About the Auto Loan Calculator
A car's monthly payment depends on more than the sticker price. This calculator adds sales tax, then subtracts your down payment and trade-in to find the amount financed — and shows the monthly payment and total interest over the term.
How it’s calculated
Amount financed = price + sales tax − down payment − trade-in. The monthly payment uses the standard amortizing-loan formula on that amount at your APR over the number of months.
Example calculation
A $35,000 vehicle with $3,000 down at 7.5% over 60 months has a payment of about $641, financing $32,000.
Frequently asked questions
Does a bigger down payment help?
Yes — it lowers the amount financed, so both your monthly payment and total interest fall, and it reduces the risk of owing more than the car is worth.
Is sales tax financed?
In many states, yes — tax is added to the amount financed. This calculator includes it in the loan; check your local rules.
This calculator provides estimates for educational purposes and should not be considered financial, tax, or legal advice. Your actual figures may vary with lender terms, fees, and market conditions.