Calculate your monthly auto loan payment including sales tax, down payment, and trade-in value.
Enter your details and click Calculate to see results.
Saved Presets is a Supporter feature.
Tool History is a Supporter feature.
Tool Notes is a Supporter feature.
Input the negotiated purchase price of the vehicle.
Enter how much cash you are putting down.
Add your trade-in vehicle value if applicable.
Choose interest rate, loan term, and local sales tax rate.
See your estimated monthly payment and total cost.
Monthly Payment = Loan Amount × [r(1+r)^n] / [(1+r)^n - 1], where r is the monthly interest rate and n is the number of payments. The loan amount is the vehicle price plus tax minus down payment and trade-in.
Sales tax is added to the vehicle price before calculating the loan amount. Tax rates vary by state and locality, typically ranging from 0% to 10%.
While a longer loan term reduces monthly payments, it increases total interest paid. Compare both figures to find the best balance for your budget.
A common guideline is to keep your monthly car payment under 15% of your gross monthly income. For a ,000 salary, that is about /month maximum.
