Auto Loan Calculator
Work out the real monthly cost of a car — not just the sticker price. Fold in your down payment, trade-in and sales tax to see your true payment, the amount financed, and how much interest the loan really costs.
Estimates are for illustration and education only — not a loan offer or financial advice. Actual tax rules, fees and APR vary by state and lender.
Monthly payment per $10,000 financed
The payment on $10,000 of auto financing by rate and term — multiply by your amount financed in ten-thousands.
| APR | 36 mo | 48 mo | 60 mo | 72 mo |
|---|---|---|---|---|
| 4% | $295 | $226 | $184 | $156 |
| 6% | $304 | $235 | $193 | $166 |
| 7.5% | $311 | $242 | $200 | $173 |
| 10% | $323 | $254 | $212 | $185 |
| 14% | $342 | $273 | $233 | $207 |
Figures are the fixed monthly payment on $10,000 of financing, rounded. Longer terms lower the payment but raise total interest — and the risk of owing more than the car is worth.
What actually drives your car payment
The sticker price is only the starting point. Your real monthly payment depends on how much you finance — the price plus sales tax, minus your down payment and trade-in — spread across the term at your APR. This calculator assembles all of those pieces so the number you see is the number you'll actually pay.
Down payment and trade-in do double duty
Both reduce the amount you finance, which lowers every monthly payment and the total interest. In most states a trade-in also lowers the taxable amount, shrinking your sales tax too — so it often helps more than an equivalent cash down payment.
The long-term temptation
Stretching to a 72- or 84-month loan makes the monthly payment look affordable, but it's a trap: you pay far more interest, and because cars depreciate fast, you can spend years underwater — owing more than the car is worth. A term of 48–60 months is a safer balance for most buyers.
Rate depends on credit and the car
Auto rates hinge on your credit score and whether the car is new or used — used loans usually cost more. Get pre-approved by a bank or credit union before visiting the dealer; it gives you a rate to beat and real negotiating power.
Don't forget the running costs
The loan is only part of ownership: insurance, fuel, maintenance, and registration add up. Budget for the whole picture, and once the car is paid off, redirect that payment into our compound interest calculator to turn a former expense into savings.
How your car payment is calculated
A car loan is a fixed amortising loan. The amount you finance — price plus tax, minus your down payment and trade-in — is spread across the term at your APR using the standard payment formula.
What raises and lowers your payment
Four numbers decide your monthly cost. Knowing which way each pushes helps you negotiate the deal that actually fits your budget.
Lowers your cost helps
- A bigger down payment or trade-in — less to finance
- A lower APR from strong credit or pre-approval
- A shorter term — less interest overall
- Buying used or a less expensive model
Raises your cost hurts
- Long 72–84 month terms that balloon total interest
- Rolling negative equity from an old loan into the new one
- Dealer add-ons financed at the loan's APR
- A weak credit score pushing your rate up
Beware the underwater trap. Cars depreciate fastest in their first years. On a long loan you can owe more than the car is worth for a long stretch — a problem if it's totaled or you need to sell. A larger down payment and a term of 48–60 months keep you right-side-up sooner.
Get pre-approved first. A rate from your own bank or credit union is a benchmark the dealer has to beat. It turns "what monthly payment do you want?" back into a conversation about price and APR — where the real money is.