Choose a lower price
$29,054Approximate maximum vehicle price at your target.
Plan your purchase with confidence
Car Payment Calculator
Estimate your monthly car payment, total interest and complete loan cost. Adjust the price, down payment, APR and loan term to find a payment that works for you.
✓ Free to use✓ No sign-up✓ Instant results
01
Tell us about the car
Enter four numbers for an instant estimate. Add trade-in, tax and fees only if you need them.
Down payment$
That is all you need for a quick estimate.Payment updates instantly →
Personalized to your numbers
Make this payment work for you
Set a target and see the exact levers you can change—without hiding the trade-offs.
Current estimate: $616/mo
Increase down payment
+$5,946Additional cash needed with the current rate and term.
Find a lower APR
Not enoughEven 0% APR would not reach this target alone.
Change loan term
72 months$530/mo · $6,625 interest.
See the trade-off clearly
Compare loan terms
| Loan term | Monthly payment | Total interest | Total payments |
|---|---|---|---|
| 36 monthsLowest interest | $965.44 | $3,255.97 | $34,755.97 |
| 48 months | $747.02 | $4,357.01 | $35,857.01 |
| 60 monthsCurrent | $616.33 | $5,480.02 | $36,980.02 |
| 72 months | $529.51 | $6,624.92 | $38,124.92 |
| 84 monthsLowest payment | $467.76 | $7,791.61 | $39,291.61 |
Simple inputs, complete answer
How to use the car payment calculator
Use this free car payment calculator to estimate a monthly auto loan payment, total interest and the full cost of financing. Results update as soon as you change a number.
Enter the car and loan
Add the vehicle price, down payment, APR and number of months.
Make the estimate exact
Optionally include a trade-in, old loan balance, rebate, sales tax and dealer fees.
Compare your options
Review the monthly payment, total interest, different loan terms and ways to lower the payment.
What determines your monthly car payment?
A monthly car payment is mainly determined by the amount financed, the annual percentage rate (APR) and the loan term. The amount financed starts with the car price and can go down with a down payment, rebate or positive trade-in equity. Sales tax, dealer fees and negative trade-in equity can increase it.
This makes the tool useful as a car loan payment calculator, auto loan calculator and car finance calculator: each describes the same basic fixed-rate vehicle-loan calculation.
Car payment calculator with down payment
A down payment is cash paid at the start of the purchase. It reduces the amount borrowed dollar for dollar. A larger down payment normally produces a lower monthly payment and less total interest, while a smaller down payment leaves more cash available today.
Switch between dollars and percent to test different down-payment amounts. The result panel separately shows the amount financed and cash needed today.
Car payment calculator with trade-in
Your true trade-in contribution is the dealer’s offer minus the amount still owed on the old auto loan. If the car is worth $10,000 and you owe $6,000, the $4,000 difference reduces the new loan. If you owe $12,000, the $2,000 negative equity may be added to the new loan.
The calculator shows this effect immediately and never treats the full trade-in value as yours when an old balance remains. For the payoff process, financing costs and contract checks, read our guide to trading in a car with negative equity.
Car payment calculator with tax and fees
Sales tax, title and registration charges, and dealer or document fees can materially change an estimated car payment. Enter the rate and fees from a written dealer quote because vehicle-tax treatment can vary by state and locality.
If the costs are financed, they increase the principal and interest. If they are paid today, they increase cash due upfront without raising the loan payment.
How a monthly car payment calculator works
For a standard fixed-rate vehicle loan, this monthly car payment calculator uses the amortization formula below:
M = P × r(1+r)n ÷ ((1+r)n − 1)
M is the monthly payment, P is the amount financed, r is APR divided by 12, and n is the number of monthly payments. At 0% APR, the amount financed is simply divided by the number of months.
How APR changes an estimated car payment
APR is the yearly cost of borrowing expressed as a percentage. Even when the vehicle price and loan term stay the same, a higher APR raises both the monthly payment and total interest. Enter the APR from your lender or dealer offer rather than an advertised “as low as” rate for a more realistic estimate. Changing only this field also lets you compare rates like a car loan interest calculator.
Your rate can depend on the lender, credit profile, vehicle and market conditions. The calculator never guesses or changes the APR automatically; use the rate shown on your actual offer.
Choosing a 36-, 48-, 60-, 72- or 84-month loan
A longer term usually lowers the monthly car payment but increases the time spent in debt and often the total interest paid. A shorter term generally costs more each month but less overall. Use the comparison table above to evaluate the exact trade-off for your numbers.
The lowest payment is not automatically the best loan. Compare the monthly amount with total interest and the risk of owing more than the car is worth.
How much car can I afford?
Select Find my car budget when you know the maximum monthly payment you can manage. The calculator works backward from your budget, APR, term and down payment to estimate a maximum vehicle price.
A car budget should also leave room for insurance, fuel, maintenance and repairs. Those ownership costs are not part of a loan payment and are not added here.
A simple car loan calculator for comparing the full cost
This simple car loan calculator uses the same essential inputs as a car note calculator, vehicle loan calculator, auto loan payment calculator or car payment estimator: amount financed, APR and loan term.
This calculator combines those functions on one page and adds trade-ins, negative equity, taxes, fees, term comparison, a target-payment optimizer and a downloadable PDF summary.
Worked example
A $35,000 car at 6.5% APR
With $3,500 down and a 60-month loan, $31,500 is financed before tax and fees. The estimated payment is $616.33 per month.
- Vehicle price
- $35,000
- Down payment
- −$3,500
- Amount financed
- $31,500
- Monthly payment
- $616.33
Common questions
Car payment calculator FAQ
How do I calculate a monthly car payment?+
Enter the vehicle price, down payment, APR and loan term. The calculator subtracts the down payment and other credits from the price, adds any financed tax, fees or negative trade-in equity, and applies the standard fixed-rate amortization formula.
What is included in this car payment calculator?+
The basic estimate includes vehicle price, down payment, APR and loan term. You can also add a trade-in and existing loan balance, rebate, sales tax, dealer fees, title and registration fees, and choose whether taxes and fees are financed or paid upfront.
Does a larger down payment lower my car payment?+
Usually, yes. A larger down payment reduces the amount financed, which generally lowers the monthly payment and total interest. It also increases the cash you need at purchase.
How does a trade-in affect a car loan payment?+
The calculator subtracts the trade-in value and adds any amount still owed on the old loan. Positive trade-in equity lowers the new loan; negative equity increases it if rolled into the financing.
Are sales tax and dealer fees included?+
They are included only when you enter them. Use the figures from the dealer’s written quote because tax and fee rules vary. You can finance these costs or pay them upfront.
What APR should I enter in the car loan calculator?+
Use the APR stated in a lender or dealer offer, not only an advertised starting rate. If you do not have an offer yet, test several possible APRs to see how the payment and total interest change.
Is a 72-month car loan a good idea?+
A 72-month term can lower the monthly payment, but it usually increases total interest and may leave you owing more than the car is worth for longer. Compare it with 48- and 60-month options before deciding.
Can I calculate how much car I can afford?+
Yes. Choose Find my car budget, then enter the maximum monthly payment, down payment, APR and loan term. The calculator works backward to estimate a maximum vehicle price.
Does the monthly payment include car insurance?+
No. The result estimates the auto-loan payment only. Insurance, fuel, maintenance, repairs, parking and other ownership costs should be budgeted separately.
Why might my lender’s monthly payment be different?+
Your lender may use different dates, rounding, taxes, fees, optional products or contract terms. This calculator is a planning estimate; compare the results with the final financing agreement.
Can I use this calculator for a used car or a new car?+
Yes. The fixed-rate loan formula is the same for new and used vehicles. Enter the actual price, APR, term, down payment, trade-in, taxes and fees from the deal you are considering.
Choosing a dealer incentive?
Compare Cash Back vs Low Interest →Compare cash back with a promotional low APR
See both monthly payments, total loan payments and the exact rebate needed to match a low-interest financing offer.
Budget beyond the payment
Open Ownership Cost Calculator →Estimate the complete cost to own the car
Add depreciation, financing interest, fuel or electricity, insurance, maintenance and fees to see total, monthly and per-mile ownership costs.
Leasing instead of financing?
Open Lease Calculator →Calculate a car lease from the actual quote
Use MSRP, negotiated price, residual percentage, money factor, term, tax and optional fees to estimate the monthly payment and total lease cost.
Transparent by design
Read the methodology →Our calculation methodology
We use the standard fixed-rate amortization formula. Every tax, fee and trade-in assumption is visible and editable. Calculations happen on your device and are for educational planning—not lending, tax or financial advice.