Auto Loan Calculator

Auto Price ($)

Down Payment $ (Optional)

Interest Rate (%)

Loan Term (in months)

Sales Tax Rate (%)

Trade-in Value $ (Optional)

Amount Owed on Trade-in ($)

Start Date

Estimated Monthly Payment
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Estimated Monthly Payment
${{((autoprice+(((autoprice-(tradeval-ownedtradeval))(saletaxrate/100)))-downpayment-(tradeval-ownedtradeval))(((((intrate || 0.1) / 100) / 12)*(((((intrate || 0.1) / 100) / 12) + 1)| pow:selectedterm))/(((((((intrate || 0.1) / 100) / 12) + 1)| pow:selectedterm))-1))||0| ceil) | number}}

Lease Amount ${{(autoprice+(((autoprice-(tradeval-ownedtradeval))*(saletaxrate/100)))-downpayment-(tradeval-ownedtradeval)||0| ceil)|number}}

Sales Tax Amount ${{(((autoprice-(tradeval-ownedtradeval)))*(saletaxrate/100)||0| ceil)|number}}

Total Upfront Payment ${{((downpayment+ownedtradeval)||0| ceil)|number}}

Total Interest Cost ${{(((((autoprice+(((autoprice-(tradeval-ownedtradeval))*(saletaxrate/100)))-downpayment-(tradeval-ownedtradeval))*(((((intrate || 0) / 100) / 12)*(((((intrate || 0) / 100) / 12) + 1)| pow:selectedterm))/(((((((intrate || 0) / 100) / 12) + 1)| pow:selectedterm))-1)))*selectedterm)-(autoprice+(((autoprice-(tradeval-ownedtradeval))*(saletaxrate/100)))-downpayment-(tradeval-ownedtradeval)))||0|ceil)|number}}

Total Loan Payments ${{((((autoprice+(((autoprice-(tradeval-ownedtradeval))*(saletaxrate/100)))-downpayment-(tradeval-ownedtradeval))*(((((intrate || 0.1) / 100) / 12)*(((((intrate || 0.1) / 100) / 12) + 1)| pow:selectedterm))/(((((((intrate || 0.1) / 100) / 12) + 1)| pow:selectedterm))-1)))*selectedterm)||0| ceil)|number}}

Payoff Date 07/2029

Please Note: Documentation, tag, title, and registration fees are not included in the calculated results above. In some cases, car dealers may ask for a security deposit and disposition fees. These fees are normally associated with car leases, not car purchases.

What You Need to Know before Getting an Auto Loan

There are several important factors that will affect your vehicle car loan and determine how much you will be obligated to pay monthly and how much you will end up paying in total. By accounting for all of these factors, our advanced car loan EMI calculator can give you a clear understanding of the vehicle’s cost.

While there is not much that you can do about the sales tax, which will vary based on the state you plan to register the vehicle in, there are some things you can do to ensure you get the best deal. By understanding the individual factors affecting your loan and using the vehicle payment calculator before you talk to lender, you can be more informed and be able to shop for the best financing deal independently.

Loan Interest Rate

Your vehicle interest rate will depend highly on your credit history and credit score. Credit scores have 5 main categories:

Super Prime: (Range: 781-850) Top tier credit score. Rates can be as low as 3% for new cars and around 6% for used.
Prime: (Range: 661-780) Good credit score. Rates average 6% for new and 9% for used.
Sub Prime: (Range: 501-600) Bad credit score. Expect 14–20% interest.

Rates shown are average estimates and not fixed. Always compare offers from multiple lenders—including credit unions.

Your Down Payment

Monthly payments and total interest depend on how much you put down. Larger down payments reduce total loan costs. Avoid "0 Down" offers—they often carry unfavourable terms and higher total vehicle costs.

Loan Term

Terms often range from 24 to 72 months. Longer terms lower monthly payments but increase interest. A 6-year loan may cost 40% more than a vehicle’s resale value over time.

Do You Have a Car You Want to Trade in?

Trade-in value affects loan amount. Dealers usually offer less than market value. You might get more by selling privately. Make sure your trade-in is paid off—any remaining balance will reduce your credit towards the new purchase.

Types of Auto Loans

Excluding lease options, there are 2 types of auto loans:

New Purchase Loans — This is the most common type of car loan and it enables you to buy a car and pay for it over time along with interest and any additional legal fees/tax. A new purchase loan can be generated both on a new and a pre-owned vehicle.

Refinance Loans - This type of loan enables you to replace your current auto loan with a new one. This is typically done to replace a higher interest rate loan with a lower interest rate, decreasing the monthly payment amount, length of term or even total payoff amount.

You can use the vehicle finance calculator on any type of auto loan to generate valuable information to gain a clear understanding of the total amount paid, monthly payment amount, sales tax, amortization rate, total interest cost and predicted payoff date.

Have a Car you Want to Sell?
Get a Cash Offer for Your Old Car in 3 Easy Steps!

If you are tired of spending hours listing your car on local classifieds, answering people's inquiries who never reply to you afterwards, going on test drives with strangers and haggling over price, we can help.

Get a vehicle cash offer quote in as little as a few minutes from the comfort of your home or office.

STEP 1

Provide basic information about your car such as: Year, Make, Model, Trim, Mileage, Color & Condition.

STEP 2

Get your cash offer. You have up to 7 days to accept the offer.

STEP 3

Once you accept the offer, you will be contacted to arrange your desired payment method and vehicle pick up.

Get Your Instant Offer

Auto Loan Calculator

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