Auto Loan Calculator
Use our Auto Loan Calculator to estimate your car payment, total interest, amount financed and complete cost of an auto loan. Enter the vehicle price, down payment, trade-in value, interest rate, loan term, sales tax and fees to calculate financing for a new or used car, truck, SUV or other vehicle.
The calculator works for auto loans in the United States, Canada and other countries. It also handles trade-in loans, negative equity, cash rebates, dealer add-ons, monthly, biweekly and weekly payments, extra principal payments, loan-to-value ratio and a complete auto loan amortization schedule.
Auto Loan Calculator
Calculate car payments, interest, taxes, trade-in equity and your complete auto loan amortization schedule.
Table of Contents
- How to Use the Auto Loan Calculator
- Car Loan Calculator
- Car Payment Calculator
- Auto Loan Payment Formula
- Auto Loan Calculator With Tax
- Auto Loan Calculator With Trade-In
- Negative Equity Auto Loan Calculator
- Auto Loan Interest Calculator
- Current Auto Loan Rates
- Credit Score and Auto Loan Rates
- 36 vs. 48 vs. 60 vs. 72 vs. 84 Month Loans
- Auto Loan Amortization Calculator
- Extra Payment Auto Loan Calculator
- Auto Loan Calculator USA
- Auto Loan Calculator Canada
- New vs. Used Car Loans
- 0% APR Financing
- Auto Loan-to-Value Ratio
- Frequently Asked Questions
How to Use the Auto Loan Calculator
Start with the negotiated price of the vehicle rather than focusing only on the monthly payment advertised by a dealer. Enter your down payment, APR and desired loan term.
If you have a vehicle to trade, enter both its trade-in value and the amount you still owe. This is important because a trade-in with a remaining loan can either reduce the new amount financed or increase it when you have negative equity.
Next, enter your vehicle sales-tax rate, cash rebate or discount, dealer add-ons and registration or other fees. Because vehicle tax rules differ across the United States and Canada, the calculator lets you control which amounts reduce the taxable price instead of assuming one tax rule applies everywhere.
Select monthly, biweekly or weekly payments. You can also enter an extra principal payment to see whether paying more each period could shorten the loan and reduce interest.
After calculating, the results show your payment, monthly equivalent, amount financed, sales tax, total interest, total payments, total cash cost, payoff date, trade-in equity, loan-to-value ratio and a complete amortization schedule.
Car Loan Calculator
The terms auto loan calculator and car loan calculator generally describe the same type of financial tool. Both calculate the payment required to repay a vehicle loan over a specified period at a particular interest rate.
A useful car loan calculator should go beyond the basic payment formula. The price on the windshield is rarely the same as the final amount financed because down payments, taxes, rebates, trade-ins and fees can all change the loan balance.
That is why this calculator calculates the transaction first and the loan payment second.
Car Payment Calculator
Your car payment is determined primarily by four variables: the amount financed, APR, number of payments and payment frequency.
A lower vehicle price or larger down payment reduces the amount borrowed. A lower APR reduces interest. A longer term spreads repayment across more payments, which normally lowers each payment but increases the amount of time interest can accumulate.
This is why shopping only by monthly payment can be misleading. Two loans can have similar payments while producing very different total costs.
If your main question is how expensive a vehicle fits within your budget rather than what a specific loan will cost, use our Car Loan Affordability Calculator.
Auto Loan Payment Formula
Most fixed-rate vehicle loans are amortizing loans. The scheduled payment is calculated so that the principal reaches approximately zero after the final payment.
In this formula, Principal is the amount financed, r is the interest rate for each payment period and n is the total number of payments.
For a monthly loan, the calculator converts the annual percentage rate into a monthly rate and applies it across the selected number of monthly payments.
Auto Loan Calculator With Tax
Sales tax can increase both the purchase cost and the amount financed when the tax is rolled into the loan.
For example, an 8% tax on a $40,000 taxable vehicle price equals $3,200. If that $3,200 is financed, you are not only paying the tax—you can also pay loan interest on the tax.
Vehicle tax rules vary substantially. A U.S. buyer may have state, county and city taxes. A Canadian buyer may encounter GST, HST, PST or QST depending on the province and type of transaction.
The calculator therefore asks for the actual tax rate rather than assuming one national rate.
You can use our Sales Tax Calculator to calculate sales taxes separately when needed.
Auto Loan Calculator With Trade-In
A trade-in can reduce the amount you need to finance, but the important number is your equity rather than the trade value by itself.
Suppose the dealership offers $22,000 for your existing car and the current payoff amount is $14,000. You have approximately $8,000 of positive equity that can reduce the cost of your replacement vehicle.
If you need an estimate of your current vehicle’s worth, use our Car Value Calculator before calculating the new loan.
Negative Equity Auto Loan Calculator
Negative equity occurs when the payoff amount on your existing auto loan is greater than the vehicle’s trade-in value.
For example, if you owe $28,000 but the dealer offers only $22,000, you are approximately $6,000 upside down.
If that $6,000 is rolled into the replacement vehicle loan, you are financing the new vehicle plus debt from the old vehicle.
The U.S. Consumer Financial Protection Bureau warns that rolling an unpaid trade balance into a new loan increases the cost of the new loan and the interest paid over its life. See the CFPB’s guidance on trading in a vehicle that still has a loan.
If you already have a car loan and want to eliminate the balance faster, use our Car Loan Payoff Calculator.
Auto Loan Interest Calculator
The interest rate can change the cost of the same vehicle by thousands of dollars.
Suppose two buyers each finance $40,000 for 72 months. The buyer with the lower APR will normally have both a lower payment and a lower total finance cost.
The calculator displays total interest separately so you can see how much of your repayment represents the cost of borrowing rather than repayment of the vehicle principal.
Interest Rate vs. APR
The interest rate describes the rate charged on the borrowed balance. The annual percentage rate, or APR, is intended to express the annualized cost of credit and can include certain finance charges.
When comparing loan offers, compare APR with APR and review the total amount financed and total payments as well.
The CFPB recommends comparing the loan amount, APR and interest rate, term and monthly payment rather than making a decision from the payment alone. You can read its auto loan comparison guidance.
Current Auto Loan Interest Rates
Auto loan rates change over time, so the calculator does not hard-code a rate based on your country or credit score. Enter the APR actually quoted to you whenever possible.
For reference, Experian reported that U.S. auto loans averaged 6.35% for new vehicles and 11.19% for used vehicles during the second quarter of 2026.
The Bank of Canada’s chartered-bank data reported an average rate of 6.55% for newly advanced auto loans in June 2026.
These are market averages, not rates that an individual borrower should expect to receive. Your actual APR can be substantially higher or lower.
Credit Score and Auto Loan Rates
Credit history is one of the major factors lenders consider when setting an auto loan interest rate.
Experian’s Q2 2026 U.S. data showed a large range between credit tiers. New-car APRs averaged approximately 4.41% for super-prime borrowers and 16.11% for deep-subprime borrowers. Used-car averages ranged from about 6.29% to 21.62% across those same broad credit tiers.
A credit score does not guarantee a specific rate. Lenders can also consider income, debt, loan amount, term, vehicle age, down payment and their own underwriting requirements.
Auto Loan Down Payment Calculator
A down payment reduces the amount that must be financed.
The CFPB notes that a down payment can consist of cash, net proceeds from a trade-in, or a combination of both.
A larger down payment usually reduces the scheduled payment and total interest because you begin the loan with a smaller balance.
It can also reduce your loan-to-value ratio and provide more protection against becoming upside down as the vehicle depreciates.
36 vs. 48 vs. 60 vs. 72 vs. 84 Month Auto Loans
The loan term is one of the most powerful variables in a car payment calculation.
A 36-month loan has fewer payments, so each payment is comparatively high. A 72- or 84-month loan spreads the same principal across many more payments, making each payment smaller.
The lower payment does not mean the vehicle became cheaper.
As the term gets longer, interest is charged for additional months. Canada’s Financial Consumer Agency illustrates this with a $25,000 loan at 5%: approximately $1,974 of total interest over 36 months compared with about $4,681 over 84 months.
The term comparison table above lets you see this relationship immediately for your own loan amount and APR.
72 Month Auto Loan Calculator
A 72-month car loan lasts six years. These loans are popular because they can reduce the monthly payment compared with 48- or 60-month financing.
The trade-off is more total interest and a longer period during which your remaining balance may be high relative to the vehicle’s depreciating market value.
84 Month Auto Loan Calculator
An 84-month auto loan lasts seven years. It can make an expensive vehicle appear much easier to fit into a monthly budget, but seven years is a long time to finance a depreciating asset.
If you expect to trade the vehicle after only three or four years, look closely at the amortization schedule and expected vehicle value because you may still owe a significant balance.
96 Month Auto Loan Calculator
A 96-month loan stretches repayment across eight years.
The payment can look attractive compared with shorter terms, but total interest and negative-equity risk can become significantly greater.
Use the calculator’s comparison table rather than assuming the lowest monthly payment is the lowest-cost option.
Auto Loan Amortization Calculator
An amortization schedule shows exactly how the estimated loan balance changes with every payment.
Each row shows the payment date, total payment, principal portion, interest portion and balance remaining after the payment.
At the beginning of a typical amortizing loan, the balance is at its highest. Because interest is calculated from that balance, the interest portion is generally larger early in the loan than later.
As principal is repaid, the amount of interest generated during each period falls and a larger share of the regular payment goes toward principal.
Auto Loan Calculator With Extra Payments
Adding money to the scheduled payment can reduce principal more quickly.
Because future interest is calculated from the remaining balance, reducing principal earlier can lower total interest and move the payoff date forward.
Enter the extra amount you plan to pay every payment period. The calculator rebuilds the repayment schedule and displays an estimate of the interest saved.
Before making extra payments, review your loan agreement to confirm how extra money is applied and whether any prepayment conditions apply.
Monthly, Biweekly and Weekly Car Payment Calculator
The calculator supports monthly, biweekly and weekly payment frequencies.
Monthly financing uses 12 payments per year. Biweekly financing uses approximately 26 payments per year, while weekly financing uses approximately 52.
Do not assume that a lender’s accelerated biweekly product is identical to simply dividing a monthly payment in half. Actual lender contracts can use different payment structures and interest calculations.
Auto Loan Calculator USA
U.S. buyers should enter the vehicle price in U.S. dollars and the APR offered by the lender.
The biggest tax complication in the United States is that vehicle sales-tax rules are not national. States set their own rules, and county or city taxes can also affect the final rate.
Trade-in tax credits also vary. In some jurisdictions an eligible trade-in reduces the taxable vehicle price, while others calculate tax differently.
That is why the calculator does not automatically assume a trade-in tax credit for every U.S. buyer. Open Advanced Auto Loan settings and select the trade-in option only when it applies to your purchase.
U.S. Auto Loan Example
Suppose you buy a $42,000 vehicle and put $5,000 down. Your trade is worth $8,000 and is already paid off. After adding the applicable tax and fees, the remaining amount becomes the principal for the new loan.
Enter the APR from your lender and compare 48-, 60-, 72- and 84-month financing. The calculator will show how extending the loan can reduce the payment while increasing total interest.
Auto Loan Calculator Canada
Canadian buyers can select CAD and enter their vehicle price, trade-in, loan balance, APR and provincial sales-tax rate.
Tax treatment differs significantly across Canada. Alberta generally applies 5% GST and no general provincial sales tax, while provinces using HST can have much higher combined rates. Provinces with separate PST or QST rules require their applicable vehicle tax treatment.
The calculator therefore does not force one Canadian tax rate. Enter the rate for the province and transaction you are actually calculating.
The Financial Consumer Agency of Canada recommends comparing the interest rate, payment schedule, financing fees, total amount financed and length of the car loan. See its car financing guidance.
Canadian Auto Loan Example
Suppose a vehicle costs C$55,000. You provide a C$10,000 down payment and finance the rest over 60 months.
The final amount borrowed depends on tax, dealer fees, rebates and any trade-in. Enter all of those items individually instead of assuming the vehicle sticker price is the loan amount.
New Car Loan vs. Used Car Loan
Used cars generally cost less to purchase, but they do not necessarily receive the lowest financing rates.
Experian’s Q2 2026 U.S. data reported an average APR of 6.35% for new vehicle loans and 11.19% for used vehicle loans.
A lower used-car purchase price can therefore be partly offset by a higher rate. Compare the complete financing cost rather than comparing sticker prices alone.
Used Car Loan Calculator
This calculator works exactly the same way for used vehicles. Enter the negotiated used-car price and the APR offered for that specific vehicle.
Older vehicles can sometimes have different lender restrictions, including maximum age, mileage or shorter permitted loan terms.
Before agreeing on a used-car price, compare its market value with our Car Value Calculator.
New Car Loan Calculator
New vehicles can qualify for manufacturer-supported rates that are lower than ordinary bank or used-car financing.
Manufacturers may offer either a low promotional interest rate or a cash rebate, which can create a more complicated comparison than simply choosing the lowest APR.
0% APR Car Loan Calculator
When APR is exactly 0%, there is no interest component in the payment calculation.
If you finance $36,000 at 0% for 60 months, the basic loan payment is $600 per month.
However, a 0% offer is not always automatically cheaper if accepting it means giving up a large cash rebate. Compare the final vehicle price and total financing cost under both offers.
0% Financing vs. Cash Rebate
Imagine a manufacturer offers either 0% financing or a $4,000 cash rebate with normal financing.
The 0% option eliminates interest but starts from the higher vehicle price. The rebate lowers the principal but introduces interest.
The best comparison is total dollars paid under each scenario. Run the calculator once using the 0% rate with no rebate, then run it again with the rebate and the alternative APR.
Auto Loan-to-Value Ratio Calculator
Loan-to-value ratio compares the amount borrowed with the value of the vehicle.
If you borrow $30,000 against a vehicle worth $40,000, the LTV is 75%.
If you finance $45,000 against a vehicle worth $40,000, the LTV is 112.5%.
The CFPB notes that auto-loan LTV can exceed 100%, especially when unpaid debt from a previous vehicle is rolled into the new loan.
How Much Car Can I Afford?
A lender approving a payment does not necessarily mean that payment fits comfortably within your budget.
Vehicle ownership also involves insurance, gasoline or electricity, registration, maintenance, repairs, tires and parking.
Use our Car Loan Affordability Calculator to start with your income and expenses and estimate a vehicle budget before choosing a specific car.
How Much Should I Put Down on a Car?
There is no single down-payment percentage that is appropriate for every borrower.
More money down lowers the loan amount and can reduce both interest and negative-equity risk. However, draining emergency savings to make an unusually large down payment can create other financial problems.
Use the calculator to test several down-payment amounts and compare the payment, LTV and total interest.
Dealer Financing vs. Bank or Credit Union
Auto financing can come from a bank, credit union, online lender, manufacturer’s finance company or dealership-arranged lender.
Dealer financing can be convenient and may provide access to manufacturer promotional rates. Independent lenders may also offer competitive terms.
Compare actual APRs and complete loan terms instead of assuming one source is always cheaper.
Preapproved Auto Loan
Getting preapproved before visiting a dealership can give you a financing offer to compare against dealer-arranged financing.
When offers differ, enter each APR separately in this calculator while keeping the vehicle price, down payment and term constant.
That makes it much easier to see the dollar difference between two rates.
Auto Refinance Calculator
Refinancing replaces an existing auto loan with a new loan, usually to reduce the interest rate, payment or both.
To estimate a refinance, enter the current loan payoff as the vehicle price, enter zero for trade-in and down payment unless applicable, and use the proposed new APR and term.
Compare the projected interest cost with the cost of keeping your existing loan before refinancing.
How Car Loan Payments Are Split Between Principal and Interest
Principal reduces the amount you owe. Interest is the lender’s charge for financing the outstanding principal.
Suppose a payment is $700 and $210 represents interest. The remaining $490 reduces principal.
On the next payment, interest is calculated using the lower remaining balance, so the principal portion generally increases over time on a standard amortizing loan.
Why the Dealer Payment Can Differ From the Calculator
A dealer or lender payment can differ because the contract may include items you did not enter.
- Different APR
- Sales tax
- Registration or title fees
- Documentation fees
- Extended warranty
- GAP coverage
- Protection products
- Accessories
- Negative equity
- Different payment frequency
- Different first-payment date
- Different compounding convention
Ask for the full itemized amount financed if the dealer’s payment is materially different from your estimate.
Should I Focus on Monthly Payment or Vehicle Price?
Both matter, but negotiating only from the monthly payment can make it difficult to see the true purchase price.
A seller can lower a monthly payment simply by extending the loan term. You may feel like you negotiated a cheaper vehicle when the actual price barely changed.
Compare vehicle price, APR, amount financed and total interest separately.
Auto Loan Calculator Frequently Asked Questions
What is an Auto Loan Calculator?
An Auto Loan Calculator estimates vehicle loan payments, interest and total financing cost based on the amount financed, APR, loan term and payment frequency.
Is an auto loan calculator the same as a car loan calculator?
Yes. Auto loan calculator and car loan calculator are commonly used to describe the same type of financing calculator.
How do I calculate my monthly car payment?
Enter the vehicle price, down payment, amount financed, APR and term. The calculator applies the amortizing-loan payment formula.
Does this auto loan calculator include tax?
Yes. Enter the vehicle sales-tax rate and choose whether the tax is financed or paid upfront.
Does the calculator support U.S. car loans?
Yes. Select USD and enter the APR, state/local vehicle tax rate, fees and trade-in rules that apply to your transaction.
Does the calculator support Canadian car loans?
Yes. Select CAD and enter the APR and applicable GST, HST, PST or other vehicle tax rate for your province and transaction.
Does it calculate a trade-in?
Yes. Enter the trade-in value and the amount still owed on the existing vehicle.
What is positive trade-in equity?
Positive equity means the trade-in value is greater than the loan payoff on the vehicle.
What is negative equity?
Negative equity means the amount owed on the existing vehicle is greater than its trade-in value.
Can negative equity be rolled into a new car loan?
It sometimes can, subject to lender approval. Doing so increases the amount financed and can increase total interest.
How does a down payment affect my auto loan?
A larger down payment reduces the amount borrowed, which generally lowers the payment and total interest.
What is APR on a car loan?
APR is an annualized measure of borrowing cost and can reflect certain finance charges in addition to the interest rate.
What is a good auto loan rate?
A competitive rate depends on current market conditions, credit profile, vehicle type, term and lender. Compare several actual offers rather than relying on one national average.
What are current U.S. auto loan rates?
Experian reported Q2 2026 averages of 6.35% for new vehicle loans and 11.19% for used vehicle loans. Individual borrowers can receive rates far above or below those averages.
What are current Canadian auto loan rates?
Bank of Canada data showed an average 6.55% rate on newly advanced chartered-bank auto loans in June 2026. Individual lender offers vary.
Does credit score affect my car loan APR?
Yes. Credit history is one of several major factors used by auto lenders when setting interest rates.
Can I calculate a 0% APR car loan?
Yes. Enter 0 for APR. At 0%, the amount financed is divided across the scheduled payments without an interest charge.
Is 0% financing always better than a rebate?
No. A large cash rebate paired with a higher APR can sometimes produce a lower total cost. Calculate both scenarios.
Can I calculate a 72-month car loan?
Yes. Select 72 months from the loan-term menu.
Can I calculate an 84-month car loan?
Yes. Select 84 months. Compare the lower payment with the additional total interest.
Can I calculate a 96-month car loan?
Yes. The calculator supports terms through 120 months, although very long terms can create substantial interest and negative-equity risk.
Why does a longer car loan have a lower payment?
The amount borrowed is spread over more payments. However, interest is also charged for a longer period.
Does a longer auto loan cost more overall?
At the same APR and principal, a longer term generally creates more total interest even though the scheduled payment is lower.
What is an auto loan amortization schedule?
It lists every payment and shows how much goes toward principal, how much goes toward interest and the remaining balance.
Can I make extra payments?
The calculator can estimate the effect of adding an extra amount to every scheduled payment.
Do extra car payments save interest?
They generally can when extra payments reduce principal earlier and the loan agreement permits the payment to be applied that way.
Can I calculate biweekly car payments?
Yes. Select Biweekly to calculate approximately 26 payments per year.
Can I calculate weekly car payments?
Yes. Select Weekly to calculate approximately 52 payments per year.
What is loan-to-value ratio?
LTV compares the amount financed with the value of the vehicle.
Can auto loan LTV be over 100%?
Yes. Taxes, fees, add-ons or negative equity can result in financing more than the vehicle is worth.
How do I calculate my trade-in value?
Use our Car Value Calculator to estimate private-party, trade-in and dealer-retail value before entering the trade into this calculator.
Should I trade a car that still has a loan?
Compare the vehicle’s trade value with the current payoff first. If the payoff is higher, rolling the difference into a new loan increases the new debt.
What is the amount financed?
It is the principal you borrow after accounting for items such as down payment, trade-in, rebate and any taxes or fees that are financed.
What is the total of payments?
It is the total amount of principal and interest paid through the scheduled loan payments.
What is the total vehicle cost?
The calculator adds estimated upfront cash to the total loan payments to show the broader purchase and financing cost.
Can I use this for a truck loan?
Yes. The financing math applies to cars, pickups, SUVs, vans and other financed vehicles.
Can I use this for an electric vehicle?
Yes. Enter the EV purchase price, down payment, tax, incentives that apply to the transaction, APR and loan term.
Can I use this for a used vehicle?
Yes. Enter the negotiated used-car price and the actual used-vehicle APR offered by the lender.
Can I use this calculator to refinance a car?
Yes. Use the current payoff amount as the principal purchase amount and enter the proposed refinance APR and term.
Why is the dealer’s payment different from this calculator?
The dealer contract may contain a different APR, taxes, fees, accessories, warranty products, GAP coverage, negative equity or payment schedule.
Should I negotiate the monthly payment?
It is usually clearer to negotiate and compare the vehicle price, APR, trade-in and loan term separately, then calculate the resulting payment.
Is the lowest monthly car payment the cheapest loan?
No. A lower payment produced by extending the term can result in considerably more total interest.
Is this an official lender quote?
No. This calculator is for planning and comparison. Your lender’s loan agreement determines the actual payment, APR and total financing cost.
Final Thoughts
An Auto Loan Calculator is most useful when it shows the complete financing picture rather than one attractive monthly payment. The vehicle price, APR, loan term, tax, down payment, trade-in and fees all affect what you ultimately pay.
Use the payment result to check whether the loan fits your monthly budget, then look at total interest and total cost. Compare several loan terms because extending the loan can dramatically reduce the payment while increasing the amount paid over time.
If you are trading another vehicle, calculate its equity before signing a new loan. Positive equity can reduce the amount financed, while negative equity can make the replacement vehicle considerably more expensive.
Finally, compare financing offers from more than one source using the same vehicle price, down payment and term. Even a modest difference in APR can create a meaningful difference in total interest on a large vehicle loan.
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