Finance calculator
Auto Loan Calculator
Use this auto loan calculator to estimate the loan amount and monthly payment for a vehicle after a down payment, trade-in value, and sales tax. It models a fixed-rate installment loan and does not include every possible cost such as registration, dealer fees, gap insurance, warranties, or variable-rate changes.
Payment by car loan amount
See the full monthly-payment table (by rate & term) for a specific amount financed:
How to use this calculator
- Enter the vehicle price, then any down payment and trade-in value that reduce the amount financed.
- Add the sales tax rate, annual interest rate, and loan term.
- Use the loan amount, monthly payment, and total interest to compare financing scenarios before visiting a dealer or lender.
Formula
- Sales tax = vehicle price x sales tax rate
- Loan amount = vehicle price + sales tax - down payment - trade-in value
- Monthly rate = annual interest rate / 12
- Monthly payment = loan amount x monthly rate / (1 - (1 + monthly rate)^-payments)
Example calculation
For a $30,000 vehicle with $5,000 down, a $3,000 trade-in, 7% sales tax, and a 7.5% rate over 5 years, the loan amount is about $24,100 and the estimated payment is about $483 per month, with roughly $4,870 in total interest.
How to interpret the results
- Compare the monthly payment with your budget after insurance, fuel, maintenance, and other vehicle costs that the loan payment does not include.
- Use total interest to see the cost of borrowing. A longer term lowers the monthly payment but usually raises the total interest paid.
- This calculator taxes the full vehicle price for simplicity. Sales tax rules, dealer fees, and registration costs vary by location and should be confirmed separately.
Frequently asked questions
How is sales tax handled?
This calculator applies the sales tax rate to the full vehicle price. Some regions tax the price after a trade-in, so confirm local rules because the actual taxable amount can differ.
Does the loan amount include fees?
No. It estimates the amount financed from price, tax, down payment, and trade-in only. Dealer fees, registration, gap insurance, and warranties are not included.
Can I model zero down payment?
Yes. Enter zero for down payment and trade-in. Financing more of the price usually increases both the monthly payment and the total interest.
Planning disclaimer
MoneyHackWise calculators are for general informational and planning purposes only and do not provide financial, investment, tax, legal, accounting, lending, or business advice. Results are estimates based on the inputs and assumptions shown.
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