Free Car Payment Calculator
This car payment calculator works out your monthly auto loan payment, including sales tax, fees, your down payment and trade-in, and shows the interest you will pay.
How the car payment calculator works
- Sales tax = (price − trade-in) × tax rate. Some states tax the full price; check the car sales tax calculator for your state.
- Amount financed = price + sales tax + fees − down payment − trade-in.
- Monthly payment = amount financed × r ÷ (1 − (1 + r)−n), with r = APR ÷ 12 and n = months.
- Extra payments go straight to the balance, so the auto loan ends sooner and costs less interest.
Car payment by loan amount and term (7% APR)
| Loan | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| $15,000 | $463 | $359 | $297 | $256 | $226 |
| $20,000 | $618 | $479 | $396 | $341 | $302 |
| $25,000 | $772 | $599 | $495 | $426 | $377 |
| $30,000 | $926 | $718 | $594 | $511 | $453 |
| $40,000 | $1,235 | $958 | $792 | $682 | $604 |
| $50,000 | $1,544 | $1,197 | $990 | $852 | $755 |
How the interest rate changes a $30,000 auto loan
| APR | 60-month payment | Total interest |
|---|---|---|
| 4% | $552.50 | $3,150 |
| 6% | $579.98 | $4,799 |
| 8% | $608.29 | $6,498 |
| 10% | $637.41 | $8,245 |
| 12% | $667.33 | $10,040 |
A better credit score usually means a lower APR. On a $30,000 loan, the gap between 4% and 12% is several thousand dollars over five years.
Before you sign
- Check the price fits your income with the car affordability calculator.
- Compare the payment with leasing in the car lease calculator.
- See how much value the car will lose with the car depreciation calculator.
Frequently asked questions
How is a car payment calculated?
The car payment calculator uses the standard loan formula: payment = loan × r ÷ (1 − (1 + r)^−n), where r is the APR divided by 12 and n is the number of months. The loan is the price plus sales tax and fees, minus your down payment and trade-in.
What is the monthly payment on a $30,000 car?
With $3,000 down, 7% sales tax, $500 in fees and a 60-month auto loan at 7% APR, the payment is about $586.12 a month. Stretching to 72 months lowers it to $504.65 but adds interest.
Does a down payment lower my car payment?
Yes. Every dollar you put down is a dollar you do not borrow, so the payment and the total interest both fall. A trade-in works the same way and, in most states, also lowers the sales tax.
How much do extra payments save on an auto loan?
Paying an extra $100 a month on the example loan clears it in 50 months instead of 60 and saves about $969.85 in interest.
Should I include sales tax in my auto loan?
Many buyers roll the sales tax and fees into the loan. It is convenient, but you pay interest on them. Paying tax and fees up front keeps the loan smaller.