Car Loan Calculator

Free Car Loan Calculator - Estimate Rates & Payments Instantly.

Vehicle Price ($)

Down Payment ($)

Loan Term (months)

Interest Rate (%)

5.5

Trade-In Value ($)

Sales Tax Rate (%)

Fees ($)

Loan Summary

$421.42

Estimated Monthly Payment

Loan Amount

$22,062.50

Vehicle price + taxes/fees - down payment

Total Interest

$3,222.66

Interest paid over loan term

Total Cost of Loan

$25,285.16

Principal + interest

Total Taxes & Fees

$2,062.50

Sales tax + document fees

Total Vehicle Cost

$30,285.16

Down payment + loan cost + trade-in

Loan Term

60 months

(5 years)

Amortization Schedule

Payment Breakdown

Month	Payment	Principal	Interest	Remaining Balance

Item	Amount

Car Loan Calculator - Complete Guide & FAQs

A car loan calculator helps you estimate monthly payments, total loan cost, and key financing details before buying a vehicle. Input vehicle price, down payment, loan term, and interest rate to plan your budget effectively.

How to Use Our Car Loan Calculator

1. Vehicle Price ($)

Enter the total cost of the car before discounts.

Example: $25,000

2. Down Payment ($)

The initial amount you're paying upfront. Larger down payments reduce loan amounts.

Example: $5,000

3. Loan Term (Months)

Choose repayment period (36-72 months). Shorter terms mean higher payments but less interest.

Example: 60 months (5 years)

4. Interest Rate (%)

Enter the annual interest rate from your lender.

Example: 5.5%

5. Trade-In Value ($) (Optional)

Your old car's value to reduce the loan amount.

Example: $0

6. Sales Tax Rate (%)

Your local sales tax percentage.

Example: 6.25%

7. Fees ($) (Optional)

Additional costs like registration or dealer fees.

Example: $500

Why Use Our Car Loan Calculator?

Accurate Monthly Estimates - Know your exact payment
Total Loan Cost Breakdown - See interest payments
Smart Budget Planning - Adjust terms to fit your budget
No Hidden Costs - Includes all taxes and fees

FAQs About Car Loan Calculators

1. How does a down payment affect my loan?

A larger down payment reduces your loan amount, leading to lower monthly payments and interest costs.

2. What's the best loan term for a car?

Shorter terms (36-48 months): Lower interest but higher payments
Longer terms (60-72 months): Lower payments but more interest

3. How does interest rate impact my loan?

A 5.5% rate on $20,000 for 60 months = $382/month
A 7% rate = $396/month (pay $800+ more in interest)

4. Should I include sales tax and fees?

Yes! Taxes and fees increase the total loan amount.

5. Can I refinance my car loan later?

Yes! Refinancing can lower your payments if rates drop or credit improves.

6. What's the difference between APR and interest rate?

Interest Rate: Cost of borrowing
APR: Includes interest + fees (true loan cost)

7. How does a trade-in value help?

Reduces the loan amount, lowering monthly payments.