Auto

Simple Auto Loan Calculator

Estimate a vehicle’s amount financed, monthly payment, total payments, and total interest from the purchase price, trade-in value, down payment, sales tax, annual rate, and number of monthly installments.

Estimated result

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Estimates are for planning only. Confirm the rates, taxes, fees, and contribution rules that apply to you.

Input parameters

Vehicle price: Negotiated purchase price.
Down payment: Cash paid upfront.
Trade-in value: Credit for the traded vehicle.
Sales tax rate: Tax percentage on the taxable vehicle price.
Annual interest rate: Nominal annual loan rate.
Loan term: Number of monthly installments.

Understanding the results

Monthly payment: Fixed estimated vehicle payment.
Amount financed: Net taxed price after trade-in and down payment.
Total interest: Payment total above amount financed.

Calculation principle

The financed vehicle cost is calculated first and then amortized using a fixed monthly rate and payment count.

Read and validate the entered values.
Convert percentages and time periods into compatible units.
Apply the formulas below and present the calculated results.

Formulas

Amount financed P = (Price − Trade-in) × (1 + Tax rate) − Down payment

Payment M = P × r(1 + r)^n / ((1 + r)^n − 1)

Symbols refer to the corresponding input and result labels shown above.

How to use this calculator

Enter your figures, choose any available options, and select Calculate. You can change the inputs as often as you like to compare scenarios.

Planning note

Results are estimates for education and planning. Taxes, lender rules, fees, and investment returns can vary, so verify important decisions with a qualified professional.