Free tool
Auto loan calculator
Overview
Estimate a monthly car payment and the total interest. Enter the price, sales tax, down payment, trade-in value, interest rate and loan length.
Want this tracked every month? Wrenfold keeps your budget on your own device. See Wrenfold
Excel workbook · $14
Car Buying and Total Cost Comparer
Compare cars on what they really cost over the years you will keep them, not just the monthly payment.
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Put this tool on your own site
Free to use. Paste this where you want it to appear. It runs in the visitor's browser, so nothing they enter is sent to us, and the line under it links back to this page.
How it works
How it works
The amount financed is price + sales tax - down payment - trade-in. The monthly payment is that amount times the monthly rate divided by 1 - (1 + monthly rate) to the power of minus the number of months. At a 0% rate it is the amount divided by the months.
FAQ
About this calculator
Does sales tax get financed?
It can be. Rules differ by state and by lender, so this calculator adds tax to the price and lets you subtract what you pay up front.
Are fees included?
No. Title, registration, documentation and dealer fees are not included. Add them to the price if you will finance them.
Why is the total higher than the price?
Interest. A longer term lowers the monthly payment but usually raises the total interest paid.
Is anything saved?
No. The math runs in your browser and nothing you enter is sent to us.
Is this a quote or advice?
No. It is a calculator for general information. Check results against your own figures before you rely on them.
Read the guide: Total Cost of Owning a Car: Compare Two Cars. Related: business loan payment calculator, simple interest calculator. See all free tools. More free tools: HOA dues per unit calculator, Deadhead percentage and revenue per mile calculator, Short-term rental break-even occupancy calculator, or see all free tools.
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General information, not tax or legal advice. How we write and check our tools.
Excel workbook
Car Buying and Total Cost Comparer
Compare cars on what they really cost over the years you will keep them, not just the monthly payment.
Also in the Home and Big Purchase Bundle: 4 products for $55 instead of $76 separately.
Wrenfold
Keep this going in a budget you own
Wrenfold keeps accounts, budgets, bills and goals on your own computer or iPhone, with budgets that roll over each month. Bring in a bank CSV or your You Need A Budget file, or keep balances current through SimpleFIN Bridge, a separate service you sign up for. $79 once, with an optional $5 a month for updates; the app keeps working if you stop. The free trial records up to 60 entries.
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