Car Loan Calculator
Calculate your monthly car payment, total interest, and true cost of the loan including sales tax and trade-in.
Updated April 2026Car Loan Details
Payment Summary
Loan Summary
Amortization Schedule
| Mo. | Principal | Interest | Balance |
|---|---|---|---|
| 6 | $483.17 | $182.15 | $30,742.69 |
| 12 | $500.33 | $164.99 | $27,783.91 |
| 18 | $518.10 | $147.22 | $24,720.04 |
| 24 | $536.50 | $128.82 | $21,547.36 |
| 30 | $555.55 | $109.77 | $18,262.01 |
| 36 | $575.28 | $90.04 | $14,859.99 |
| 42 | $595.71 | $69.61 | $11,337.14 |
| 48 | $616.87 | $48.45 | $7,689.18 |
| 54 | $638.78 | $26.54 | $3,911.65 |
| 60 | $661.44 | $3.86 | $0.00 |
Related guides
Car Loan Calculator with Trade-In
How trade-in value reduces your loan, negative equity, and sales tax savings.
What Is APR on a Car Loan?
APR vs interest rate, good APR by credit score, dealer vs bank financing.
Car Depreciation: How Much Your Car Loses Each Year
Year-by-year depreciation table and how it affects total cost of ownership.
How Car Loan Payments Are Calculated
Car loan payments use the same amortization formula as mortgages: your monthly payment is calculated so that equal payments over the loan term pay off the principal plus all interest exactly. Early payments are mostly interest; later payments shift toward principal.
Sales Tax
Most states charge sales tax on vehicle purchases, typically on the purchase price minus any trade-in allowance. Rates range from 0% (states like Oregon, Montana, Delaware) to over 9% in some counties. Sales tax is usually rolled into the loan amount unless paid upfront — meaning you're financing the tax and paying interest on it.
Trade-In Value
A trade-in reduces the vehicle price before tax is calculated (in most states), reducing your taxable amount and your loan balance. Get multiple trade-in quotes — dealer offers are often 10-20% below private-party values.
Loan Term Trade-Offs
Longer terms (72-84 months) mean lower monthly payments but significantly more total interest — and risk of being "underwater" (owing more than the car is worth) as vehicles depreciate. Most financial advisors recommend keeping car loan terms at 60 months or less.
Disclaimer: For informational purposes only. Not tax, legal, or financial advice.