Car loan calculator

What you actually finance

The sticker price is only the start. The amount you borrow is the price plus sales tax and fees (documentation, title, registration), minus your down payment and the value of any trade-in. In most US states, sales tax applies only to the price minus the trade-in value, which makes trading in worth more than its face value; a few states tax the full price.

Worked example

A $30,000 car with $3,000 down, a $5,000 trade-in, 7% sales tax on the full price ($2,100) and $500 in fees: you finance $30,000 + $2,100 + $500 − $3,000 − $5,000 = $24,600. At 6.9% APR for 60 months the payment is $485.95.

If your state taxes only the difference after the trade-in, the tax drops to $1,750 and you finance $24,250.

Term length

72- and 84-month loans lower the payment but cost more interest and leave you owing more than the car is worth for longer. The CFPB suggests comparing total cost, not just the monthly figure.

The page adds sales tax (on the full price, or on the price minus the trade-in if you tick the option) and fees to the price, then subtracts the down payment and the trade-in to get the amount financed. The monthly payment uses the standard annuity formula with the APR divided by 12. Total interest is all payments minus the amount financed, and the total cost adds back what you paid upfront. Everything runs in your browser.