Car Loan Calculator

Work out your monthly car payment with trade-in, sales tax, fees and rebates included.

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Trade-In (Optional)
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Taxes and Fees
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Does Your State Tax Only the Difference After Trade-In?
Fractions and decimals both work.
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Per Month
Amount financed
Sales tax
Trade-in equity
Total interest
Total of payments
Total cost of the car
Payoff

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How to Calculate a Car Payment

Start from the price, add sales tax and fees, and subtract what you put toward the car: cash down, rebates and trade-in equity. What's left is the amount financed, and the payment comes from the standard loan formula.

Taxable price = price − trade-in value (in states with a trade-in credit)
Amount financed = price + tax + fees − down − rebates − trade-in value + amount still owed on trade
Monthly payment = A × r × (1 + r)n ÷ ((1 + r)n − 1)

Worked Example

Tips

If you owe more on your trade than it's worth (negative equity), that amount gets rolled into the new loan. A handful of states tax the full price even with a trade-in, and how rebates are taxed also varies, so check your state's rules. Longer terms lower the payment but cost more interest and can leave you owing more than the car is worth.