Auto Loan Calculator

Written byOleh Soloninupdated 25 September 2026

Currency

Vehicle price

Down payment as

Down payment

Annual interest rate, %

Term (months)

Advanced options

Taxes and fees

Optional: add fees and taxes to the financed amount.

Trade-in credit

Dealer rebate

Result

Financed amount

$40,000.00

Monthly payment

$794.69

Total interest

$7,681.56

Down payment and share of price

5,000 (11.1%)

Total paid to the lender

$47,681.56

What the car costs in all

$52,681.56

This result is informational only and is not professional advice.

Principal$40,000.00

Interest$7,681.56

Balance trend

Month 1$39,443.31

Month 12$33,096.68

Month 23$26,322.08

Month 34$19,090.66

Month 45$11,371.61

Month 56$3,132.04

Payment schedule

Long schedules are grouped for easier scanning

Period	Payment	Interest	Principal	Balance
1-3	$2,384.08	$704.04	$1,680.03	$38,319.97
4-6	$2,384.08	$673.88	$1,710.20	$36,609.76
7-9	$2,384.08	$643.17	$1,740.91	$34,868.85
10-12	$2,384.08	$611.91	$1,772.17	$33,096.68
13-15	$2,384.08	$580.08	$1,803.99	$31,292.69
16-18	$2,384.08	$547.69	$1,836.39	$29,456.30
19-21	$2,384.08	$514.72	$1,869.36	$27,586.94
22-24	$2,384.08	$481.15	$1,902.93	$25,684.01
25-27	$2,384.08	$446.98	$1,937.10	$23,746.91
28-30	$2,384.08	$412.20	$1,971.88	$21,775.03
31-33	$2,384.08	$376.79	$2,007.29	$19,767.74
34-36	$2,384.08	$340.74	$2,043.33	$17,724.40
37-39	$2,384.08	$304.05	$2,080.02	$15,644.38
40-42	$2,384.08	$266.70	$2,117.37	$13,527.01
43-45	$2,384.08	$228.68	$2,155.39	$11,371.61
46-48	$2,384.08	$189.98	$2,194.10	$9,177.51
49-51	$2,384.08	$150.58	$2,233.50	$6,944.02
52-54	$2,384.08	$110.48	$2,273.60	$4,670.41
55-57	$2,384.08	$69.65	$2,314.43	$2,355.99
58-60	$2,384.08	$28.09	$2,355.99	$0.00

Price, down payment, trade-in and fees, and the full cost of the car

Work out a car loan payment and total interest from the vehicle price, down payment, trade-in, rebates, taxes and fees, rate and term, and see what the car costs in total with interest.

A car loan starts from the vehicle price: how much you borrow after the down payment, trade-in and any rebate, what the monthly payment will be and how much interest you pay over the term. The calculator shows the loan amount, the payment, the total interest and the full cost of the car including interest.

Taxes and fees that are rolled into the loan are added to the amount borrowed, so you pay interest on them too; the calculator shows how much of the interest they account for.

How to use

Enter the vehicle price and your down payment, as an amount or a percentage of the price.
Enter the rate from the lender's offer and the term in months: 5 years is 60 months.
In the extra fields, add taxes and fees included in the loan, your trade-in value and any rebate.
Compare the payment, total interest and total cost across different down payments and terms.

How an auto loan payment is worked out

Loan amount = vehicle price + taxes and fees in the loan − down payment − trade-in − rebate. The payment then follows the standard formula: loan × r ÷ (1 − (1 + r)^−n), where r is the annual rate ÷ 12 ÷ 100 and n the number of months.

Example: a 45,000 car with 5,000 down at 7.14% over 60 months. The loan is 40,000, the payment 794.69 a month and the interest 7,681.56. With the down payment the car costs 52,681.56 in total. The 7.14% rate is the Federal Reserve G.19 average for 60-month new car loans at commercial banks in the second quarter of 2026.

Loan term: 36 to 84 months

A longer term lowers the payment, but the interest climbs faster than the payment falls. Going from 36 to 84 months on a 40,000 loan cuts the payment by 631.20 a month and adds 6,386.42 in interest.

Loan of 40,000 at 7.14%. Worked out with this calculator.
Term	Monthly payment	Total interest
36 months	1,237.65	4,555.25
48 months	960.45	6,101.60
60 months	794.69	7,681.56
72 months	684.65	9,294.98
84 months	606.45	10,941.67

How the down payment changes the loan

Every 5,000 of down payment or trade-in value takes 5,000 off the loan, about 99 off the payment and about 960 off the interest over five years.

Car price 45,000, 7.14% over 60 months. Worked out with this calculator.
Down payment	Loan amount	Monthly payment	Total interest
0	45,000	894.03	8,641.76
5,000	40,000	794.69	7,681.56
10,000	35,000	695.36	6,721.37
15,000	30,000	596.02	5,761.17

Trade-ins, rebates, taxes and fees

A trade-in and a rebate both reduce the amount you borrow, exactly like extra down payment. Taxes and fees work the other way when they are rolled into the loan: they raise the balance and earn interest for the whole term, so paying them upfront is cheaper if you can.

Lenders may accrue interest by the day and add products to the loan, so compare the payment schedule and total cost in the loan documents with the result here.

What this calculator shows

The loan amount after down payment, trade-in and rebate
The monthly payment, total interest and total payments to the lender
The full cost of the car including interest
How much of the interest comes from taxes and fees rolled into the loan

What to keep in mind

The rate is fixed and payments are equal, with interest at the annual rate ÷ 12 each month.
Taxes and fees entered are added to the loan; anything paid upfront is not included.
Registration, insurance, fuel and maintenance are not part of the calculation.

Where the numbers come from

Checked against the standard annuity payment formula.

FAQs

How do I calculate a car payment?

Subtract the down payment, trade-in and rebate from the price to get the loan, then apply loan × r ÷ (1 − (1 + r)^−n). A 40,000 loan at 7.14% over 60 months is 794.69 a month.

What is the payment on a 40,000 car loan?

At 7.14% it is 1,237.65 over 36 months, 794.69 over 60 months and 606.45 over 84 months, with total interest of 4,555.25, 7,681.56 and 10,941.67 respectively.

Is a 72- or 84-month car loan a bad idea?

It lowers the payment but costs more: on 40,000 at 7.14%, 84 months costs 10,941.67 in interest against 7,681.56 over 60 months. Check the total cost as well as the monthly figure.

Does a trade-in reduce the loan?

Yes, it works like extra down payment: every 5,000 of trade-in value cuts the loan by 5,000 and, in the example above, the interest by about 960 over five years.

Should I roll taxes and fees into the loan?

If you can pay them upfront, it is cheaper, because amounts rolled into the loan earn interest for the whole term. The calculator shows how much of the interest they add.

How much should I put down on a car?

The more you put down, the less you borrow and the less interest you pay. Use the down payment field to compare; each 5,000 in the example saves about 99 a month and 960 in interest.

Why is the lender's payment different?

Lenders can accrue interest by the day and may include extra products in the loan. Compare with the payment schedule and total cost in your loan documents.

Worked example

A 45,000 car with 5,000 down

Input: Price 45,000; down payment 5,000; rate 7.14%; 60 months

Output: Loan 40,000; payment 794.69; interest 7,681.56

Note: Including the down payment the car costs 52,681.56. Over 36 months the payment would be 1,237.65 and the interest 4,555.25.

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