Work out your monthly car payment before you visit the dealer. Add the price, down payment, trade-in, APR and term, and the calculator includes sales tax and fees in the amount financed.
What goes into the amount financed
Amount financed = price + sales tax + fees − down payment − trade-in. In most states sales tax is charged on the price after your trade-in credit, which is what this calculator assumes.
Example car payments
10% down, 7% APR, 6% sales tax and $800 in fees.
| Car price | Term | Monthly payment | Total interest |
|---|---|---|---|
| $25,000 | 48 mo | $593.87 | $3,706 |
| $35,000 | 60 mo | $681.16 | $6,470 |
| $35,000 | 72 mo | $586.49 | $7,827 |
| $50,000 | 72 mo | $831.99 | $11,103 |
Stretching from 60 to 72 months lowers the payment by about $95 on a $35,000 car but adds more than $1,300 of interest — and keeps you upside down on the loan for longer.
Frequently asked questions
What is a good APR for a car loan?
It depends heavily on credit score and whether the car is new or used. Borrowers with excellent credit often see new-car rates far below those offered to subprime borrowers, so compare a credit union or bank quote with the dealer offer.
Should I choose a 72- or 84-month loan?
Longer terms lower the payment but raise total interest, and cars lose value fast. If the payment only works at 72+ months, consider a cheaper car or a larger down payment.
Is the dealer fee the same everywhere?
No. Documentation, title and registration fees vary by state and dealer. Ask for an itemized out-the-door price and enter the total in the fees box.
Related calculators
Estimates only. Rates, taxes and fees vary by lender, state and dealer.
