Auto Loan Calculator
Compare payments, taxes, trade‑in equity, and find the true cost of your vehicle
Vehicle & Purchase
Taxes & Fees
Financing
48-month term saves $1,103
48 months instead of 60 saves $1,103 in interest, but payment rises by $133.59.
72-month term adds $1,124
Extending to 72 months lowers payment by $88.77 but costs $1,124 more in total interest.
Cost Breakdown
86%
Principal
Loan Summary
Loan Balance Over Time
Monthly Payment
$626.32
Total Cost of Ownership
$42,579
loan + down + financed tax + fees
Loan Overview
Secured Loan
Auto loans are secured by the vehicle. If you default, the lender can repossess the car.
How to Use This Auto Loan Calculator
Estimate your monthly car payment, total cost of ownership, and explore term scenarios in under a minute. This calculator is built for US and Canadian buyers who want to compare rates, fees, taxes, and trade-in options before visiting the dealership.
Enter the vehicle price or your budget
Start with the MSRP or negotiated price of the car you want. Switch to Affordability mode if you want to find the most car you can buy for a target monthly payment.
Add your down payment and trade-in
Enter your cash down payment. If you have a trade-in, toggle it on and enter the trade-in value and any remaining loan balance — the calculator handles negative equity automatically.
Set your state or province for sales tax
Select your US state or Canadian province. The calculator auto-fills the correct sales tax rate including trade-in deduction rules. You can always override for local taxes.
Choose your credit tier and loan term
Select your credit score range to auto-fill an APR based on real market data (Experian Q3 2025). Then choose a loan term — use the preset buttons to quickly compare 24 to 84 months.
Review results and explore insights
See your monthly payment, total interest, total cost of ownership, and amortization schedule. The smart insights show how shorter terms, biweekly payments, or negative equity affect your costs.
What This Auto Loan Calculator Shows
This calculator focuses on the numbers that matter when financing a vehicle: monthly payment, total interest, total cost of ownership, sales tax breakdown, and amortization schedule.
Monthly / Biweekly Payment
Your fixed payment amount based on the financed amount (after down payment, trade-in, taxes, and fees), interest rate, and term. Switch between monthly and biweekly to compare schedules.
Total Cost of Ownership
The full cost of purchasing the vehicle: loan repayment + down payment + upfront taxes (if not financed). This is the number buyers should focus on, not just the monthly payment.
Sales Tax Engine
Automatically applies the correct state or provincial tax rate and trade-in deduction rules. In states like Texas and Florida, your trade-in reduces the taxable price. In California and Virginia, it does not.
Amortization Schedule
A period-by-period breakdown showing how each payment splits between principal and interest. The yearly view shows annual totals, and the monthly view shows every single payment.
Auto Loan Payment Formula
Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]- P = Financed amount (price + tax + fees − down − trade-in + loan payoff − rebates)
- r = Periodic interest rate (APR ÷ periods per year)
- n = Total number of payments (term in months × frequency)
Example: $35,000 car with $5,000 down, $2,188 TX sales tax (6.25%), traded-in, at 6.27% for 60 months → financed amount ≈ $32,188, monthly payment ≈ $627.
Auto Loan vs Personal Loan vs Lease
Compare auto loans against personal loans and leasing to understand which financing option makes sense for your situation.
| Feature | Auto Loan | Personal Loan | Lease |
|---|---|---|---|
| Collateral | Vehicle | None (unsecured) | Leasing company owns car |
| Ownership | You own after payoff | N/A — cash received | Return at end of term |
| Typical APR | 4%–22% | 6%–36% | Implicit (money factor) |
| Typical Term | 24–84 months | 12–84 months | 24–48 months |
| Down Payment | Recommended (~10–20%) | None | Drive-off fees common |
| Mileage Limits | None | N/A | 10K–15K/year typically |
| Best For | Buying and keeping 5+ years | Flexible use of funds | Driving new cars every 2–3 years |
Auto Loan Interest Rates by Credit Score (Q3 2025)
Average auto loan APR by credit tier, based on Experian's State of the Automotive Finance Market report. Your actual rate depends on the lender, loan amount, and market conditions.
| Credit Tier | Score Range | New Car APR | Used Car APR |
|---|---|---|---|
| Super Prime | 781–850 | 4.66% | 7.70% |
| Prime | 661–780 | 6.27% | 9.98% |
| Near Prime | 601–660 | 9.57% | 14.49% |
| Subprime | 501–600 | 13.17% | 19.42% |
| Deep Subprime | 300–500 | 16.01% | 21.85% |
Source: Experian Automotive Finance Market Report, Q3 2025. National averages. Rates vary by lender.
Auto Loan Calculator FAQ
Common questions about auto loan calculations, sales tax, trade-ins, credit scores, and US/Canada differences.
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