Car Loan Calculator
Estimate your monthly auto loan payment after trade-in and down payment, plus total interest over the term.
Understanding the Car Loan Calculator
An auto loan works like any other amortized installment loan — the difference is mainly in how the amount financed is determined. This calculator starts from the vehicle’s price, subtracts your trade-in value and any cash down payment, and finances the remainder over the chosen term.
Trade-ins and down payments both reduce the principal you’re borrowing, which lowers your monthly payment and the total interest paid — the effect is identical whether the reduction comes from cash or a trade-in’s value.
This estimate doesn’t include sales tax, title, or registration fees, which are often rolled into the financed amount in a real purchase — if you plan to finance those too, add them to the vehicle price before calculating.
See it in practice
Example 1 — New car with trade-in and down payment
Example 2 — No trade-in, shorter term
Common questions
You can, but it increases your loan amount and the interest you’ll pay on those fees over time. If possible, paying tax, title, and registration in cash keeps your financed balance — and your interest cost — lower.
It lowers your monthly payment, but stretches out interest and increases the risk of being ‘underwater’ (owing more than the car is worth) for longer, since vehicles depreciate faster than many loans amortize in the early years.
Dealers typically appraise it based on condition, mileage, and market data; you can also check independent valuation guides beforehand so you have a reference point during negotiation.
Often significantly — auto loan rates can vary widely by credit tier. It’s worth checking your rate with more than one lender, including your bank or credit union, before accepting a dealer’s financing offer.
Auto loan rates vary by credit score, loan term, and whether the car is new or used. Borrowers with excellent credit typically qualify for the lowest advertised rates, while used-car loans and shorter credit histories generally carry higher rates.
A shorter term like 60 months means a higher monthly payment but less total interest paid. A longer term like 72 or 84 months lowers the monthly payment but increases total interest and raises the risk of owing more than the car is worth.
A trade-in reduces the amount you need to finance, lowering both your monthly payment and total interest. If you still owe money on the trade-in vehicle, that remaining balance is typically rolled into the new loan instead.
Getting pre-approved gives you a clear budget and a rate to compare against dealer financing offers, which can strengthen your negotiating position. It doesn’t obligate you to use that specific loan if the dealer offers better terms.
Refinancing can save money if you qualify for a meaningfully lower rate than your original loan, often because your credit improved or rates dropped. It’s generally most worthwhile earlier in the loan term, before too much interest has already been paid off.