Calculators
Auto Loan Calculator
Auto Loan Calculator is part of Toolspire and is ready as soon as this page loads. Work out your car payment the way the dealer will: price, rebate, trade-in and what you still owe on it, sales tax, fees and APR – then compare terms and decide between a low APR and cash back.
On this page
What you can do here
Dealer math, made clear
Rebate, trade-in, payoff, tax and fees are applied in the right order, so the amount financed matches the buyer’s order.
Sales tax done properly
Choose whether your state credits the trade-in against tax and whether the rebate is taxed.
Negative equity flagged
See exactly how much of an old loan rolls into the new one, and what it does to the payment.
Low APR or cash back
Put a dealer’s special rate against a rebate with your own financing and see which costs less over the loan.
Term comparison
A table of 36- to 84-month payments and interest shows the real price of a lower payment.
Private
No account and no dealer leads – the numbers stay on your device.
The sequence
How to calculate a car payment
- 1
Enter the price and rebate
Type the negotiated vehicle price, any cash rebate and your cash down payment.
- 2
Add your trade-in
Enter what the dealer gives for your current car and what you still owe on it.
- 3
Set tax and fees
Enter your sales tax rate, how your state treats trade-ins and rebates, and the title, registration and dealer fees.
- 4
Choose the loan
Enter the APR and pick a term from 36 to 84 months.
- 5
Compare
Read the payment and total cost, compare terms, and test a low-APR offer against cash back.
Worth knowing
- Auto Loan Calculator on Toolspire: covers everything on the buyer’s order: vehicle price, cash rebate, down payment, trade-in value, what you still owe on the trade-in, sales tax and fees.
- Example: a $35,000 car with an $8,000 trade-in ($3,000 owed), $3,000 down, 7% sales tax and $800 of fees at 6.5% APR for 60 months is $580.92 a month, with $5,165 of interest.
- In most states the trade-in lowers the taxed price – $1,890 of tax instead of $2,450 in that example. California, Hawaii, Virginia and Washington DC tax the full price; Michigan limits the credit.
- Negative equity – owing more on the trade-in than it is worth – is added to the new loan, and the calculator warns you when it is.
- Shows the out-the-door price, the cash due at signing, the total of payments and the total cost with interest, and lets you pay tax and fees upfront or in the loan.
- Low APR or cash back? On that example, 1.9% APR beats $2,500 cash back at 6.5% by $774. Compare any two offers.
- Compares 36- to 84-month terms, estimates the price a monthly budget covers and builds the amortization schedule. Nothing you enter leaves your browser.
How the amount financed is worked out
Sales tax is charged on the price – less the trade-in in states that allow it, and usually before a manufacturer rebate. Whether fees such as the documentation fee are taxed varies by state; the calculator taxes the price only.
- Price − rebate – what the car costs after incentives.
- − trade-in equity – the trade-in value minus what you owe on it; if you owe more, the difference is added instead.
- − down payment – cash you pay at signing.
- + sales tax and fees – if you choose to finance them rather than pay them upfront.
Car payment by term
For $29,690 financed at 6.5% APR. Long terms lower the payment but more than double the interest, and leave you owing more than the car is worth for longer.
| Term | Monthly payment | Total interest |
|---|---|---|
| 36 months | $909.97 | $3,069 |
| 48 months | $704.10 | $4,107 |
| 60 months | $580.92 | $5,165 |
| 72 months | $499.09 | $6,244 |
| 84 months | $440.88 | $7,344 |
FAQ
Questions about Auto Loan Calculator
Where does Auto Loan Calculator run?
How do I calculate my car payment?
Does a trade-in reduce sales tax?
What happens if I owe more than my trade-in is worth?
Is 0% APR or cash back better?
What is the out-the-door price?
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