Auto Loan Calculator
Calculate monthly car payments with down payment and trade-in value.
Monthly Payment$578.59
Loan Amount$30,000.00
Total Interest$4,715.41
Total Cost$34,715.41
Car payment from price, down payment, trade-in, rate, and term. The amount financed is price − down − trade-in, then the same amortizing formula as the loan calculator.
Formula
Payment on (price − down − trade-in) using M = P × r(1+r)^n / ((1+r)^n − 1) over the term in months.
How to calculate
- Subtract down payment and trade-in from the vehicle price to get P.
- Use monthly rate and term in months.
- Add tax or fees only by including them in the price; they are not automatic.
Example
A $35,000 car, $5,000 down, 5.9% for 60 months is about $579/month.
Common mistake
Dealer add-ons, registration, and sales tax change P. Leaving them out understates the payment.
FAQ
How do I calculate a car payment?
Subtract down payment and trade-in from price, then amortize the remainder at the loan rate and term.
Does this include tax and fees?
Only if you add them to the vehicle price. Registration and dealer fees are not automatic.