Car Loan Calculator
Car loan calculator: monthly payment, total interest and payoff date for any car loan, with tax, fees and trade-in. Free, no sign-up, and it runs in your browser.
Dedicated page: /en/car-loan-calculator
Aim for 20% on a new car and 10% on a used car.
The payoff amount on your old car loan, if any. It is added to the new loan.
Charged on the vehicle price in most states. Some states give a trade-in credit; this calculator taxes the full price, so check your state rule.
Destination, title and registration.
Default checked 10 Nov 2026: 7.06% for a 60-month new car loan (Bankrate survey, 4 Nov 2026); 7.47% for a 48-month used car loan. Your rate depends on your credit score. Check the current value here.
Longer terms lower the payment but raise the total interest and the time you owe more than the car is worth.
Estimate only, not financial advice. APR is the rate plus fees; compare APRs, not just rates. A new car loses about 20% of its value in the first year, so a long loan can leave you owing more than the car is worth. Keep total vehicle costs under 10% of your gross monthly income (the 20/4/10 rule: 20% down, no more than 4 years, under 10% of income).
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Quick answer
A car loan calculator works out your monthly payment, total interest and payoff date. Enter the car price, down payment, trade-in, sales tax, fees and APR, pick a term, and it shows the payment, the full cost of the car, a term comparison and a year-by-year schedule.
About this Car Loan Calculator
Car loan calculator: monthly payment, total interest and payoff date for any car loan, with tax, fees and trade-in. It is one of the Money and Finance on ToolUstad, and like every tool here it runs entirely in your browser: nothing you type, paste or open is uploaded to a server, and there is no sign-up or usage limit.
What is a car loan calculator?
A car loan calculator turns a sticker price into the number that matters: what you pay every month, how much interest you pay over the life of the loan, and when the loan is gone. A $35,000 car is not a $35,000 decision. With $5,000 down, a $3,000 trade-in, 7.5% sales tax and $500 of fees, you finance $30,125. At 7.06% APR over 60 months the payment is $597.36 a month, the interest is $5,716.86, and the full cost of the car is $43,841.86.
How a car loan payment works
The payment depends on three numbers: the amount financed, the APR and the term. The monthly rate is the APR divided by 12. A bigger down payment cuts the amount financed, which cuts both the payment and the interest.
Choosing a loan term
Short terms cost less interest and build equity faster. On a $30,125 loan at 7.06%, 36 months costs $3,390.97 in interest and 84 months costs $8,141.29, more than twice as much. A long term is risky because a new car loses about 20% of its value in the first year, so a slow loan can leave you owing more than the car is worth, which is called being upside down.
Best practices
- Put 20% down on a new car, 10% on a used car: it keeps you from being upside down and cuts the interest.
- Keep the term at 48 months or less when you can: the payment is higher, but the interest and the depreciation risk are much lower.
- Compare the total cost, not just the payment: a low payment on a long term is usually the most expensive loan on the lot.
Common mistakes to avoid
- Shopping by monthly payment alone, which hides a long term and thousands of dollars of interest.
- Rolling negative equity from an old car into a new loan, which starts the new loan underwater.
- Skipping the sales tax and fees in the budget, which adds $3,000 or more to a $35,000 car.
- Taking an 84-month loan on a car that loses 20% of its value in year one.
Who is the car loan calculator for?
Anyone buying a car with a loan: first-time buyers comparing two cars, shoppers deciding between a 48-month and a 60-month term, and owners checking whether an extra $100 a month is worth it.
Learn: how to use the Car Loan Calculator
- Enter the car price, your down payment and any trade-in value.
- Add the sales tax rate, fees, and whether the fees roll into the loan.
- Check the APR and term: the default is the current Bankrate 60-month average, 7.06%.
- Read the monthly payment, total interest and payoff date, then compare terms from 24 to 84 months.
- Use reverse mode to find the most expensive car a monthly payment can cover.
Features
- Monthly payment, total interest, total paid and payoff date
- Down payment, trade-in value and amount still owed on the trade-in
- Sales tax and title, registration and dealer fees, with a roll-into-loan switch
- APR field with the current average checked on 10 Nov 2026, plus any rate you type
- Term comparison table for 24, 36, 48, 60, 72 and 84 months
- Extra monthly payment: what it saves in interest and months
- Reverse mode: the car price your monthly payment can afford
- Year-by-year amortisation schedule, downloadable as CSV
- 20/4/10 rule check: 20% down, 4-year term, payment under 10% of take-home pay
Worked example
A $35,000 car with $5,000 down and a $3,000 trade-in, at 7.5% sales tax and $500 of fees, finances $30,125 at 7.06% APR over 60 months. The payment is $597.36 a month, the total interest is $5,716.86, and the loan pays off in November 2031. The full cost of the car is $43,841.86, including the down payment and trade-in. Paying $100 extra a month at a 5% rate over 48 months cuts the payment to $693.76, the interest to $2,735.81, and the payoff to 42 months, saving $439.55.
Frequently asked questions
How is a car loan payment calculated?
From the amount financed, the APR and the term. The monthly payment is the amount financed times the monthly rate, divided by one minus the monthly rate factor over the term. A $30,125 loan at 7.06% over 60 months is $597.36 a month.
What is a good APR for a car loan in 2026?
Bankrate surveyed 7.06% for a 60-month new car loan on 4 November 2026, 6.90% for 48 months, and 7.47% for a 48-month used car loan. A score of 670 or above usually gets a rate near the average.
How much should I put down on a car?
20% on a new car and 10% on a used car, the standard guidance from NerdWallet and Edmunds. On a $35,000 car, 20% is $7,000.
Should I take a longer loan term to lower the payment?
Only if you must. An 84-month loan on the same $30,125 costs $8,141.29 in interest, against $3,390.97 on a 36-month loan, and a new car loses about 20% of its value in the first year.
What is the 20/4/10 rule?
Put 20% down, finance for no more than 4 years, and keep total car costs under 10% of your take-home pay. On a $35,000 car with $7,000 down over 48 months at 7.06%, the payment is $722.22 a month. The rule keeps the car from crowding out savings and other bills.
What credit score do I need for a good car loan rate?
670 or above is good credit and usually gets a rate near the Bankrate average of 7.06% for a 60-month new car loan. Below 600, rates can run above 14% for new cars and above 20% for used cars, so a credit union or a larger down payment can help.
Does paying extra on a car loan save money?
Yes. An extra $100 a month on a $30,125 loan at 5% over 48 months saves $439.55 in interest and clears the loan 6 months sooner, in 42 months instead of 48. Check that your lender applies extra payments to principal and charges no prepayment penalty.
Is it better to pay cash or finance a car?
Cash avoids interest, but it ties up money you might need. Financing above 7% usually costs more than the cash would earn, so a bigger down payment or a shorter term is better.
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