A car payment calculator computes your exact monthly auto loan payment including sales tax, dealer fees, and trade-in value. Enter your vehicle price, down payment, interest rate, and loan term to see your monthly payment, total interest paid, and full cost of the loan. Estimates are for informational purposes. Actual payments vary by lender, location, and individual factors.
Vehicle & Loan Details
US avg ~7%. Enter 0 if already included in price.
Monthly Payment
Principal + interest only
Total Loan Amount
Total Interest Paid
Loan Breakdown
Amortization — First 12 Months
| Mo | Payment | Principal | Interest | Balance |
|---|
Enter vehicle details and click Calculate Payment to see your monthly payment and amortization schedule.
How to Use the Car Payment Calculator
The car payment calculator computes your exact monthly auto loan payment using the full amortization formula, including sales tax, dealer fees, and trade-in credits. Unlike dealership payment calculators, this tool shows you the complete picture — total interest paid, total loan cost, and how each payment breaks down month by month.
Step 1: Enter the Vehicle Price
Start with the negotiated purchase price — not the MSRP sticker. Before visiting the dealer, research fair market value on sites like KBB or CarGurus so you know what price to target. The calculator adds sales tax and fees on top, so enter only the pre-tax vehicle price.
Step 2: Add Down Payment and Trade-In
Enter your cash down payment and any trade-in credit separately. Both reduce your loan amount. A $5,000 down payment on a $30,000 car at 6% APR for 60 months saves you about $500 in interest and reduces your monthly payment by $97. The 20% down rule — putting 20% of the purchase price down — protects you from going underwater on the loan.
Step 3: Enter Sales Tax and Fees
Sales tax rates vary widely by state — from 0% in states like Oregon and Montana to over 9% in Tennessee and Louisiana. Dealer doc fees are typically $100–$900. Both are usually financed into the loan, which means you pay interest on them too. The calculator shows exactly how much tax and fees add to your total cost.
Step 4: Choose Loan Term and Interest Rate
The interest rate you get depends on your credit score and the lender. Excellent credit (750+) typically qualifies for 5–6% APR; fair credit (620–680) often sees 10–15%. Loan term dramatically affects total cost: a $25,000 loan at 7% APR costs $4,935 in interest over 60 months but $7,026 over 84 months — the longer term costs $2,091 more for the same car.
Understanding the Amortization Schedule
The amortization table shows how each payment splits between principal and interest. In early months, most of your payment goes to interest. As the loan ages, more goes to principal. This is why making extra payments early saves the most interest — each extra dollar paid early eliminates a chain of future interest charges.
FAQ
How is a monthly car payment calculated?
A monthly car payment is calculated using the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount (vehicle price minus down payment and trade-in, plus taxes and fees), r is the monthly interest rate (APR divided by 12), and n is the number of months. This tool does that math instantly.
Does sales tax increase my car payment?
Yes. In most states, sales tax is added to the vehicle price and financed as part of the loan. On a $35,000 car in a state with 8% sales tax, that adds $2,800 to the loan amount — increasing your monthly payment by about $50/month on a 60-month loan at 6%.
What is a good car payment?
Financial guidelines recommend keeping your total monthly car costs (payment plus insurance) at or below 15-20% of your monthly take-home pay. For someone taking home $5,000/month, that is $750-1,000 total — so a car payment of $500-600 after insurance is reasonable.
Is this car payment calculator free?
Yes, completely free with no signup required. All calculations run locally in your browser — no data is sent to any server.
Is my data safe?
Absolutely. Everything runs in your browser. No financial information you enter is ever transmitted or stored anywhere.
What loan term should I choose?
Shorter loan terms (36-48 months) cost significantly less in total interest but have higher monthly payments. A $30,000 loan at 6% APR costs $4,800 in interest over 60 months but only $2,850 over 36 months. Choose the shortest term where the monthly payment fits your budget comfortably.
What is a doc fee on a car purchase?
A dealer documentation fee (doc fee) covers paperwork processing and typically ranges from $100 to $900 depending on the state and dealership. Some states cap doc fees. It is usually non-negotiable but should be disclosed upfront.