Auto Loan Calculator
See the true monthly cost of financing a car. This calculator applies US sales tax to the taxable amount, subtracts your down payment and trade-in, adds dealer fees, then computes an amortized payment.
Monthly payment
$583.15
- Amount financed
- $29,450.00
- Total interest
- $5,538.72
- Total cost of vehicle
- $42,988.72
Taxed amount $30,000.00 · 5 years · 7% APR
How the Auto Loan Calculator works
The calculation follows the standard method used across the US — no shortcuts, no hidden assumptions. Here is exactly what happens behind the scenes:
Formula
Financed = Price + Tax + Fees − Down − Trade-in; Payment = P·i/(1−(1+i)^−n)
Frequently Asked Questions
Is sales tax charged on my trade-in?
In most states you only pay sales tax on the difference between the purchase price and trade-in value. A few states tax the full price regardless — check your state DMV rules.
What interest rate should I expect on a car loan in 2026?
Rates vary widely with credit scores: new-car loans often run 5–8% for strong credit and 10–15%+ for subprime. Getting pre-approved by a bank or credit union gives you leverage at the dealership.
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