🚗Auto Loan Calculator

Calculate monthly car loan payments with trade-in and down payment.

Vehicle Price ($)

Down Payment ($)

Interest Rate (% APR)

Loan Term (months)

About Auto Loan Calculator

Calculate your monthly car payment before stepping foot in a dealership with this Auto Loan Calculator. Enter the vehicle price, down payment, trade-in value, interest rate, and loan term to see an accurate monthly payment and total cost of the loan. Knowing your numbers in advance puts you in a stronger negotiating position.

How to Use Auto Loan Calculator

1
Enter the vehicle details
Input the purchase price, down payment, trade-in value, and any applicable taxes or fees.
2
Set loan terms
Enter the loan interest rate and term length in months.
3
Review payment and total cost
See your monthly payment, total interest, and total amount paid over the loan.

Common Use Cases

Budgeting for a new or used car purchase
Comparing loan offers from different lenders
Deciding between a shorter or longer loan term
Evaluating the financial impact of a trade-in

Frequently Asked Questions

What is a good interest rate for a car loan?

As of recent years, rates for borrowers with excellent credit (720+) typically range from 4–7% for new cars. Used car loans tend to carry higher rates. Always shop multiple lenders.

Should I put more money down on a car?

A larger down payment reduces your monthly payment, lowers the interest you pay, and reduces the risk of being 'underwater' on the loan. Aim for at least 10–20% down.

How does loan term affect total cost?

A longer term (72 or 84 months) lowers your monthly payment but increases total interest paid. A shorter term costs more per month but less overall — and you build equity faster.