Auto Loan Calculator
Calculate your monthly car payment, including sales tax on the purchase, your down payment and trade-in value, and the full loan amortization schedule.
Monthly payment
$523.92
Loan amount
$27,100
Sales tax
$2,100
Total interest paid
$4,335
Show full amortization schedule
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Month 1 | $523.92 | $388.42 | $135.50 | $26,711.58 |
| Month 2 | $523.92 | $390.36 | $133.56 | $26,321.22 |
| Month 3 | $523.92 | $392.31 | $131.61 | $25,928.91 |
| Month 4 | $523.92 | $394.27 | $129.64 | $25,534.63 |
| Month 5 | $523.92 | $396.25 | $127.67 | $25,138.39 |
| Month 6 | $523.92 | $398.23 | $125.69 | $24,740.16 |
| Month 7 | $523.92 | $400.22 | $123.70 | $24,339.94 |
| Month 8 | $523.92 | $402.22 | $121.70 | $23,937.72 |
| Month 9 | $523.92 | $404.23 | $119.69 | $23,533.49 |
| Month 10 | $523.92 | $406.25 | $117.67 | $23,127.24 |
| Month 11 | $523.92 | $408.28 | $115.64 | $22,718.96 |
| Month 12 | $523.92 | $410.32 | $113.59 | $22,308.63 |
| Month 13 | $523.92 | $412.38 | $111.54 | $21,896.26 |
| Month 14 | $523.92 | $414.44 | $109.48 | $21,481.82 |
| Month 15 | $523.92 | $416.51 | $107.41 | $21,065.31 |
| Month 16 | $523.92 | $418.59 | $105.33 | $20,646.72 |
| Month 17 | $523.92 | $420.69 | $103.23 | $20,226.03 |
| Month 18 | $523.92 | $422.79 | $101.13 | $19,803.24 |
| Month 19 | $523.92 | $424.90 | $99.02 | $19,378.34 |
| Month 20 | $523.92 | $427.03 | $96.89 | $18,951.31 |
| Month 21 | $523.92 | $429.16 | $94.76 | $18,522.15 |
| Month 22 | $523.92 | $431.31 | $92.61 | $18,090.84 |
| Month 23 | $523.92 | $433.46 | $90.45 | $17,657.38 |
| Month 24 | $523.92 | $435.63 | $88.29 | $17,221.75 |
| Month 25 | $523.92 | $437.81 | $86.11 | $16,783.94 |
| Month 26 | $523.92 | $440.00 | $83.92 | $16,343.94 |
| Month 27 | $523.92 | $442.20 | $81.72 | $15,901.74 |
| Month 28 | $523.92 | $444.41 | $79.51 | $15,457.33 |
| Month 29 | $523.92 | $446.63 | $77.29 | $15,010.70 |
| Month 30 | $523.92 | $448.87 | $75.05 | $14,561.83 |
| Month 31 | $523.92 | $451.11 | $72.81 | $14,110.72 |
| Month 32 | $523.92 | $453.37 | $70.55 | $13,657.36 |
| Month 33 | $523.92 | $455.63 | $68.29 | $13,201.72 |
| Month 34 | $523.92 | $457.91 | $66.01 | $12,743.81 |
| Month 35 | $523.92 | $460.20 | $63.72 | $12,283.61 |
| Month 36 | $523.92 | $462.50 | $61.42 | $11,821.11 |
| Month 37 | $523.92 | $464.81 | $59.11 | $11,356.30 |
| Month 38 | $523.92 | $467.14 | $56.78 | $10,889.16 |
| Month 39 | $523.92 | $469.47 | $54.45 | $10,419.69 |
| Month 40 | $523.92 | $471.82 | $52.10 | $9,947.87 |
| Month 41 | $523.92 | $474.18 | $49.74 | $9,473.69 |
| Month 42 | $523.92 | $476.55 | $47.37 | $8,997.14 |
| Month 43 | $523.92 | $478.93 | $44.99 | $8,518.20 |
| Month 44 | $523.92 | $481.33 | $42.59 | $8,036.88 |
| Month 45 | $523.92 | $483.73 | $40.18 | $7,553.14 |
| Month 46 | $523.92 | $486.15 | $37.77 | $7,066.99 |
| Month 47 | $523.92 | $488.58 | $35.33 | $6,578.41 |
| Month 48 | $523.92 | $491.03 | $32.89 | $6,087.38 |
| Month 49 | $523.92 | $493.48 | $30.44 | $5,593.90 |
| Month 50 | $523.92 | $495.95 | $27.97 | $5,097.95 |
| Month 51 | $523.92 | $498.43 | $25.49 | $4,599.52 |
| Month 52 | $523.92 | $500.92 | $23.00 | $4,098.60 |
| Month 53 | $523.92 | $503.43 | $20.49 | $3,595.17 |
| Month 54 | $523.92 | $505.94 | $17.98 | $3,089.23 |
| Month 55 | $523.92 | $508.47 | $15.45 | $2,580.75 |
| Month 56 | $523.92 | $511.02 | $12.90 | $2,069.74 |
| Month 57 | $523.92 | $513.57 | $10.35 | $1,556.17 |
| Month 58 | $523.92 | $516.14 | $7.78 | $1,040.03 |
| Month 59 | $523.92 | $518.72 | $5.20 | $521.31 |
| Month 60 | $523.92 | $521.31 | $2.61 | $0.00 |
How it's calculated
Your loan amount starts with the vehicle price, adds sales tax (calculated on the price minus any trade-in value, which is how most states tax a trade-in), then subtracts your down payment and trade-in value.
That loan amount is then amortized using the standard loan payment formula over your chosen term, just like a mortgage or personal loan — each monthly payment is split between interest and principal, with more going to interest early on and more to principal as the loan matures.
Sales tax rates and rules on trade-ins vary by state — check your local rate for a more precise estimate.
Worked example
A $35,000 vehicle with a $5,000 down payment, a $5,000 trade-in, a 7% sales tax rate, financed over 60 months at 6% APR results in $2,100 of sales tax and a $27,100 loan amount.
That loan comes out to a monthly payment of about $523.92, with total interest of $4,335.14 over the life of the loan — bringing the total cost of financing to $31,435.14.
Frequently Asked Questions
- Does my trade-in reduce the sales tax I pay?
- In most states, yes — sales tax is calculated on the vehicle price minus your trade-in value, not the full price. This calculator applies that common rule, but check your state's specific tax treatment for an exact figure.
- Should I include my down payment in the loan amount?
- No — your down payment reduces the amount you need to finance directly. This calculator subtracts it (along with your trade-in value) from the taxed vehicle price to determine your loan amount.
- What loan term should I choose?
- Shorter terms (e.g. 36-48 months) mean higher monthly payments but less total interest paid. Longer terms (60-72+ months) lower your monthly payment but increase the total interest you'll pay over the life of the loan.