How is the monthly payment calculated?

We use the standard fixed-rate loan formula: payment = amount financed × r ÷ (1 − (1 + r)^−n), where r is the APR divided by 12 and n is the number of months. At 0% APR the payment is simply the amount financed divided by the number of months.

What goes into the amount financed?

Vehicle price, plus any sales tax and fees you switch on, minus your down payment and any trade-in equity. If you owe more on your trade-in than it is worth, the difference (negative equity) is added to the estimated amount financed.

Is sales tax charged on the price before or after a trade-in?

It depends on your state. Some states tax only the sale price minus your trade-in value (a trade-in tax credit); others tax the full price. Turn on “Trade-in tax credit” only if your state allows it.

Where do the APRs come from?

The quick-fill buttons use “as low as” APRs that lenders publish on their own websites, which we check weekly. Your actual rate depends on your credit, the vehicle, the term, and the lender.

Do you save what I type?

No. All math runs in your browser. Nothing you enter is sent to us; the numbers only appear in the page address so you can share or bookmark them.

Auto Loan Payment Calculator

Estimate your monthly payment, amount financed, and total interest. Start from a real published APR, then add a trade-in, taxes, and fees if you want. Everything stays in your browser.

Estimated monthly payment

$634.99

60 months at 3.39% APR

Amount financed: $35,000
Total interest: $3,099
Total of payments: $38,099
Total cost (down + trade equity + payments): $38,099

At the credit union average for new-car loans (5.11% APR, based on 219 credit unions’ lowest published rates), the estimated payment is about $662.26/mo. At your APR, that’s about $1,636 less in estimated interest.

Estimate only. This calculator is for illustration and is not a loan offer or approval. Your actual APR, payment, taxes, and fees depend on your credit, the vehicle, the lender, and your state. Confirm all figures with your lender and dealer. Sales tax, trade-in tax credits, fees, and registration costs vary by state. Check your own state’s rules.

Amortization by year

Principal, interest, and remaining balance by year
Year	Principal	Interest	Balance
1	$6,534	$1,086	$28,466
2	$6,759	$861	$21,706
3	$6,992	$628	$14,714
4	$7,233	$387	$7,482
5	$7,482	$138	$0

Estimated monthly payment

$634.99

Est. total interest $3,099 · est. $1,636 less than the CU average

Details

Questions

How is the monthly payment calculated?: We use the standard fixed-rate loan formula: payment = amount financed × r ÷ (1 − (1 + r)^−n), where r is the APR divided by 12 and n is the number of months. At 0% APR the payment is simply the amount financed divided by the number of months.
What goes into the amount financed?: Vehicle price, plus any sales tax and fees you switch on, minus your down payment and any trade-in equity. If you owe more on your trade-in than it is worth, the difference (negative equity) is added to the estimated amount financed.
Is sales tax charged on the price before or after a trade-in?: It depends on your state. Some states tax only the sale price minus your trade-in value (a trade-in tax credit); others tax the full price. Turn on “Trade-in tax credit” only if your state allows it.
Where do the APRs come from?: The quick-fill buttons use “as low as” APRs that lenders publish on their own websites, which we check weekly. Your actual rate depends on your credit, the vehicle, the term, and the lender.
Do you save what I type?: No. All math runs in your browser. Nothing you enter is sent to us; the numbers only appear in the page address so you can share or bookmark them.

Estimate only. This calculator is for illustration and is not a loan offer or approval. Your actual APR, payment, taxes, and fees depend on your credit, the vehicle, the lender, and your state. Confirm all figures with your lender and dealer. Sales tax, trade-in tax credits, fees, and registration costs vary by state. Check your own state’s rules. Compare published rates on the new car, used car, and refinance boards.