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How it works

An auto loan finances the vehicle price after cash incentives, down payment, and net trade-in. Sales tax and title/registration fees can be paid upfront or rolled into the loan. Monthly principal and interest follow the standard amortization formula.

Loan = Price − Incentive − Down − (Trade-in − Owed), A = P · i(1+i)^N / ((1+i)^N − 1)

When to use

Use this tool when you need to: default: {price} vehicle, {down} down, 60 months at 5%, plus 7% tax and typical fees (~{payment}/mo).

How to use this tool

Enter your values in the fields above.
Review the formula and any mode options for your problem.
Read the result and the step-by-step solution.

Default: {price} vehicle, {down} down, 60 months at 5%, plus 7% tax and typical fees (~{payment}/mo).

Frequently asked questions

What is the Auto Loan Calculator?: An auto loan finances the vehicle price after cash incentives, down payment, and net trade-in. Sales tax and title/registration fees can be paid upfront or rolled into the loan. Monthly principal and interest follow the standard amortization formula.
How do I use the Auto Loan Calculator?: Enter the required values, then calculate. The Auto Loan Calculator shows results, formulas, and step-by-step work when available. No account is required.
What formula does the Auto Loan Calculator use?: Loan = Price − Incentive − Down − (Trade-in − Owed), A = P · i(1+i)^N / ((1+i)^N − 1)

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How it works

How this auto loan is calculated

The amount financed is the vehicle price minus cash incentives, down payment, and net trade-in (trade-in value minus any amount still owed on the old loan). Monthly principal and interest use the standard amortization formula with monthly compounding. Typical terms are 36, 48, 60, 72, or 84 months.

Down payment, trade-in, and incentives

A cash down payment and a trade-in both reduce the loan. If you still owe more on the traded vehicle than it is worth, that negative equity is added to the new loan. Manufacturer cash incentives also reduce the amount financed; they do not change the sales-tax base in this tool — lower the auto price instead if your region taxes the discounted amount.

Sales tax and fees

Enter your local sales-tax rate and any title, registration, or documentation fees. By default, tax is charged on price minus trade-in, which is the usual rule. Uncheck that option to tax the full price. You can pay tax and fees upfront or roll them into the loan; rolling them in raises the monthly payment and total interest.

Monthly payment mode

If you know the payment you can afford, switch to Monthly payment. The calculator finds the loan that produces that payment, then works backward to a vehicle price after down payment, trade-in, tax, and fees. Treat that price as a ceiling — dealer add-ons and insurance are not included.

How it works

Loan = Price − Incentive − Down − (Trade-in − Owed), A = P · i(1+i)^N / ((1+i)^N − 1)

Frequently asked questions

What is the Auto Loan Calculator?

How do I use the Auto Loan Calculator?

Enter the required values, then calculate. The Auto Loan Calculator shows results, formulas, and step-by-step work when available. No account is required.

What formula does the Auto Loan Calculator use?

Loan = Price − Incentive − Down − (Trade-in − Owed), A = P · i(1+i)^N / ((1+i)^N − 1)