Car Loan Calculator
Work out your monthly car payment with down payment, trade-in and sales tax included.
How car loan payments work
Your payment depends on the amount financed, the interest rate and the loan length. Sales tax is usually added to the price, so we include it. Your down payment and trade-in are subtracted before the loan is calculated.
Choosing a loan length
Longer loans such as 72 or 84 months have smaller payments but cost much more in interest, and you may owe more than the car is worth for longer. Aim for 60 months or less if you can.
Worked example
Last reviewed November 2026. Formulas are standard and shown in the sections above; results are estimates.
Tips and common mistakes
- Get pre-approved by a bank or credit union before visiting a dealer.
- Compare the total cost, not just the monthly payment.
- Add insurance, fuel and maintenance to your real budget.
Learn more
Frequently asked questions
Should I include fees?
Registration and dealer fees are often rolled in. Add them to the vehicle price to include them.
What rate can I expect?
It depends on your credit score and whether the car is new or used. Compare at least three offers.
Is a down payment worth it?
Yes. It reduces interest and helps avoid owing more than the car is worth.
Money guides for this topic
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Read guide →Buying a Home or Car: The Math Before You Sign
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Open calculator →Results are estimates and not financial advice.