Auto Loan Calculator
Calculate your monthly car payment and total loan cost before you buy.
Get Pre-approved for an Auto Loan
Compare rates from multiple lenders before you visit the dealership. Save thousands.
Get Auto Loan QuotesWe may earn a referral fee if you apply for a loan. This does not affect our calculator results.
How to Use This Auto Loan Calculator
Enter the vehicle price, your down payment, trade-in value (if any), interest rate, and loan term. The calculator shows:
- Monthly payment — your fixed monthly obligation
- Total interest — how much you pay the lender over the life of the loan
- Total cost — the full amount including the car price, taxes, and interest
Sales tax is applied to (vehicle price - trade-in value), which is the standard in most states.
Tips for Getting the Best Auto Loan
- Get pre-approved — know your rate before walking into the dealership.
- Put at least 20% down — avoids being "upside down" on the loan.
- Keep the term under 60 months — longer terms mean more interest and negative equity risk.
- Don't finance taxes and fees — pay them upfront if possible.
- Negotiate the car price, not the monthly payment — dealers can manipulate terms to hit any monthly number.
Frequently Asked Questions
What is a good interest rate for a car loan?
As of 2026, excellent credit (750+) borrowers can expect 4-6% on new cars and 5-8% on used cars. Good credit (650-749) typically gets 6-10%. Subprime borrowers may see 10-20%+.
Should I lease or buy?
Buying builds equity. Leasing gives lower monthly payments but no ownership. If you drive less than 12,000 miles/year and like new cars every 3 years, leasing may make sense. Otherwise, buying is usually the better financial decision.
How much should my car payment be?
Financial experts recommend keeping total vehicle expenses (payment + insurance + gas + maintenance) under 15-20% of your take-home pay. Use this calculator to find a payment that fits your budget.
Disclaimer
This calculator is for educational and estimation purposes only. It does not constitute financial, tax, or investment advice. Results are estimates based on the inputs you provide and may not reflect your actual situation. Consult a qualified financial advisor, tax professional, or lender before making important financial decisions.