Calculate your monthly car payment and total loan cost before you buy.
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Before you negotiate at the dealership, know your numbers. Our car loan calculator shows your monthly payment, total interest, and full loan cost for any vehicle price, down payment, trade-in value, interest rate, and loan term — including sales tax.
Loan amount = vehicle price − down payment − trade-in value + sales tax.
Monthly payment uses standard amortization formula.
Sales tax is applied to the vehicle price before down payment and trade-in are subtracted (varies by state).
No dealer fees, registration, or documentation fees are included.
In 2024, average auto loan rates range from about 5% for excellent credit (720+) to 10–15%+ for poor credit. Credit unions often offer rates 1–2% lower than banks. Always get pre-approved before visiting the dealership so you have negotiating leverage.
Shorter terms (36–48 months) mean higher monthly payments but far less interest paid overall. Longer terms (72–84 months) lower your monthly payment but significantly increase total cost — and you risk being "underwater" (owing more than the car is worth) for years. Most financial advisors recommend no longer than 60 months for new vehicles.