Solverly

Auto Loan Calculator

Enter price, incentives, down payment, trade-in, taxes, fees, term, and APR to see your monthly payment, cash due at signing, and lifetime interest — with charts and a full amortization schedule.

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Monthly Pay:
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Total Loan Amount: —
Sales Tax: —
Upfront Payment: —
Total of — Payments: —
Total Loan Interest: —
Total Cost (price + tax + fees + interest): —

How much car can I afford (by monthly payment)?

Enter the monthly amount you want to spend and we’ll estimate the vehicle price you can afford, including taxes and fees the way you prefer to pay them.

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Vehicle Price:
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Total Loan Amount: —
Sale Tax: —
Upfront Payment: —
Total of — Payments: —
Total Loan Interest: —
Total Cost (price, interest, tax, fees): —

How this Auto Loan Calculator works

This calculator estimates your car payment using the standard fixed-rate loan equation and your actual financed amount after applying down payment, trade-in value, taxes, and fees. Results include your monthly payment, total of payments, and total interest so you can compare offers confidently.

Show math

Financed amount (principal) ≈ Price − DownPayment − TradeIn + Fees + Taxes. (Local tax rules vary—some areas tax the net after trade-in, others the gross price.)

Monthly rate r = APR / 12, Term in months n = years × 12.

Payment PMT = r·P / (1 − (1 + r)−n)where P is the financed amount.

Total of payments = PMT × n  | Total interest = (PMT × n) − P

Assumptions: fixed APR, fully amortizing monthly payments, no prepayment penalties, on-time payments, and taxes/fees added as you enter them. Insurance, registration, and maintenance are not included.

Auto Loan FAQ

What is a good APR for a car loan?

APR varies with credit, term, and vehicle age. Strong credit often qualifies for single-digit APRs; longer terms usually cost more.

How much should I put down on a car?

Many lenders suggest 10–20%. More down reduces the financed amount, monthly payment, and total interest—and can help avoid being upside-down.

Should I finance taxes and fees or pay them upfront?

Rolling them into the loan increases the principal and interest paid over time. Paying upfront lowers total cost if cash flow allows.

Is it better to choose a longer term to lower the payment?

Longer terms reduce the monthly payment but increase total interest. If your budget allows, a shorter term often costs less overall.

How do trade-ins affect the loan?

Your trade-in lowers the financed amount. If you have negative equity, it can be rolled into the new loan—raising your balance and cost.

What’s the difference between APR and money factor?

APR is used for loans; leases often quote a money factor. Roughly, APR ≈ MoneyFactor × 2400.

Can I pay off an auto loan early?

Usually yes. Check your contract for prepayment terms. Extra principal payments reduce interest and shorten the term.

Use cases & examples

Example 1 — Lower payment with bigger down

Price $28,000, fees/taxes $2,000, down $5,000, APR 6.0%, 60 months → finance ≈ $25,000. Payment ≈ $483/month; total interest ≈ $3,980. Increasing down to $7,500 drops payment and interest further.

Example 2 — Shorter term vs. longer term

$30,000 at 6.5%: 48 months ≈ $711/month, total interest ≈ $4,128; 72 months ≈ $505/month, total interest ≈ $6,360. Shorter term costs more monthly but saves ≈ $2,232 overall.

Example 3 — Rolling fees into the loan

If you add $2,000 fees to principal at 6.0% over 60 months, you’ll pay interest on those fees too. Paying them upfront reduces the loan cost—use this calculator to compare both approaches.

How car loans really work (and how to pay less)

A vehicle purchase bundles several moving parts: the price of the car, taxes and fees required by your state, money you put down, any trade-in equity or negative equity, and the loan that covers the rest. This calculator separates those pieces so you can see a realistic monthly payment, the cash needed at signing, the amount financed, and the total interest over the life of the loan. The charts and amortization table make it easy to compare terms and spot trade-offs.

What each input means

  • Auto price: The negotiated vehicle price before incentives.
  • Cash incentives: Rebates or discounts that directly reduce the price.
  • Down payment: Cash you pay at signing. Higher down reduces the amount financed.
  • Trade-in value / amount owed: Your old car’s value minus any remaining loan. Positive equity reduces what you need to finance; negative equity increases it.
  • Sales tax %: Many states tax the price after trade-in and incentives. This calculator follows that common approach and lets you override the rate.
  • Title/registration/other fees: Mandatory fees that vary by state and dealer.
  • Include taxes & fees in loan: If checked, those costs are rolled into the loan; otherwise they are paid at signing.
  • Loan term & APR: Length of the loan (in months) and annual percentage rate. The payment formula compounds monthly.

How results are computed

  • Taxable base = price − incentives − trade-in value (not below zero).
  • Sales tax = taxable base × sales-tax rate.
  • Amount financed = price − incentives − down − trade-in value + amount owed on trade-in + (taxes + fees if rolled into the loan).
  • Upfront payment = down + (taxes + fees if not financed).
  • Monthly payment uses the standard amortization formula with monthly compounding.
  • Total cost = (price − incentives) + taxes + fees + total interest.

Ways to lower total cost

  • Compare APRs from a credit union or bank before visiting the dealership.
  • Shorten the term if the payment fits your budget; interest falls sharply with shorter loans.
  • Put rebates toward the price instead of accessories; discounts that reduce principal save the most.
  • If you have negative equity, consider selling the old car privately or paying down the difference before rolling it into a new loan.

Reading the charts & table

  • The pie shows principal vs. interest over the life of the loan.
  • The line chart tracks remaining balance, cumulative interest, and cumulative payments by year.
  • The schedule lists each month’s interest, principal, and ending balance (expandable).

Estimates only. Actual taxes, fees, and lender terms vary by state and dealer. Always confirm with your DMV and lender before signing.