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Auto Loan Calculator

Calculate monthly car payments, interest paid, trade-in value, sales tax, and full loan amortization.

Quick Scenarios
The negotiated purchase price of the vehicle before taxes and fees.
Cash paid upfront towards the purchase.
The estimated trade-in value of your current car.
Remaining loan balance on your trade-in vehicle (if any).
Annual interest rate for the auto loan.
Repayment period. Shorter terms save on total interest.
State and local vehicle sales tax rate.
Title, registration, and dealership documentation fees.

Loan Term: 60 months (5 yrs) at 6.5% APR

A loan term of 60 months or under keeps total financing costs low while building positive equity faster.

Monthly Payment $637.86
Loan Amount (Financed) $32,600.00
Total Interest Paid $5,671.60
Sales Tax $2,100.00
Total Amount Paid (Loan) $38,271.60
Total All-in Vehicle Cost $43,271.60

GetCalcu Methodology & Editorial Standards

Every calculation formula on GetCalcu is peer-reviewed against official industry standards (CFPB, IRS Title 26, NIST, ISO 80000, and CDC guidelines).

Reviewed by: GetCalcu Editorial & Mathematical Board
Last Verified: September 2026
Accuracy Policy: In-browser deterministic computation
Feedback: Report an issue

How to Calculate Your Auto Loan Payment and Total Costs

When buying a car, the sticker price is only part of the equation. Interest rates, loan terms, trade-in equity, sales taxes, and dealer documentation fees all impact your true monthly payment and lifetime cost.

The Impact of Loan Terms on Lifetime Interest

While a 72- or 84-month auto loan reduces your monthly bill, it dramatically increases the total interest you pay. In many cases, borrowers remain "underwater" (owing more than the vehicle is worth) for the first 3 to 4 years of a 72+ month loan.

How Trade-in Value and Sales Tax Work

In most US states and international jurisdictions, your trade-in value reduces the taxable purchase price of the new vehicle. For instance, trading in a $10,000 car on a $35,000 purchase means you only pay sales tax on $25,000, saving hundreds of dollars in taxes.

How to Use the Auto Loan Calculator

  1. Step 1: Enter the vehicle sticker price and your cash down payment.
  2. Step 2: Add trade-in value and any outstanding loan balance on your current vehicle.
  3. Step 3: Select your loan term (e.g. 48, 60, or 72 months) and loan APR.
  4. Step 4: Review your monthly payment, lifetime interest, and month-by-month amortization schedule.
Formula: M = P × [r(1+r)^n] / [(1+r)^n − 1] | Financed = Price + Tax + Fees − Down − Net Trade-in

Real-World Worked Examples

Standard 60-Month Auto Loan

Input: $35,000 Price, $5,000 Down, 6.5% APR, 60 Months

Result: $622/mo | Total Interest: ~$5,340

72-Month Term vs 48-Month Comparison

Input: $35,000 Price, $5,000 Down, 6.5% APR

Result: 48 Months: $743/mo ($3,660 interest) vs 72 Months: $536/mo ($6,560 interest)

Frequently Asked Questions

What is a good auto loan interest rate?

Auto loan interest rates vary based on credit score, new vs used status, and loan term. Prime borrowers with credit scores over 720 typically secure APRs between 5% and 7% on new vehicles.

Should I choose a 48, 60, or 72-month auto loan?

Financial experts generally recommend a maximum term of 60 months for new cars and 48 months for used cars to prevent paying excessive interest and falling into negative equity.

How does a trade-in affect vehicle sales tax?

In most states, the trade-in allowance is subtracted from the purchase price before sales tax is calculated, reducing the total tax you owe.

What fees are included in the auto loan?

Common fees include dealer documentation fees, state title and registration fees, and local sales tax.