Auto Loan Calculator: Plan Your Next Vehicle Purchase
Get on the road with a clear monthly budget.
Buying a car is a major family milestone, but the sticker price is only half the story. Our Auto Loan Calculator helps you factor in interest rates, sales tax, trade-in values, and down payments to determine exactly what you’ll pay at the dealership and over the life of your loan.
Calculate Your Car Payment
Calculate payments for your new or used vehicle
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Enter car price and tax to see results
How Auto Loans Work
Auto loans are typically amortized, meaning you pay the same amount every month, but the portion going toward the interest versus the principal changes over time.
Key Factors for Your Budget:
- The Down Payment: In the US and Canada, putting 10–20% down can significantly lower your interest rate and prevent you from being “underwater” (owing more than the car is worth).
- Trade-In Value: If you are trading in your old car, the dealer often subtracts that value from the purchase price before sales tax is applied, saving you even more money.
- Loan Term: While 72-month or 84-month loans offer lower monthly payments, they result in much higher interest costs over time.
Beware of the “Hidden” Costs
A car payment is just one part of your monthly transportation expense. When using this calculator, remember to leave room for:
- Sales Tax: Varies by state or province.
- Registration & Title Fees: Usually paid upfront or rolled into the loan.
- Auto Insurance: Newer cars often require comprehensive coverage, which may be more expensive than your previous premium.
- Depreciation: Most cars lose about 20% of their value in the first year.