Car Loan Calculator

The true cost of a car loan includes much more than the sticker price. Our calculator factors in your down payment, trade-in value, sales tax, and dealer fees to show your exact monthly payment and total out-the-door cost.

How to Use This Tool

Enter the car price you are financing.
Enter your down payment amount.
Enter trade-in value if applicable.
Enter your local sales tax rate.
Enter the interest rate offered by your lender.
Enter the loan term in months.
Enter any dealer fees.
Click Calculate.

The Formula

Monthly payment = Loan Amount x [r(1+r)^n] / [(1+r)^n - 1] where r is the monthly rate and n is number of months.

Why It Matters

You found a $35,000 car with a $6,000 trade-in and $5,000 down payment. The dealer offers 5.9% APR for 60 months with $500 in fees, while your credit union offers 4.5% for 72 months. This calculator reveals the dealer's lower monthly payment masks a higher total cost of $4,200 more in interest.