Car Payment Calculator
How to use this calculator
- Enter the vehicle price, plus any down payment and trade-in value.
- Add sales tax — applied to the price before down payment and trade-in are subtracted.
- Enter the APR and term, then press Calculate.
How the payment is figured
Amount financed = price + sales tax − down payment − trade-in. The monthly payment then uses the standard amortizing-loan formula M = P·r(1+r)n / ((1+r)n − 1).
Worked example
A $32,000 car with $4,000 down, $3,000 trade-in, 6% sales tax, 6.5% APR over 60 months: amount financed $26,920, monthly payment $526.72, total interest $4,683.24.
A note on advice
This calculator is educational and does not constitute financial advice. Figures are estimates based on the inputs you provide.
Frequently asked questions
Should I put more down or take a shorter term?
A larger down payment reduces the amount financed immediately; a shorter term raises the monthly payment but cuts total interest. Doing some of both is usually cheapest.
Is trade-in value taxed?
It depends on the state. This calculator applies sales tax to the full price before subtracting trade-in, which is the more conservative estimate.
Does this include dealer fees?
No. Dealer documentation fees, registration, and insurance are not included — add them to the price if you want them financed.
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