Auto Loan Calculator
Free auto loan calculator. Enter price, down payment, trade-in, rate, and term to see your monthly payment, total interest, and full amortization.
Last reviewed: · Reviewed by the Money Scale editorial team · How we source our data
Power mode. Every input exposed, every assumption sourced, charts and shareables.
$35,000
$3,500
$0
6.50% local sales tax
7.52% APR
Default 7.52%Federal Reserve G.19 — Consumer Creditas of May 2026 release (March 2026 data)
60 months (5 years)
Monthly payment
$677.10/mo
Loan amount
$33,775
Total interest
$6,851
Total paid
$40,626
- Balance
- Interest
🚗 $677.10/mo
$35,000 vehicle, $3,500 down, $0 trade-in, 7.52% APR × 60 months.
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The Auto Loan Calculator computes your monthly payment, total interest, and remaining-balance curve from vehicle price + sales tax − down payment − trade-in, financed at your APR over your term. The default rate tracks the Federal Reserve G.19 average for 60-month new car loans (cited inline below the rate field) — but your actual rate depends heavily on credit score and shopping multiple lenders.
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How this calculator works
- Enter the vehicle price (out-the-door before tax).
- Add local sales tax (6–9% in most US states; 0% in OR, MT, NH, DE, AK).
- Subtract down payment + trade-in equity to compute the amount financed.
- Set the APR — get a quote from your bank or credit union BEFORE going to the dealer (this is the strongest negotiation lever).
- Pick the term in months. 60 months (5 years) is the longest most financial planners recommend; longer means being underwater for most of the loan.
loan = (price × (1 + tax_rate)) − down_payment − trade_in M = loan × [r(1+r)ⁿ / ((1+r)ⁿ − 1)]Compute the amount financed (price + tax minus down + trade-in), then apply the standard fixed-rate amortization formula to get the monthly payment. Same math as a mortgage but a shorter term.
- price
- Vehicle out-the-door price
- tax_rate
- Local sales tax rate
- down_payment
- Cash down
- trade_in
- Equity in your current vehicle (negative if underwater — don't roll it in)
- r
- Monthly rate (APR/12)
- n
- Number of payments (term in months)
Frequently asked questions
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