Car Loan Calculator
Estimate monthly auto payments with trade-in equity, sales tax, fees, term comparison matrix, and extra principal payoff. Your work stays on this device whenever possible.
How to use Car Loan Calculator
- Enter 'Vehicle Purchase Price ($)', 'Down Payment ($)' and, if relevant, 'Trade-in Value ($)' with 'Owed on Trade-in ($)'.
- Set 'Interest Rate (APR %)' and choose a 'Loan Term' from 36 to 84 months.
- Add 'Sales Tax (%)' and 'Fees & Registration ($)'; an optional 'Extra Monthly Principal ($ optional)' shows how quickly you could pay off.
- Fill the insurance, fuel and maintenance boxes to see an all-in monthly figure.
- Read the loan summary and the 36 to 84 month comparison matrix, then use 'Download Amortization Schedule (CSV)' or 'Copy Loan Summary'.
Worked example
Enter price 30,000, down payment 3,000, APR 6, 60 months, sales tax 0, fees 0 and no trade-in. Financed amount is 27,000 and r = 0.06 ÷ 12 = 0.005. Payment = 27,000 × 0.005 × 1.005^60 ÷ (1.005^60 − 1) ≈ 521.99. Total paid is 521.99 × 60 ≈ 31,319, so interest is about 4,319.
When to use this tool
- Weighing a 60-month loan against a 72-month one before visiting a dealer.
- Seeing how a larger down payment changes the monthly figure and total interest.
Important limitations
Loan interest calculations use the standard monthly compound amortization formula. Actual dealer APR, sales tax rates, documentation fees, and insurance premiums vary by state, municipality, and credit score.
Comparing alternatives
Other options for car loan calculator include Bankrate Auto Loan Calculator, Edmunds Car Payment Calculator, Calculator.net Auto Loan, NerdWallet Car Loan.
ToolkitPoint is not affiliated with those services.
Frequently asked questions
How is a trade-in treated?
Sales tax is charged on the price minus the trade-in value, a common rule but not universal. The equity (value minus amount owed) reduces the loan, and negative equity increases the amount financed.
What does Extra Monthly Principal do?
It adds the amount to every scheduled payment and reports how soon the loan would be cleared and how much interest you would save. The base monthly payment badge stays the same and shows only the contract payment.
What does the comparison matrix show?
The same financed amount and APR are re-run over 36, 48, 60, 72 and 84 months. Each row lists the monthly payment and total interest, plus the difference against the 48-month case for easy comparison.
Does the monthly driving cost include depreciation?
No. That badge sums payment, insurance, fuel and upkeep. The annual figure adds a fixed depreciation guess of 15 percent of the price per year, which is an assumption, not a market value.
Will a lender's quote match?
Possibly not to the cent. Lenders differ in first-payment date and add-ons like GAP cover. At 0 percent APR the payment is simply principal ÷ months.