Auto Loan Calculator

Estimate your monthly car loan payments with interest, down payment, and trade-in value.

Loan Amount ($)

Annual Interest Rate (%)

Loan Term (Years)

Down Payment ($)

Trade-in Value ($)

Sales Tax (%)

Extra Monthly Payment ($)

How Does an Auto Loan Work?

An auto loan is a type of financing that allows you to purchase a vehicle by making monthly payments over time. The loan amount is usually the car price minus the down payment and trade-in value.

Key Factors in Auto Loans

Loan Amount: The total amount borrowed after down payment and trade-in.
Interest Rate: The percentage charged annually by the lender.
Loan Term: The number of years over which you repay the loan.
Down Payment: The upfront payment made to reduce the loan amount.
Trade-in Value: The amount deducted if trading in an old vehicle.
Sales Tax: A percentage of the vehicle price added to the total cost.

Why Use an Auto Loan Calculator?

Using an auto loan calculator helps estimate your monthly payments and total cost before making a financial commitment. It allows you to compare different loan options and make informed decisions.