Free Auto Loan Calculator
Monthly payment, sales tax, trade-in, and a full payoff schedule — see the real cost of a car loan, updated as you type.
Estimates only, not financial advice. Confirm exact figures with your lender.
| Year | Principal paid | Interest paid | Remaining balance |
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Frequently Asked Questions
How is my monthly car payment calculated?
Monthly payment uses the standard amortization formula: M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the amount financed, r the monthly interest rate (APR ÷ 12), and n the number of monthly payments.
Does this include sales tax?
Yes — enter your local sales tax rate and it's calculated on the vehicle price minus your trade-in value (the common method in most states), then added to the amount financed.
How does a trade-in affect my loan?
Your trade-in value is subtracted from the vehicle price before financing, and in most states it also reduces the taxable amount, lowering both your loan balance and your sales tax.
How much can extra payments save me?
Extra principal payments reduce your balance faster, cutting the interest that accrues each month after. Enter an extra monthly amount to see the reduced payoff time and total interest saved.
Is a longer loan term always a bad idea?
Not necessarily — a longer term lowers your monthly payment, but you'll typically pay more total interest over the life of the loan. This is an estimate for planning purposes only, not financial advice; compare offers from your lender before deciding.