Free Car Loan & Auto Loan Calculator
A free auto loan calculator — estimate your monthly car payment and total interest from the price, down payment, trade-in, rate and term.
How the car loan calculator works
It adds sales tax (charged on the price after your trade-in allowance) and fees to the vehicle price, then subtracts your cash down payment and trade equity to find the amount financed. That balance is amortized over your term to produce the monthly payment.
Worked example: with vehicle price of $34,000, monthly payment of $600 and cash down payment of $4,000, the car loan calculator shows estimated monthly payment of $650.03.
- Vehicle price
- $34,000
- Amount financed
- $32,440
- Sales tax
- $2,040
- Total interest
- $6,562
The formula
Financed = price + sales tax + fees − down − trade equity. Payment = financed × r ÷ (1 − (1 + r)⁻ⁿ).
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.
Questions about the car loan calculator
How is the amount financed calculated?
Vehicle price plus sales tax and fees, minus your down payment and trade-in equity (allowance minus any balance still owed on the trade).
Is a longer auto-loan term a good idea?
It lowers the monthly payment but raises total interest and the risk of being underwater — owing more than the car is worth. Keep the term as short as your budget allows.
How is sales tax applied to a trade-in?
In most states tax is charged on the price after subtracting your trade-in allowance, which is how this calculator treats it. A few states tax the full price.
Is the Car Loan Calculator free to use?
Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.