Car Payment Calculator
Calculate monthly car payments.
What this car payment calculator does
Estimate a vehicle payment from price, down payment, trade-in, taxes, fees, APR and loan term.
How to use the calculator
Enter the expected out-the-door costs as accurately as possible. A trade-in or down payment lowers the amount financed; taxes, fees and financed add-ons can increase it.
How the calculation works
The estimated payment uses fixed-rate amortization on the modeled amount financed. Total interest is based on scheduled payments under the assumed rate and term.
What the result means
The number shown is best used as a planning estimate. Change one assumption at a time to see which inputs have the largest effect. For financial decisions, compare the result with current statements, lender disclosures, employer information or other authoritative records.
Important assumptions and limitations
Compare the APR and total cost, not just the monthly payment. Longer terms can lower the payment while increasing interest and can increase the risk of owing more than the vehicle is worth.
Frequently asked questions
The calculator uses vehicle price, down payment, trade-in credit, entered sales tax, APR and loan term to estimate the monthly loan payment.
Yes. The entered trade-in credit is subtracted from the vehicle price before the entered sales tax is calculated in this simplified model.
No. Insurance, maintenance, registration and fuel are ownership costs outside the loan payment.
A larger down payment, lower vehicle price, lower APR or longer term can reduce the payment, although a longer term can increase total interest.
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