Auto Loan Calculator
Calculate your monthly car payment, evaluate loan term tradeoffs (36 to 84 months), factor in trade-ins and taxes, and analyze accelerated payoff savings.
Vehicle & Loan Details
Adjust vehicle price, down payment, and rate
Agreed purchase price before taxes, fees, and down payment.
Upfront cash paid at purchase.
Net equity allowance from your trade vehicle.
Annual financing interest rate.
Financing duration in months.
Auto Loan Summary
Estimated monthly obligation & financing breakdown
Amount Financed Breakdown
* Sales tax and fees are estimates based on user inputs. Actual taxes vary by state and local municipality.
Compare Monthly Payments & Total Interest Across Loan Terms
Evaluated for $32,700.00 amount financed at 6.5% APR.
| Loan Term | Monthly Payment | Total Interest | Total Loan Cost | Action |
|---|---|---|---|---|
| 36 Months (3 Years) | $1,002.22/mo | $3,380.01 | $36,080.01 | |
| 48 Months (4 Years) | $775.48/mo | $4,522.99 | $37,222.99 | |
| 60 Months (5 Years)Selected | $639.81/mo | $5,688.78 | $38,388.78 | Active |
| 72 Months (6 Years) | $549.68/mo | $6,877.30 | $39,577.30 | |
| 84 Months (7 Years) | $485.58/mo | $8,088.43 | $40,788.43 |
What If?
Change an input to see how the result changes.
What if you pay extra toward principal each month?
See how additional principal contributions shorten your auto loan and eliminate interest charges.
* Note: Extra payment calculations assume continuous principal prepayment. Check with your lender to confirm prepayment is applied directly to principal without fees.
Remaining Auto Loan Balance
Principal balance paydown trajectory by year
Trajectory Summary: By Year 3, your estimated remaining auto loan balance will be $14,363.00 (having paid $559.00 in principal).
Cumulative Principal vs. Interest Paid
Tracking vehicle equity growth versus borrowing charges
Cost Dynamics: Over the full 60-month financing, you will pay $32,700.00 in principal and $5,688.78 in total financing interest.
Amortization Schedule
Inspect monthly principal allocations, interest charges, and declining balance
| Year | Annual Payment | Principal Paid | Interest Paid | Ending Balance |
|---|---|---|---|---|
| Year 1 | $7,677.72 | $5,721.00 | $1,957.00 | $26,979.00 |
| Year 2 | $7,677.72 | $6,104.00 | $1,574.00 | $20,875.00 |
| Year 3 | $7,677.72 | $6,513.00 | $1,165.00 | $14,363.00 |
| Year 4 | $7,677.72 | $6,949.00 | $729.00 | $7,414.00 |
| Year 5 | $7,677.72 | $7,414.00 | $264.00 | $0.00 |
How this Auto Loan Calculator Works
This auto loan calculator computes transparent vehicle financing metrics based on standard US fixed-rate lending formulas.
1. Amount Financed (P)
Vehicle price minus cash down payment and trade-in allowance, plus estimated sales tax and dealer fees.
2. Monthly Payment (M)
Calculated using standard annuity compounding based on annual APR and loan term months.
3. Sales Tax Estimate
Applied to the taxable vehicle purchase amount (vehicle price minus trade-in and down payment).
4. Term Comparison
Evaluates exact monthly payments and lifetime interest costs across 36, 48, 60, 72, and 84 month terms.
Key Financial Assumptions & Disclaimers
- Sales Tax Rate Disclaimer: Sales tax is estimated using the rate entered by the user. Actual vehicle taxation varies by state, county, and municipality, and may depend on state-specific trade-in credit rules, rebates, and fee caps.
- Trade-In Credit: Modeled as reducing the taxable purchase amount per standard simplified conventions. Certain states do not allow trade-in sales tax deductions.
- Fixed APR: Assumes interest rate remains constant over the full loan term. 0% APR promotional financing is fully supported without division errors.
- Prepayment Allocation: Additional monthly payments are assumed to reduce loan principal directly without prepayment penalties.
Frequently Asked Questions
Learn More About This Calculation
Discover how monthly car payments are computed, how sales taxes, dealer fees, and trade-in equity determine the amount financed, and how term length changes total interest costs.
Learn how extra monthly principal payments reduce vehicle loan interest, shorten your financing term, and eliminate negative equity on simple-interest car loans.
Editorial Transparency & Sources
FinoQuick auto loan models adhere to US Consumer Financial Protection Bureau (CFPB) Truth in Lending standards.