Auto loan calculator
Monthly car payment and total interest with sales tax, fees, down payment and trade-in.
- ๐บ๐ธ US federal & state rules
- See sources
Monthly payment
$652.45
60 months at 7% APR on $32,950
- Amount financed
- $32,950
- Total interest
- $6,196.97
- Sales tax
- $2,450.00
- Total of payments
- $39,147
This is an example. Enter your numbers above and press the button to see your own result.
Same loan, other terms
| 36 months | $1,017.40 a month, $3,676 interest |
|---|---|
| 48 months | $789.03 a month, $4,923 interest |
| 60 months | $652.45 a month, $6,197 interest |
| 72 months | $561.76 a month, $7,497 interest |
| 84 months | $497.30 a month, $8,824 interest |
- An estimate. The lender's APR depends on your credit, the car's age and the term.
- Sales tax is charged on the price minus the trade-in, which is how most states do it. A few states tax the full price, so turn the option off if yours does.
Show the math
| Vehicle price | $35,000.00 |
|---|---|
| Sales tax (7% of $35,000.00) | $2,450.00 |
| Fees added to the loan | $500.00 |
| Down payment | -$5,000.00 |
| Amount financed | $32,950.00 |
| Monthly rate (APR รท 12) | 0.5833% |
| Payment over 60 months | $652.45 |
What to do next
How it works
The calculator adds sales tax and any fees to the price, then subtracts your down payment and trade-in equity. What is left is the amount financed.
The monthly payment uses the standard amortization formula: payment = P ร r ร (1 + r)^n รท ((1 + r)^n minus 1), where P is the amount financed, r is the APR divided by 12, and n is the number of months.
Things to keep in mind
Sales tax rules differ by state. Most tax the price after the trade-in, some tax the full price, and a few have no sales tax on cars at all. Enter the combined state and local rate where you will register the car.
If you owe more on your trade-in than it is worth, that negative equity gets added to the new loan, which raises both the payment and the interest.
Sources
- CFPB, auto loansChecked 2026-10-19
Frequently asked questions
How is a car loan payment calculated?
Lenders use a fixed payment formula on the amount financed, with the APR divided by 12 as the monthly rate. A $30,000 loan at 7% for 60 months is about $594 a month.
Is sales tax included in a car loan?
It usually is. Dealers add sales tax and fees to the price, and whatever you do not pay up front becomes part of the loan.
Does a trade-in lower the sales tax?
In most states, yes. You pay tax on the price minus the trade-in value, so a $10,000 trade-in at 7% saves $700 in tax. A few states, including California, tax the full price.
Is a 72 or 84 month car loan a bad idea?
Longer terms lower the payment but raise total interest, and you can owe more than the car is worth for years. Check the term table above to see the trade-off.