Car Loan Calculator
Work out your monthly car payment after down payment and trade-in, plus the total interest on your auto loan.
Last reviewed July 1, 2026
Excludes sales tax, registration and dealer fees — add those to the price.
Financing a car is easy to get wrong because dealers focus on the monthly payment, not the total cost. This car loan calculator shows both: your monthly payment after any down payment and trade-in, and the total interest you'll pay across the whole term.
Enter the vehicle's price, what you're putting down, the value of any trade-in, the interest rate (APR), and the loan length. Longer terms shrink the monthly payment but quietly add a lot of interest — this tool makes that trade-off obvious.
How the car payment is worked out
The amount you finance is the car price minus your down payment and trade-in value. That figure is then spread across the term using the standard amortization formula, with interest charged each month on the remaining balance.
Because a car loses value faster than the loan is repaid in the early months, a small down payment on a long term can leave you owing more than the car is worth — known as being 'upside down'. A larger down payment and a shorter term protect against that.
Watch the total cost, not just the monthly payment
A 72- or 84-month loan can make almost any car look affordable per month, but you'll pay interest for years longer and often still owe money when the car needs replacing. Compare the total-interest figure across terms before you commit.
Sales tax, registration, and dealer fees are usually extra. Add them to the price (or your down payment budget) to see the real out-the-door cost.
Frequently asked questions
▶What's a good car loan term?
Shorter is cheaper overall. Many advisors suggest keeping auto loans to 48–60 months; longer terms lower the monthly payment but add significant interest and raise the risk of owing more than the car is worth.
▶Does a bigger down payment help?
Yes. A larger down payment reduces the amount financed, lowers your monthly payment and total interest, and can help you qualify for a better rate.
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Open calculator →Disclaimer: Car Loan Calculator results are estimates for general information and education only, and are not financial, tax, legal or medical advice. Verify important decisions with a qualified professional.