Auto Loan Calculator
Calculate your monthly car payment with down payment, trade-in, sales tax, and loan term. See total interest and true cost of ownership.
Monthly Payment
$625.84
60 months at 5.9% APR
Loan Amount
$32,450.00
Sales Tax
$2,450.00
Total Interest
$5,100.50
True Cost
$42,550.50
Term Comparison
36 mo$985.72/mo$3,036.00 interest
48 mo$760.60/mo$4,058.91 interest
60 mo$625.84/mo$5,100.50 interest
72 mo$536.26/mo$6,160.70 interest
84 mo$472.49/mo$7,239.45 interest
Frequently Asked Questions
What is a good interest rate for a car loan?+
As of 2026, good rates are 4-6% for new cars and 5-8% for used cars with good credit (700+). Rates above 10% are typically subprime. Credit unions often offer lower rates than dealership financing.
How much should I put down on a car?+
20% is ideal for new cars, 10% for used cars. A larger down payment reduces your monthly payment, total interest, and the risk of being 'upside down' on the loan (owing more than the car is worth).
Is a longer loan term better?+
Longer terms (72-84 months) have lower monthly payments but cost significantly more in total interest. A 60-month loan is the sweet spot for most buyers — reasonable payments without excessive interest.
Does trade-in value reduce sales tax?+
In most US states, yes. Sales tax is calculated on the price minus trade-in value. This calculator applies that deduction automatically.