DIY Cost Tools
Auto Loan Calculator
FINANCIAL CALCULATOR
Estimate a vehicle loan amount, fixed monthly payment, finance charge, and total paid.
How it works
Enter the purchase price, credits, estimated tax and fees, APR, and term. The calculator treats the financed balance as a fully amortizing fixed-payment loan.
Formula
Financed amount = price × (1 + tax rate) + fees − down payment − trade-in. Monthly payment uses the standard amortization formula.
Worked example
A $32,000 vehicle with $5,000 down, 7% tax, $700 in financed fees, 6.5% APR, and a 60-month term finances $29,940. The live result shows the corresponding payment and finance charge.
Important limits
- Actual tax treatment of trade-ins and rebates varies by jurisdiction.
- APR can include certain fees and may differ from the note interest rate.
- Insurance, maintenance, depreciation, and registration renewals are excluded.
Frequently asked questions
Can I compare loan terms?
Yes. Change the number of months to see the payment and total finance charge tradeoff.
Is a longer term cheaper?
It usually lowers the monthly payment but can increase total interest and the risk of owing more than the vehicle is worth.
Sources and review notes
The Consumer Financial Protection Bureau explains that amortizing auto-loan payments divide between principal and interest. Last reviewed September 29, 2026.