Travel & Transportation
Car Loan Payment Calculator
Enter vehicle price, payment terms, tax, fees, and trade-in details to estimate the monthly payment and total interest.
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Results
Useful next checks
- Check the inputs before relying on the result.
- Try a second scenario to compare outcomes.
- Read the guide below for context.
# Car Loan Payment Calculator
Use this car loan payment calculator to estimate a monthly vehicle finance payment from price, deposit, trade-in equity, APR, term, tax, and fees.
What this calculator does
The calculator estimates the amount financed, monthly payment, total interest, and trade-in equity. It is useful when comparing loan terms, deposits, or different vehicle prices.
How it works
Trade-in equity is `trade-in value - amount owed`. Amount financed is `vehicle price + sales tax + fees - down payment - trade-in equity`. The monthly payment uses the standard amortized loan formula.
Example calculation
For a 30,000 vehicle, 3,000 down payment, 5,000 trade-in value, 2,000 owed on the trade-in, 7.5% tax, 500 fees, 6.5% APR, and a 60 month term, the calculator estimates a monthly payment of about 523.
How to use the result
Compare the monthly payment with your wider transport budget, including insurance, fuel, maintenance, and depreciation. A longer term can reduce the payment while increasing total interest.
Assumptions and limitations
This is an estimate only, not lending advice or an offer of credit. It does not include insurance, warranties, maintenance, early repayment charges, dealer add-ons, or lender-specific fees unless you include them in the fee field.
FAQs
What if I owe more than my trade-in is worth?
Negative trade-in equity increases the amount financed, which usually increases the monthly payment and total interest.
Does the calculator include sales tax?
Yes, if you enter a sales tax percentage. Set it to zero if tax does not apply or is handled separately.
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Frequently asked questions
Does this include insurance or running costs?
No. It estimates loan repayment only. Use the cost per mile calculator for ownership costs.
How is trade-in equity handled?
Trade-in equity is trade-in value minus the amount still owed. Negative equity increases the amount financed.