Car loan calculator
Your monthly car payment and total cost.
EstimateMonthly payment
Estimate only, not financial advice. Tax rules vary by location; dealer fees, registration and insurance are not included.
This car loan calculator (also called an auto loan calculator) works out the monthly payment, the total interest and the total cost of a vehicle after your down payment, trade-in and sales tax. An optional balloon payment lowers the monthly amount but leaves a lump sum due at the end.
Amortization schedule
How each year's payments split between principal and interest, and what is still owed at the end of each year.
| Year | Principal ($) | Interest ($) | Balance ($) |
|---|---|---|---|
| 1 | 4,375.88 | 1,365.96 | 20,374.12 |
| 2 | 4,645.77 | 1,096.07 | 15,728.35 |
| 3 | 4,932.31 | 809.53 | 10,796.03 |
| 4 | 5,236.53 | 505.31 | 5,559.51 |
| 5 | 5,559.51 | 182.34 | 0.00 |
Show every month
| Month | Principal ($) | Interest ($) | Balance ($) |
|---|---|---|---|
| 1 | 354.74 | 123.75 | 24,395.26 |
| 2 | 356.51 | 121.98 | 24,038.75 |
| 3 | 358.29 | 120.19 | 23,680.46 |
| 4 | 360.08 | 118.40 | 23,320.38 |
| 5 | 361.88 | 116.60 | 22,958.49 |
| 6 | 363.69 | 114.79 | 22,594.80 |
| 7 | 365.51 | 112.97 | 22,229.28 |
| 8 | 367.34 | 111.15 | 21,861.94 |
| 9 | 369.18 | 109.31 | 21,492.77 |
| 10 | 371.02 | 107.46 | 21,121.74 |
| 11 | 372.88 | 105.61 | 20,748.86 |
| 12 | 374.74 | 103.74 | 20,374.12 |
| 13 | 376.62 | 101.87 | 19,997.51 |
| 14 | 378.50 | 99.99 | 19,619.01 |
| 15 | 380.39 | 98.10 | 19,238.61 |
| 16 | 382.29 | 96.19 | 18,856.32 |
| 17 | 384.21 | 94.28 | 18,472.12 |
| 18 | 386.13 | 92.36 | 18,085.99 |
| 19 | 388.06 | 90.43 | 17,697.93 |
| 20 | 390.00 | 88.49 | 17,307.93 |
| 21 | 391.95 | 86.54 | 16,915.99 |
| 22 | 393.91 | 84.58 | 16,522.08 |
| 23 | 395.88 | 82.61 | 16,126.20 |
| 24 | 397.86 | 80.63 | 15,728.35 |
| 25 | 399.85 | 78.64 | 15,328.50 |
| 26 | 401.84 | 76.64 | 14,926.66 |
| 27 | 403.85 | 74.63 | 14,522.81 |
| 28 | 405.87 | 72.61 | 14,116.93 |
| 29 | 407.90 | 70.58 | 13,709.03 |
| 30 | 409.94 | 68.55 | 13,299.09 |
| 31 | 411.99 | 66.50 | 12,887.10 |
| 32 | 414.05 | 64.44 | 12,473.05 |
| 33 | 416.12 | 62.37 | 12,056.92 |
| 34 | 418.20 | 60.28 | 11,638.72 |
| 35 | 420.29 | 58.19 | 11,218.43 |
| 36 | 422.39 | 56.09 | 10,796.03 |
| 37 | 424.51 | 53.98 | 10,371.53 |
| 38 | 426.63 | 51.86 | 9,944.90 |
| 39 | 428.76 | 49.72 | 9,516.14 |
| 40 | 430.91 | 47.58 | 9,085.23 |
| 41 | 433.06 | 45.43 | 8,652.17 |
| 42 | 435.23 | 43.26 | 8,216.94 |
| 43 | 437.40 | 41.08 | 7,779.54 |
| 44 | 439.59 | 38.90 | 7,339.95 |
| 45 | 441.79 | 36.70 | 6,898.17 |
| 46 | 444.00 | 34.49 | 6,454.17 |
| 47 | 446.22 | 32.27 | 6,007.95 |
| 48 | 448.45 | 30.04 | 5,559.51 |
| 49 | 450.69 | 27.80 | 5,108.82 |
| 50 | 452.94 | 25.54 | 4,655.87 |
| 51 | 455.21 | 23.28 | 4,200.67 |
| 52 | 457.48 | 21.00 | 3,743.18 |
| 53 | 459.77 | 18.72 | 3,283.41 |
| 54 | 462.07 | 16.42 | 2,821.34 |
| 55 | 464.38 | 14.11 | 2,356.96 |
| 56 | 466.70 | 11.78 | 1,890.26 |
| 57 | 469.04 | 9.45 | 1,421.22 |
| 58 | 471.38 | 7.11 | 949.84 |
| 59 | 473.74 | 4.75 | 476.11 |
| 60 | 476.11 | 2.38 | 0.00 |
How the calculation works
First the calculator works out how much you borrow. Sales tax is calculated on the price minus your trade-in; whether a trade-in lowers the taxable amount, and the tax rate itself, depend on where you buy, so check the rules for your location. The payment then comes from the standard loan formula. A balloon payment is still owed at the end, so only its present value is repaid through the monthly payments:
L = price − down payment − trade-in + sales tax
Sales tax = tax rate × (price − trade-in)
M = (L − B ÷ (1 + r)n) × r ÷ (1 − (1 + r)−n)
B = balloon payment (0 if none), r = annual rate ÷ 100 ÷ 12, n = number of months
At 0%: M = (L − B) ÷ n
Total interest = M × n + B − L, total cost = price + sales tax + total interest
The totals use the unrounded payment and are rounded only for display. The schedule applies the same rule every month (interest = balance × r, principal = payment − interest) and ends exactly at the balloon amount, which you pay with the last installment. Without a balloon it ends at zero.
Example: a $30,000 car with a $5,000 trade-in and $2,000 down. Sales tax of 7% on the price minus the trade-in is $1,750.00, so you finance $24,750.00. At 6% a year for 60 months the payment is $478.49 a month. You pay $3,959.21 in interest, and the car costs $35,709.21 in total, including tax and interest.
Common questions
How is a car loan payment calculated?
The calculator subtracts your down payment and trade-in from the price, adds sales tax, and treats the result as the loan. The monthly payment then comes from the standard amortization formula, using your annual rate divided by 12. Totals use the unrounded payment, so they match what the schedule adds up to.
What is a balloon payment?
A balloon payment is a lump sum left to pay with the last installment. Because part of the loan is not repaid month by month, the monthly payment is lower, but you still owe that amount at the end and pay interest on it throughout. Make sure you can pay or refinance it when it is due.
Does a trade-in reduce sales tax?
This calculator charges sales tax on the price minus the trade-in, which is how some places treat trade-ins. Others tax the full price, and rates differ between states and countries. Check the rules where you buy or ask the dealer, then enter the rate that applies, or leave the field empty.
Is a larger down payment better?
A larger down payment means you borrow less, so the monthly payment and the total interest both fall. It also lowers the risk of owing more than the car is worth. Keep enough savings for emergencies, though. Try different amounts above to see how the payment and the total cost change.
Are fees, insurance and registration included?
No. The result covers the price, sales tax on it and loan interest. Dealer fees, registration, title, insurance, extended warranties and lender fees are not included, so your real cost can be higher. Check the full figures from your dealer and lender before signing; this page gives an estimate, not financial advice.
Why is the dealer's payment different?
Dealers may add fees or products to the amount financed, use a different term or rate than advertised, or round the payment and adjust the last one. This calculator shows only what you enter and rounds for display. Ask for an itemized breakdown of the amount financed and compare it with the figures here.
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Formula, self-tests and text last reviewed on 25 September 2026.
Results are estimates for planning and comparison. They are not a loan offer or financial advice; your lender's figures are the ones that count.