Car Loan Calculator
Auto payment including trade-in, down payment and sales tax.
Enter your values
ⓘ Live results
Results
- Monthly payment
- $605.24
- Amount financed
- $29,920.00
- Sales tax
- $1,920.00
- Total interest
- $6,394.33
- Total cost
- $40,314.33
Quick answer
A car payment is the amortised loan on the vehicle price plus sales tax, minus your down payment and trade-in value.
How to use the Car Loan Calculator
- 1Enter the vehicle price and your sales tax rate.
- 2Add any down payment and trade-in value.
- 3Set the rate and term to see the payment.
Worked example
Using the values the calculator loads with:
Inputs
- Vehicle price32000 $
- Down payment4000 $
- Trade-in value0 $
- Sales tax6 %
- Interest rate7.9 %
- Term60 months
Results
- Monthly payment$605.24
- Amount financed$29,920.00
- Sales tax$1,920.00
- Total interest$6,394.33
- Total cost$40,314.33
Frequently asked questions
Is a 72-month loan a bad idea?
It lowers the payment but adds interest and keeps you underwater longer, since cars depreciate faster than long loans amortise.
Does trade-in reduce sales tax?
In many US states yes, the trade-in value is deducted before tax. This tool taxes the full price, which is the conservative case.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.