US Car loan calculator
Estimate your monthly car payment, total interest, and out-the-door cost — with down payment, trade-in, and optional purchase tax.
Car & loan details
Out-the-door cost includes your down payment, trade-in value, and every loan payment. It excludes registration, insurance, and dealer fees.
Understanding your inputs
- Vehicle price
- The agreed price of the car before tax, trade-in, or deposit.
- Down payment
- Cash you put toward the car, reducing the amount financed.
- Trade-in value
- Credit for your old vehicle, which also lowers the amount borrowed.
- Interest rate (APR)
- The annual rate on the loan; car-loan interest is front-loaded into early payments.
- Term (months)
- How long you'll repay; a longer term cuts the monthly payment but adds interest.
- Purchase tax rate
- Any sales/registration tax applied to the purchase, where applicable.
Understanding your results
- Monthly payment
- What you'll pay each month over the loan term.
- Amount financed
- The loan size after your down payment and trade-in.
- Total interest
- The interest paid across the whole loan, on top of the amount financed.
- Out-the-door cost
- The all-in cost including your down payment, financed amount, interest, and tax.
Common scenarios
Jump straight to a pre-calculated answer for a typical scenario.
How car loans work in the US
A US auto loan is a fixed-rate, amortizing loan, usually arranged through a dealer, bank, or credit union. Each monthly payment covers that month's interest plus principal, calculated from the amount financed, your APR, and the term.
Amount financed = price + sales tax − down payment − trade-in
Sales tax and the trade-in credit
Most states charge sales tax on a car purchase, and many let you pay tax only on the price after your trade-in — a meaningful saving. On a $30,000 car with a $10,000 trade-in in a 7% state, you're taxed on $20,000 ($1,400) instead of $30,000 ($2,100). A handful of states (including California) tax the full price regardless. The tax is typically rolled into the amount financed.
Terms, APR, and credit
Terms of 60–72 months are common, with 84-month loans increasingly offered — longer terms cut the payment but pile on interest and keep you underwater longer. APR is heavily credit-score driven; used-car rates run higher than new. Dealer "0% APR" offers are usually an alternative to a cash rebate, so compare taking the rebate with a credit-union loan.
What this calculator doesn't cover
- State-by-state rules on whether trade-in reduces taxable price
- Documentation, title, and registration fees
- Gap insurance and extended warranties
- Manufacturer rebates vs. promotional financing trade-offs
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Frequently asked questions
How is a car loan payment calculated?
Does a bigger down payment reduce the cost?
Should I include sales tax in the loan?
What is APR and why does it matter?
Is a longer loan term cheaper?
Does this include insurance and running costs?
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