Auto Loan Calculator
This tool shows what a car really costs once interest is added to the sticker price. It folds in sales tax, subtracts your down payment, and spreads the rest across the term you choose. Move the sliders to see how a bigger down payment or a shorter term changes your monthly payment and the total interest you pay.
How this math works
The calculator starts with the vehicle price, adds sales tax, then subtracts your down payment to find the amount financed. That balance is spread across the term using a standard fixed-rate loan formula, where each monthly payment covers interest on the remaining balance plus a slice of the principal. The result is your monthly payment, the amount financed, and the total interest paid over the life of the loan.
Notice how the term does most of the heavy lifting on your monthly payment. Stretching a loan from five years to eight lowers what you pay each month, but you make more payments and the total interest climbs, because interest keeps accruing on a balance that shrinks more slowly. A larger down payment cuts both the monthly payment and the total interest at the same time.
Common questions
Does this include sales tax and fees?
It adds sales tax to the vehicle price before financing, since most buyers roll tax into the loan. It does not include title, registration, or dealer fees, which vary by location, so treat the result as a close estimate rather than an exact figure.
Should I make a bigger down payment?
A bigger down payment lowers the amount financed, which reduces both your monthly payment and the total interest you pay. It also helps you avoid owing more than the car is worth, which matters because vehicles lose value quickly in the first few years.
Is a shorter loan term better?
A shorter term means higher monthly payments but far less interest overall, because you are borrowing the money for less time. If the monthly payment fits your budget, a shorter term is usually the cheaper choice in the long run.
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