Auto loan calculator: car payment with tax and trade-in
Use this car loan calculator to find your car payment. Type the price of the car. Add the sales tax, fees, a down payment and a trade-in. The page shows how much you finance, the total interest and the total cost of the car.
Title, registration and dealer fees.
Most states give this credit. A few do not.
Payment in a month
$635.62
| Sales tax | $2,100.00 |
|---|---|
| Amount financed | $32,100.00 |
| Total interest | $6,037.09 |
| Total of the payments | $38,137.09 |
| Total cost of the car (price, tax, fees and interest) | $43,137.09 |
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $2,070.98 | $5,556.46 | $26,543.54 |
| 2 | $1,669.29 | $5,958.15 | $20,585.39 |
| 3 | $1,238.60 | $6,388.84 | $14,196.55 |
| 4 | $776.72 | $6,850.72 | $7,345.83 |
| 5 | $281.50 | $7,345.83 | $0.00 |
This is an estimate. It is not an offer of credit. Your lender can give other numbers.
How to use the calculator
- Type the price of the car and the sales tax rate.
- Type the fees, your down payment and the value of your trade-in. Type what you owe on the trade-in, if anything.
- Type the interest rate. Choose the loan term.
- Read the amount you finance, your payment and the total cost.
Questions
What is the payment on a $35,000 car loan?
With $5,000 down, 6% sales tax, a rate of 7% and 60 months, you finance $32,100.00. The payment is $635.62 a month. The interest is $6,037.09.
How does a trade-in change the loan?
A $10,000 trade-in lowers the amount you finance to $21,500.00 in the example. In most states it also lowers the sales tax, which is $1,500.00 instead of $2,100.00. If your state taxes the full price, the tax is $2,100.00.
What if I owe more than the car is worth?
Type what you still owe on the trade-in. The calculator adds it to the new loan. A bigger loan means a higher payment and more interest. Try to pay it down first, if you can.
Is a longer car loan a good idea?
A longer loan has a lower payment but costs more. In the example, 84 months gives $484.48 a month and $8,595.75 in interest. With 60 months the payment is $635.62 and the interest is $6,037.09.
Do you want to know your pay after tax? Try the US paycheck calculator.