FREE CAR-BUYING TOOL

Car Payment Calculator

Estimate your monthly car payment before you shop. Enter the vehicle price, down payment, trade-in value, sales tax, APR and loan term to see an estimated amount financed, monthly payment and total interest.

Estimated amount financed$0
Estimated monthly payment$0
Estimated total interest$0
Estimated total loan payments$0

Estimate only. Actual payments may differ because lenders, taxes, registration, fees, trade-in tax treatment and other costs vary. This calculator does not quote or recommend a lender.

How the car payment calculator works

The calculator estimates the amount you finance after applying the vehicle price, estimated sales tax, down payment and trade-in value. It then uses the APR and loan term to estimate the monthly principal-and-interest payment.

For example, a lower APR generally reduces the interest you pay, while a longer loan term can lower the monthly payment but increase the total interest paid. Comparing both the monthly payment and the total cost is important when choosing a loan.

What should you enter?

  • Vehicle price: Use the negotiated vehicle price rather than the seller's advertised monthly payment.
  • Down payment: Enter the cash you plan to put toward the purchase.
  • Trade-in value: Use an estimated trade-in value if you are replacing another vehicle. Actual tax treatment can vary by location.
  • Sales tax: Enter your estimated rate. The calculator is a planning tool, not a tax calculation.
  • APR: Use the annual percentage rate offered by a lender or the rate you are using for planning.
  • Loan term: Compare terms such as 36, 48, 60 and 72 months rather than choosing solely by the lowest monthly payment.

Example: why loan term matters

Suppose two loans finance the same vehicle at the same APR. A 72-month loan will normally have a lower required monthly payment than a 48-month loan, but you may pay interest for longer. Use the calculator to compare the total interest before agreeing to a longer term.

Tip: Get the vehicle's out-the-door price before comparing financing offers. A monthly payment can look attractive even when the total price, loan term or add-ons make the deal more expensive.

Car payment calculator FAQs

Does this calculator include sales tax?

Yes. Enter an estimated sales-tax rate and the calculator includes it when estimating the amount financed. It does not calculate every local tax, registration charge or dealer fee.

Does a larger down payment reduce the monthly payment?

Usually, yes. A larger down payment reduces the amount borrowed, which generally reduces the required payment and the interest charged over the life of the loan.

Is a longer car loan cheaper?

Not necessarily. A longer term can make the monthly payment smaller, but it can increase the total interest paid. Compare the total loan payments as well as the monthly amount.

Can I use this for a used car?

Yes. The same basic loan-payment calculation can be used for new or used vehicles. Your actual APR and available loan terms may differ depending on the vehicle, lender and borrower.

Related CarBuyAdvisor resources

Car Financing Guide → Used-Car Buying Guide → How to Buy a Used Car → How to Negotiate a Car Price → Car Comparisons →

CarBuyAdvisor provides general educational information to help shoppers research vehicle purchases. Calculator results are estimates and should not be treated as a loan offer, financial advice or a guarantee of a lender's terms.