US-specific calculator
US Auto Loan Calculator
Work out the monthly payment and full cost of a car loan after sales tax, dealer fees, rebates, down payment, and trade-in equity.
Repayment schedule
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $6,979.80 | $1,952.12 | $5,027.68 | $24,172.32 |
| 2 | $6,979.80 | $1,575.25 | $5,404.55 | $18,767.77 |
| 3 | $6,979.80 | $1,170.13 | $5,809.67 | $12,958.10 |
| 4 | $6,979.80 | $734.66 | $6,245.14 | $6,712.96 |
| 5 | $6,979.46 | $266.50 | $6,712.96 | $0.00 |
What goes into the amount financed?
The amount financed starts with the vehicle price, then adds estimated sales tax and financed fees. Rebates, down payment, and positive trade-in equity reduce the loan. If you owe more on your trade-in than it is worth, that negative equity is rolled into the new loan.
Because state tax rules and dealer fees vary, treat the tax and fee fields as estimates until you have a written buyer order or loan disclosure.
For the buying context behind the inputs, read the US auto loan guide.
Formula and assumptions
The calculator builds the amount financed first, then amortizes that balance over the selected term using the APR as a nominal annual rate charged monthly.
- Trade-in equity:
trade-in value - amount owed. Negative equity increases the new loan. - Amount financed: out-the-door price minus down payment minus trade-in equity, floored at zero.
- Monthly payment:
P * r(1+r)^n / ((1+r)^n - 1), with r equal to APR divided by 12.
Frequently asked questions
Is this auto loan calculator US-specific?
Yes. It uses US auto-loan terminology such as sales tax, title and registration fees, dealer doc fees, rebates, and trade-in equity.
How is trade-in equity handled?
Trade-in equity is the trade-in value minus the amount still owed on that vehicle. Positive equity reduces the amount financed; negative equity increases it.
Does the calculator include extra payments?
Yes. Add an optional extra monthly payment to see how much faster the loan is paid off and how much interest it saves.