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Auto Loan Calculator

The sticker price is rarely what you finance. A down payment and a trade-in both shrink the loan, and the monthly payment depends on what is left. This auto loan calculator subtracts your down payment and trade-in credit from the vehicle price, then applies the standard amortizing-loan formula to the balance. The result is the monthly principal-and-interest payment plus the total interest over the term. It does not include sales tax, title, registration, or dealer fees, which vary by state and can be rolled into the loan or paid separately.

Calculate

Default result: $425.32

The agreed price of the car before tax and fees.

Cash you put down up front.

Credit for a vehicle you are trading in (0 if none).

Auto Loan Calculator · Materials

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Monthly payment

$425.32

30000 × 5000 × 3000 × 6 × 5

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Amount financed
$22,000.00
Total interest paid
$3,519.30
Total paid over the loan
$25,519.30

Est. total

$425.32

Estimate — confirm w/ supplier · calculators.dev

$425.32

This calculator provides estimates for general informational purposes only and is not financial, investment, tax, or legal advice. Results are projections based on the figures you enter and the stated assumptions, and actual outcomes will differ. Consult a qualified financial professional before making borrowing, saving, or investment decisions.

Reviewed by the calculators.dev team · Last updated 2026-06-24

Formula reviewed against Calculator.net Auto Loan Calculator — nets down payment and trade-in before applying PMT

How to calculate

Enter the vehicle price, your down payment, and any trade-in value, then the interest rate and term. The calculator computes the amount financed as price minus down payment minus trade-in, converts the annual rate to monthly, and applies the payment formula. A $30,000 car with $5,000 down and a $3,000 trade-in finances $22,000; at 6% over 5 years that is about $425.32 a month. Increasing the down payment or trade-in lowers both the financed amount and the payment.

financed = price − down payment − trade-in. Then M = financed · i(1 + i)^n / ((1 + i)^n − 1), where i is the monthly rate (annual ÷ 12) and n is months (years × 12). Total interest is M × n − financed. Taxes and fees are excluded; if your dealer rolls them into the loan, add them to the price before entering it.
Example calculation

A $30,000 car with a $5,000 down payment and a $3,000 trade-in leaves $22,000 to finance. At a 6% annual rate over 5 years the monthly payment is about $425.32, and you pay roughly $3,519 in interest over the loan. Putting more down or trading in a more valuable car lowers the amount financed and the payment.

monthly
$425.32
financed
$22,000.00
totalInterest
$3,519.30
totalPaid
$25,519.30

Assumptions

  • The amount financed is price minus down payment minus trade-in; taxes, title, and fees are not included.
  • A trade-in is treated as a credit toward the purchase, not as separate cash, and is assumed to be free of any loan balance (negative equity is not modelled).
  • The rate is fixed for the whole term and the loan fully amortizes.

Common mistakes

  • Financing taxes and fees without adding them to the price, which understates the payment.
  • Ignoring negative equity — if you owe more on the trade-in than it is worth, the shortfall is usually added to the new loan.
  • Stretching the term to lower the payment, which can leave you owing more than the car is worth for longer.

Frequently asked questions

How does a trade-in lower my payment?

The trade-in value is credited against the price, so you finance less. A $3,000 trade-in on a $30,000 car with $5,000 down means you finance $22,000 instead of $25,000, which lowers the monthly payment.

Should I include sales tax in the price?

Only if you are financing it. Many buyers roll tax, title, and fees into the loan; if so, add them to the vehicle price before entering it so the payment reflects the full financed amount.

Is a longer car loan a good idea?

A longer term lowers the monthly payment but increases total interest and the time you spend owing more than the car is worth. Shorter terms cost more per month but less overall.

What if my trade-in still has a loan on it?

If you owe more than the trade-in is worth, that negative equity is usually added to your new loan. This calculator assumes the trade-in is fully owned, so reduce the trade-in value by any remaining balance.

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