Auto Loan Calculator
Calculate your car payment including sales tax, fees, trade-in, and negative equity, and compare 36- to 84-month terms side by side.
Monthly payment
$665.32
Amount financed
$33,600.00
Total interest
$6,319.22
| Vehicle price | $35,000.00 |
| Sales tax | $2,100.00 |
| Fees | $500.00 |
| Down payment | -$4,000.00 |
| Net trade-in (value minus amount owed) | $0.00 |
| Amount financed | $33,600.00 |
| Total cost of the car (price, tax, fees, and interest) | $43,919.22 |
Same loan, different terms
| Term | Monthly payment | Total interest |
|---|---|---|
| 36 months | $1,037.47 | $3,748.94 |
| 48 months | $804.59 | $5,020.50 |
| 60 months | $665.32 | $6,319.22 |
| 72 months | $572.85 | $7,644.96 |
| 84 months | $507.11 | $8,997.58 |
Uses the same rate for every term. In practice, lenders usually charge higher rates on longer terms, so the gap in total interest is often larger than shown.
About this calculator
A car's sticker price is only the starting point for the loan. This calculator builds the amount you'll actually finance the way a dealer does: vehicle price plus sales tax and fees, minus your cash down payment and the net value of any trade-in. It then shows the monthly payment, total interest, and the full cost of the car once interest is included.
Trade-ins are handled both ways. If your trade-in is worth more than you owe on it, the difference reduces the loan. If you owe more than it's worth (negative equity, or being "upside down"), that shortfall gets added to the new loan, which is easy to miss at the dealership and can leave you owing more than the new car is worth from day one. In most US states sales tax is charged on the price after the trade-in credit, which is the default here, but a few states tax the full price.
The term comparison table is there because longer loans have become common, and they're tempting: stretching to 72 or 84 months makes the monthly number noticeably smaller. The table shows what that costs in extra interest, and in practice lenders often charge a higher rate for longer terms too, which widens the gap further.
Frequently asked questions
- How long should a car loan be?
- Shorter is cheaper overall, and many financial planners suggest keeping auto loans to 60 months or less. Longer terms lower the payment but increase total interest and make it more likely you'll owe more than the car is worth for much of the loan, since cars lose value quickly in the first few years.
- What is negative equity?
- Negative equity means you owe more on a car than it's worth. If you trade in a car with negative equity, the difference is usually rolled into your new loan, so you start the new loan already owing more than the new car's value. Paying down the old loan or waiting to trade in avoids carrying that debt forward.
- Does a bigger down payment help?
- Yes. It reduces the amount financed, the total interest, and the risk of negative equity. A common guideline is to put down around 10% to 20% of the price, although any amount helps.
- What fees should I include?
- Typically title and registration fees charged by your state, plus any dealer documentation fee. Fees vary widely by state and dealer, so ask for an itemized out-the-door price before signing. Optional add-ons such as extended warranties or GAP insurance also increase the amount financed if you roll them into the loan.