Monthly Car Payment Calculator
Enter the price, down payment, trade-in, tax, APR and term and get your monthly car payment and total interest.
Minus any loan still owed on it.
Title, registration, dealer fees.
States differ on whether the trade-in lowers the taxed price; untick the box if yours taxes the full price.
60-month loan at 6.5% APR
$595.20 a month
Amount financed $30,420.00 · total interest $5,292.13 · total of payments $35,712.13
| Sales tax | $1,920.00 |
| Amount financed | $30,420.00 |
| Total interest | $5,292.13 |
| Total cost (payments + down + trade-in) | $39,712.13 |
Same loan, other terms
| Term | Monthly | Total interest |
|---|---|---|
| 24 months | $1,355.10 | $2,102.33 |
| 36 months | $932.34 | $3,144.34 |
| 48 months | $721.41 | $4,207.63 |
| 60 months | $595.20 | $5,292.13 |
| 72 months | $511.36 | $6,397.78 |
| 84 months | $451.72 | $7,524.47 |
Year-by-year
| Year | Interest paid | Principal paid | Balance left |
|---|---|---|---|
| 1 | $1,820.61 | $5,321.82 | $25,098.18 |
| 2 | $1,464.20 | $5,678.23 | $19,419.95 |
| 3 | $1,083.92 | $6,058.51 | $13,361.44 |
| 4 | $678.17 | $6,464.26 | $6,897.18 |
| 5 | $245.24 | $6,897.18 | $0.00 |
What this page cannot tell you
The lender's figure can differ by a few cents because of rounding, the first payment date and how interest accrues between payments. It leaves out insurance, gap coverage, warranties and any add-ons sold with the loan. The APR you qualify for is set by the lender.
How to calculate a monthly car payment
- Enter the price and money down. Vehicle price, cash down payment and trade-in value.
- Add tax and fees. Your sales tax rate and any fees rolled into the loan.
- Enter APR and term. The loan's annual percentage rate and length in months.
- Read the payment. Monthly payment, total interest, other terms compared and a yearly schedule.
10 decisions a car payment calculation helps with
Setting a budget before the dealership
A buyer works out the most car a $450 monthly payment covers.
Comparing loan terms
Someone sees how much more interest a 72-month loan costs than a 48-month one.
Dealer financing versus a credit union
A buyer compares the payment at two different APRs.
How much to put down
A buyer sees how an extra $2,000 down changes the payment.
Trade-in value
Someone checks what their trade-in is worth in monthly terms.
Used car purchases
A first-time buyer prices a used car loan.
Refinancing
An owner enters the remaining balance and a new APR to compare payments.
Lease versus buy
A shopper gets the buy-side payment to compare with a lease quote.
Checking a contract
A buyer checks the payment on the paperwork against their own figures.
0% APR offers
Someone compares a 0% deal with a cash rebate and a normal APR.
How the payment is calculated
The amount financed is price + sales tax + fees − down payment − trade-in. Sales tax is on the price after the trade-in when the box is ticked (many states), or on the full price when it is not.
The monthly payment uses the standard amortizing-loan formula: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount financed, r the APR ÷ 12 and n the number of months. At 0% APR the payment is P ÷ n. The schedule applies each payment to that month's interest first.
Limits: lenders may differ by a few cents through rounding, first-payment timing and daily interest. Insurance, warranties, gap coverage and add-ons are not included. The APR you are offered depends on the lender.
Frequently asked questions
How is a car payment calculated?
With the amortizing loan formula: payment = P × r ÷ (1 − (1 + r)^−n), using the amount financed, monthly interest rate and number of months.
What is the payment on a $30,000 car loan at 6% for 60 months?
About $579.98 a month.
Does a longer loan lower the payment?
Yes, but it raises the total interest. The term comparison table shows both.
Is sales tax included in the loan?
Here it is added to the amount financed. Some buyers pay it up front instead.
Does a trade-in reduce sales tax?
In many states the tax is charged on the price minus the trade-in; in some it is not. Use the checkbox.
What is APR?
The annual percentage rate: the yearly cost of the loan, including interest and some fees, as a percentage.
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