№ 041 · Debt & loans cluster
Auto Loan Calculator
Your real car payment — with the down payment, trade-in, sales tax, and fees that the dealer spreadsheet buries. See the monthly number, the total interest, and where every payment goes.
Tax + trade-in + fees
The vehicle01
$
$
$
Financing02
%
%
$
Monthly payment
$660.25
$32,950.00 financed$6,665.02 interest
Amount financed$32,950.00
Sales tax$2,450.00
Total interest$6,665.02
Total of payments$39,615.02
Payments60
PayoffOct 2031
Total paid$39,615.02
- Principal$32,950.00
- Interest$6,665.02
| Principal | $32,950.00 |
|---|---|
| Interest | $6,665.02 |
- Balance remaining
| Start | $32,950.00 |
|---|---|
| Year 0.6 | $29,709.56 |
| Year 1.2 | $26,324.66 |
| Year 1.8 | $22,788.86 |
| Year 2.3 | $19,095.45 |
| Year 2.9 | $15,237.38 |
| Year 3.5 | $11,207.33 |
| Year 4.1 | $6,997.62 |
| Year 4.7 | $2,600.25 |
| Year 5.0 | $0.00 |
Amortization · by year
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $5,643.12 | $2,279.88 | $27,306.88 |
| 2 | $6,081.20 | $1,841.80 | $21,225.67 |
| 3 | $6,553.31 | $1,369.69 | $14,672.36 |
| 4 | $7,062.07 | $860.95 | $7,610.31 |
| 5 | $7,610.31 | $312.70 | $0.00 |
How it works · methodology
The math, in the open.
financed = price − down − trade-in + sales tax + fees sales tax = (price − trade-in) × tax rate payment = financed · [ r(1+r)^n ] / [ (1+r)^n − 1 ]
- financed
- Amount you actually borrow
- r
- Monthly interest rate (APR ÷ 12)
- n
- Number of monthly payments (term)
Assumptions & limits
- Sales tax is charged on price minus trade-in; a few states tax the full price.
- Fees are financed (added to the loan); pay them upfront to lower the amount borrowed.
- Fixed APR for the full term; no gap insurance, warranties, or dealer add-ons modeled.
- An estimate, not a loan offer — your real APR depends on credit and the lender.
Sources
By the MintNumber Editorial Team·Reviewed
Frequently asked
Questions about car loans
How is my auto loan payment calculated?
We find the amount you finance — vehicle price minus your down payment and trade-in, plus sales tax and fees — then amortize it over your term at your APR. The monthly payment is the fixed amount that pays the loan to zero by the end.
Does a trade-in lower my sales tax?
In most U.S. states, yes — sales tax is charged on the price minus your trade-in value, so a trade-in reduces the taxable amount. A few states tax the full price; this calculator uses the price-minus-trade-in rule.
Is a longer term cheaper?
A longer term lowers the monthly payment but raises the total interest you pay, and it keeps you "underwater" (owing more than the car is worth) for longer. Compare 36, 48, 60, and 72 months to see the trade-off.
What APR should I expect?
Auto loan APRs depend heavily on your credit score, the loan term, and whether the car is new or used. Get a pre-approval to know your real rate before you shop. This tool is an estimate, not a loan offer.