Car Loan Calculator
Estimate a monthly car payment from vehicle price, down payment, trade-in value, interest rate and loan term.
About the Car Loan Calculator
Estimate a vehicle loan payment from the car price, down payment, trade-in value, interest rate, and term. It is designed for quick car-buying comparisons.
How to use this calculator
- Enter the vehicle price.
- Add your down payment and trade-in value.
- Enter the interest rate and loan term.
- Review the amount financed, monthly payment, and total interest.
How the calculation works
The calculator subtracts the down payment and trade-in value from the vehicle price to estimate the amount financed, then applies a standard fixed-rate loan payment formula.
Example
For a $30,000 vehicle with $5,000 down and a $7,000 rate over 60 months, the result shows an estimated payment based on the amount financed.
Things to keep in mind
- Taxes and dealer fees can increase the amount you actually finance.
- A larger down payment reduces the financed balance.
- Compare the total cost of financing, not just the monthly payment.
- Insurance and ownership costs are separate from the loan payment.
Frequently asked questions
Does the calculator include a trade-in?
Yes. Enter the trade-in value you expect to apply toward the vehicle.
Are taxes included?
No. Add applicable taxes and fees to your vehicle price or financing amount when planning.
Can I compare 48 and 60 month loans?
Yes. Change the term to compare the payment and total interest.