# Auto Loan Calculator

URL: https://speedycalculator.com/calculators/finance/auto-loan/
Last updated: 2026-10-25

> The auto loan calculator works out your monthly car payment, total interest and total cost from the vehicle price, down payment, trade-in, amount owed on the trade-in, sales tax, fees, interest rate and loan term.

## Inputs

- Auto price
- Down payment
- Trade-in value
- Amount owed on trade-in
- Sales tax (%)
- Title, registration and other fees
- Include taxes and fees in the loan?
- Interest rate (APR) (%)
- Loan term (years, months)

## Results

- Sales tax
- Total loan amount
- Monthly payment
- Total loan interest
- Upfront payment
- Total cost (price, interest, tax and fees)

## Formula

```
Taxable amount = price − trade-in (in most states)
Loan = price + sales tax + fees − down payment − trade-in + amount owed on trade-in
Monthly payment = loan × i ÷ (1 − (1 + i)^−n)
```

## Explanation

Shorter loans cost less interest; the average new-car loan is now about 68 months. Get pre-approved by a bank or credit union so you can compare the dealer's financing offer, and remember that rebates and 0% APR offers are often either-or.

### How to use the Auto Loan Calculator

- **Auto price**
- **Down payment**
- **Trade-in value**
- **Amount owed on trade-in**
- **Sales tax**
- **Title, registration and other fees**
- **Include taxes and fees in the loan?**
- **Interest rate (APR)**
- **Loan term**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Enter the car price, down payment, trade-in value and amount owed, sales tax, fees, interest rate and term.

### Tips

- Use your real spending from bank statements rather than guesses.
- Automate savings so they happen before you spend.
- Revisit your plan once a year or after any big life change.
- Keep an emergency fund before investing for long-term goals.

### Common mistakes to avoid

- Underestimating irregular expenses such as car repairs, gifts and annual bills.
- Ignoring inflation for long-term goals.
- Taking on high-interest debt to fund wants.

### Inputs explained

FieldWhat to enterAuto priceAmount in your currencyDown paymentAmount in your currencyTrade-in valueAmount in your currencyAmount owed on trade-inAmount in your currencySales taxIn %Title, registration and other feesAmount in your currencyInclude taxes and fees in the loan?Choose one: Yes, No – pay upfrontInterest rate (APR)In %Loan termUnits: years, months

### What each result means

- **Sales tax** = max([Auto price] - [Trade-in value], 0)×[Sales tax]÷100
- **Monthly payment** = pmt([Interest rate (APR)]÷1200, [Loan term], [Total loan amount])
- **Total loan interest** = [Monthly payment]×[Loan term] - [Total loan amount]
- **Total cost (price, interest, tax and fees)** = [Auto price] + [Sales tax] + [Title, registration and other fees] + ([Monthly payment]×[Loan term] - [Total loan amount]) + [Amount owed on trade-in]

### Example values

How the main result changes when **Auto price** changes and everything else stays at the example values above:

Auto priceMonthly payment17,500170.4226,250358.0335,000545.6343,750733.2452,500920.8470,0001,296.05

## Worked example

Inputs — Auto price: $35,000; Down payment: $5,000; Trade-in value: $6,000; Amount owed on trade-in: $0; Sales tax: 7 %; Title, registration and other fees: $1,200; Include taxes and fees in the loan?: Yes; Interest rate (APR): 7.5 %; Loan term: 5 years.

Results — Sales tax = $2,030.00; Total loan amount = $27,230.00; **Monthly payment = $545.63**; Total loan interest = $5,508.00; Upfront payment = $5,000.00; Total cost (price, interest, tax and fees) = $43,738.00.

## FAQ

**How much car can I afford?**
Many advisers suggest total car costs under 10–15% of take-home pay.

**What is a good auto loan rate?**
It depends on credit; new-car rates for top credit have been around 5–7% recently.

**Should I roll negative equity into a new loan?**
It raises your payment and interest – avoid it if you can.

**What formula does the Auto Loan Calculator use?**
Taxable amount = price − trade-in (in most states).


## Sources

- [Consumer Financial Protection Bureau](https://www.consumerfinance.gov/)