How is an auto-loan payment calculated?
A fixed-rate auto payment is calculated from the amount financed, monthly interest rate, and number of monthly payments.
Finance calculator
Auto Loan Calculator
Estimate your monthly car payment, amount financed, sales tax, trade-in equity, fees, total interest, and payoff schedule. Include rebates, negative equity, and optional extra payments for a more complete financing estimate.
Vehicle financing
Estimate your auto loan
Vehicle-tax rules vary by location. Select the tax treatment that matches the applicable rules and verify all dealer figures before purchase.
Estimated results
Required monthly payment
$690.07
Amount financed
$34,850.00
Sales tax
$2,450.00
Trade equity
$0.00
Total fees
$900.00
Total interest
$6,554.31
Total loan payments
$41,404.31
Cash down
$3,500.00
Payment count
60
Auto-loan amortization schedule
| Year | Payments | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $8,280.86 | $6,032.46 | $2,248.40 | $28,817.54 |
| 2 | $8,280.86 | $6,468.55 | $1,812.31 | $22,348.98 |
| 3 | $8,280.86 | $6,936.16 | $1,344.70 | $15,412.82 |
| 4 | $8,280.86 | $7,437.58 | $843.28 | $7,975.24 |
| 5 | $8,280.86 | $7,975.24 | $305.62 | $0.00 |
How to use the auto loan calculator
Enter the negotiated vehicle price rather than only the sticker price. Add your down payment, trade-in value and payoff, rebate, applicable tax treatment, registration and dealer fees, interest rate, and term. The calculator estimates the transaction balance and amortized payment.
Trade equity and negative equity
Trade equity equals the trade-in allowance minus the amount still owed. Positive equity reduces the new transaction balance. Negative equity increases the amount financed unless it is paid separately.
Vehicle sales tax and fees
Auto-sales-tax rules differ by state and locality. Some jurisdictions tax the full selling price, while others permit deductions for a trade-in or rebate. Title, registration, documentation, and dealer charges may also be financed.
Monthly payment versus total cost
A longer term can reduce the required payment but usually increases total interest and may keep the loan balance above the vehicle's value longer. Compare the amount financed and total loan payments—not only the monthly payment.
Auto loan FAQs
How does a trade-in affect the amount financed?
Trade value can reduce the transaction balance, while an existing payoff reduces the available equity. If the payoff exceeds the trade value, negative equity may be added to the new loan.
Is sales tax calculated before or after a trade-in?
Rules vary by jurisdiction. Some locations tax the full vehicle price, while others allow trade-in or rebate deductions. Select the treatment that applies and verify it with local authorities or the dealer.
Do rebates reduce the down payment?
A cash rebate can reduce the transaction balance, but its sales-tax treatment varies. It is separate from money supplied by the buyer as a down payment.
How do extra payments affect an auto loan?
Extra principal may shorten the payoff period and reduce interest. Verify that the lender applies extra funds to principal and does not impose a prepayment penalty.
What is excluded from this estimate?
Insurance, maintenance, fuel, depreciation, warranties not entered as fees, and lender-specific charges are excluded.
Methodology and disclaimer
Numeravo uses a standard fixed-rate monthly amortization model and the selected transaction assumptions. Results are educational estimates—not lender, dealer, tax, legal, or financial advice. Verify the purchase agreement, tax rules, trade payoff, APR, fees, and loan disclosures before signing.
Created and maintained by Numeravo Technologies LLC.