Auto Loan Calculator
Work out a car payment with trade-in, sales tax, fees and rebates, or the price you can afford for a monthly budget.
Manufacturer or dealer incentives off the price.
Title, registration and documentation.
12 to 96 months
0% to 30%
Other terms
- 48 months
- $ 766.28 a month
- $ 4,781.39 interest
- 60 months
- $ 633.64 a month
- $ 6,018.32 interest
- 72 months
- $ 545.57 a month
- $ 7,280.88 interest
- 84 months
- $ 482.97 a month
- $ 8,569.01 interest
Rebate or low APR
Amortization schedule
Interest is rounded to the currency's smallest unit each period, so the last payment differs slightly.
| Year | Paid ($) | Interest ($) | Principal ($) | Balance ($) |
|---|---|---|---|---|
| 1 | 7,603.68 | 2,064.54 | 5,539.14 | 26,460.86 |
| 2 | 7,603.68 | 1,664.11 | 5,939.57 | 20,521.29 |
| 3 | 7,603.68 | 1,234.73 | 6,368.95 | 14,152.34 |
| 4 | 7,603.68 | 774.32 | 6,829.36 | 7,322.98 |
| 5 | 7,603.60 | 280.62 | 7,322.98 | 0.00 |
Builds a car deal the way a dealer does — price, trade-in, cash rebate, sales tax and fees — and works out the monthly payment, or turns it around to find the price a monthly budget buys. It flags a trade-in worth less than what is owed on it, compares terms side by side, and shows whether a cash rebate or a low-APR offer costs less.
How to use it
- Work out — the payment for a price, or the price for a monthly budget. Tax and fees count against the budget when they are financed, and are paid upfront when they are not.
- Trade-in value and amount owed — the difference is your equity. Positive equity lowers the loan; negative equity is added to it.
- Sales tax and fees — enter your state's or province's rate. Under Tax and fee rules, switches set whether the trade-in reduces the taxed price, whether tax is charged before the rebate, whether fees are taxed, and whether tax and fees are financed or paid upfront. If the price already includes them, leave both at 0.
- Term — 12 to 96 months, with the common terms one click away.
- Rebate or low APR — switch on the comparison and enter the special APR a dealer offers instead of the rebate to compare the total cost of each.
How it works
The taxed price is the vehicle price, less the trade-in where it counts and the rebate where it is not taxed, plus fees where they are taxed, and never below zero. The amount financed is the price plus tax and fees (when financed), less the down payment, the trade-in equity and the rebate. The payment repays it in equal monthly instalments at the APR ÷ 12, rounded to the cent, with the last payment taking any remainder.
In budget mode the amount financed is the budget ÷ the payment per unit borrowed, and the price follows from it. Because the taxed price stops falling at zero, the price is solved on each side of that point.
Taxed price = max(0, price − trade-in − untaxed rebate) + taxed fees
Financed = price + tax + fees − down payment − (trade-in − owed) − rebate
Payment = Financed × i × (1 + i)ⁿ ÷ ((1 + i)ⁿ − 1), i = APR ÷ 12
Examples
A 30,000 car with a trade-in worth less than its loan
With 2,000 down, a trade-in worth 6,000 with 10,000 still owed, 6% sales tax on the price after the trade-in and 500 of fees, at 7% over 60 months: tax is $ 1,440.00, and the $ 4,000.00 of negative equity takes the loan to $ 33,940.00, 113% of the price. The payment is $ 672.05 a month.
How much car 600 a month buys over 72 months
With 3,000 down at 7% and no tax or fees, a 600 budget buys a vehicle priced at $ 38,192.66, for a payment of $ 600.00 and $ 8,007.32 of interest.
A 2,000 rebate or 0.9% APR on a 35,000 car
With 3,000 down over 60 months, taking the rebate at 7% costs $ 38,642.12 in all ($ 594.04 a month); 0.9% APR without the rebate costs $ 35,737.41 ($ 545.62 a month). The low APR saves $ 2,904.71.
60 or 72 months
On 32,000 at 7%, 60 months costs $ 633.64 a month and $ 6,018.32 of interest; 72 months lowers the payment to $ 545.57 but raises the interest to $ 7,280.88, and the loan runs a year longer on a car that keeps losing value.
Rules and sources
US deduction for car loan interest. For tax years 2025 to 2028, interest on a loan for a new vehicle for personal use, finally assembled in the United States, may be deducted up to 10,000 a year, whether or not you itemize. The loan must have been taken out after 31 December 2024 and be secured by a first lien on the vehicle. The limit falls by 200 for each 1,000 of modified adjusted gross income over 100,000 (200,000 on a joint return). Used vehicles and leases do not qualify. The calculator does not work out the deduction.
Sales tax. Whether a trade-in or a rebate lowers the taxed price, and whether fees are taxed, differs by state and province. Set the switches to match yours.
Sources
- 26 U.S.C. 163(h)(4), Qualified passenger vehicle loan interest — U.S. Government Publishing Office
- One Big Beautiful Bill Act: tax deductions for working Americans and seniors (FS-2025-03) — Internal Revenue Service
Reviewed
Frequently asked questions
See also
- Loan Calculator — for any other loan, or to solve for the rate or term.
- Car Loan EMI Calculator — for an Indian car loan, on the on-road price.