Auto Loan Calculator

💰 How This Calculator Works

Calculates car loan payments including the impact of a down payment, trade-in value, and sales tax on the financed amount.

🔢 Worked Examples

• $30,000 car, $5k down, 4.9% for 60 months → payment $468.28
• $45,000 car, 0% down, 7.9% for 72 months → payment $789.10

📋 Common Use Cases

Loan calculators help you understand the true cost of borrowing money — including total interest paid, monthly payments, and amortization schedules. Whether you're financing a car, taking a personal loan, or comparing offers, these tools give you the numbers banks don't always lead with.

• Monthly payment planning before signing a loan
• Comparing fixed-rate vs reducing-balance loan structures
• Calculating total interest cost over the full loan term
• Finding the break-even point for extra payments

💡 Did You Know?

On a 30-year mortgage at 6%, you pay nearly as much in interest as you borrowed. A $300,000 mortgage costs about $647,000 in total payments — $347,000 of that is interest.

⚠️ Common Mistake

Focusing only on the monthly payment — a 72-month loan lowers the payment but you may owe more than the car is worth ("underwater") within 12–18 months due to depreciation.