Auto Loan Calculator

Calculate car loan monthly payments with down payment, trade-in, taxes, and term comparison.

What is an Auto Loan Calculator?

Calculate your monthly car payment with down payment, trade-in, sales tax, and loan term. See total interest and true cost of ownership.

How to Use

Using the Auto Loan Calculator is very simple:

  • Enter your values in the input fields
  • Click the Calculate button
  • View the result immediately

Tips

  • Double-check your inputs for accurate results
  • This tool is for estimation - consult a professional for important decisions
  • Save your results for future reference

Frequently Asked Questions

What is a good interest rate for an auto loan?+
As of 2026, good rates for new cars with excellent credit (700+) are 4-6%, and 5-8% for used cars. Rates above 10% are typically subprime. Credit unions often offer lower rates than dealer financing.
How much should I put down?+
An ideal down payment is 20% for new cars and 10% for used cars. A larger down payment reduces monthly payments, total interest, and the risk of being underwater on the loan (owing more than the car is worth).
Are longer loan terms better?+
Longer terms (72-84 months) have lower monthly payments but significantly higher total interest costs. A 60-month loan is the sweet spot for most buyers - reasonable payments without excessive interest.
Does a trade-in reduce sales tax?+
In most US states, yes. Sales tax is calculated on the price minus the trade-in value. This calculator automatically applies that deduction.

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