Calculate monthly payment, interest and total cost of a car loan.
Sales tax is added to the price before subtracting the down payment and trade-in to get the financed amount. The amortization formula spreads that balance with interest over the term. Spreading financing over more months lowers the payment but raises total interest, so the total-cost figure reveals the trade-off.
Auto Loan Payment
Payment = P x r x (1+r)^n / ((1+r)^n - 1)
Payment = P x r x (1+r)^n / ((1+r)^n - 1) Sales tax is added to the price before subtracting the down payment and trade-in to get the financed amount. The amortization formula spreads that balance with interest over the term.
Spreading financing over more months lowers the payment but raises total interest, so the total-cost figure reveals the trade-off.
This calculator takes 6 inputs: Vehicle price, Down payment, Trade-in value, Sales tax, Interest rate, Loan term. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.