it, you will have to pay the lender cash to cover the negative equity gap.
Dealers often focus the negotiation strictly on the "monthly payment." By stretching the loan term or hiding fees, they can meet your monthly payment target while increasing the total cost of the vehicle.
Always negotiate the Out-The-Door (OTD) Price first. Once the OTD price is finalized, evaluate financing terms, APR, and total interest separately to ensure you get the best deal.
Before signing, confirm this payment fits your budget with the car affordability calculator, and compare the total cost of financing against leasing with the lease vs. buy calculator.
Amount Financed
The total loan principal borrowed after adding taxes/fees and subtracting cash down/trade-in.
GAP Insurance
Coverage that pays the difference between the vehicle value and the remaining loan balance in a total loss.
Negative Equity
The financial state of owing more on a vehicle loan than the asset's current market value.