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Car loan calculator

See your monthly payment, total interest and total cost — including sales tax, fees, down payment and trade-in.

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Rates depend on your credit and lender.

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Your state/local rate. Applied to price minus trade-in.

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Estimated monthly payment

$491

for 60 months at 7.5% APR

PrincipalInterest 17%

Amount financed
$24,500
Sales tax
$1,500
Total interest
$4,956
Total of payments
$29,456
Total cost (incl. down & trade)
$31,956
Shop cars up to $25,000

Common questions

How is the monthly payment calculated?

We use the standard amortized loan formula: the amount financed (price plus sales tax and fees, minus your down payment and trade-in equity) is spread over the loan term at your interest rate.

Is sales tax charged on the full price?

In most U.S. states, sales tax is charged on the price minus your trade-in value, which is what this calculator assumes. A few states tax the full price; check your state's rules.

What if I owe more on my trade-in than it's worth?

That negative equity is added to the amount you finance, which raises your payment. Enter both the trade-in value and the amount still owed to see the effect.

Is a longer loan term better?

A longer term lowers the monthly payment but increases the total interest you pay, and you may owe more than the car is worth for longer.

Is this a loan offer?

No. This is an estimate for planning only. Your actual rate and payment depend on your credit, lender and state taxes and fees.