Auto Loan Calculator
Car shopping in the U.S. is rarely just about the sticker price — sales tax (which varies by state), title fees, doc fees, trade-in value, and the loan term all swing the actual monthly cost. This calculator pulls them together so you can see the true monthly payment on any vehicle and compare a 60-month note against a 72- or 84-month one.
How is this calculated?
The amount financed = vehicle price + sales tax + fees − down payment − trade-in equity. The monthly payment is then calculated using the standard amortization formula at the quoted APR. Sales tax varies sharply by state (and sometimes county) — for example, no sales tax in Oregon or Montana versus 8%+ in parts of California. Some states tax only the difference between purchase price and trade-in (a meaningful saving), others tax the full purchase price. Confirm with your state DMV.
Frequently Asked Questions
Should I take a 60, 72, or 84-month loan?
Shorter is almost always better. A 72- or 84-month loan keeps the monthly payment manageable but you're underwater (owing more than the car is worth) for years and you pay much more interest. If you can't afford a 60-month payment on a car, you usually can't afford that car.
What's a typical auto loan APR in 2026?
Manufacturer-backed promotional APRs can be 0%–3% on slow-moving stock. Standard new-car loans for prime borrowers (FICO 720+) are typically 6%–8% in 2026, used cars 8%–11%. Subprime borrowers can see rates above 15%. Credit unions consistently beat dealer financing for members with mid-tier credit.
Should I finance through the dealer or my own lender?
Get pre-approved with your bank or credit union before walking onto the lot — that gives you a benchmark APR and removes financing leverage from the dealer's side of the negotiation. Dealers can sometimes beat your pre-approval through manufacturer incentives, but you've now made them earn the deal.
Should I put down 20%?
20% down on a new car (or 10% on used) keeps you from going underwater immediately due to depreciation, qualifies you for better rates, and lowers monthly payments. If you can't put down at least 10%, the smarter play is often to choose a less expensive vehicle rather than financing 100% of a luxury one.
Last updated: May 2026 · Rates sourced from IRS