Auto Loan Calculator

About Auto Loans & Tips

How This Calculator Works

This calculator helps you estimate monthly payments, total interest, and costs for a U.S. auto loan. Enter your car price, down payment, loan term, interest rate, and fees to see a detailed breakdown and amortization schedule.

Financing Options

  • Direct Lending: Get pre-approved by a bank, credit union, or online lender. Shop for the best rate and bring your own financing to the dealer.
  • Dealership Financing: The dealer arranges the loan, sometimes with special low-rate offers or rebates from manufacturers.

Common Fees

  • Sales Tax: Most states charge sales tax on car purchases. A few (AK, DE, MT, NH, OR) do not.
  • Document Fee: Dealer paperwork processing fee.
  • Title & Registration: State fees for legal ownership and plates.
  • Advertising/Destination Fee: Shipping and regional marketing costs.
  • Insurance: Required before you drive. Full coverage is often needed for loans.
  • Other Fees: Dealer add-ons or local charges.

You can include these fees in your loan or pay them upfront. Rolling them into your loan increases your monthly payment.

Rebates & Trade-ins

  • Rebates: Manufacturer cash rebates lower your price. In some states, sales tax is calculated before rebates.
  • Trade-in Value: Trading in your old car reduces your loan amount. In many states, you only pay sales tax on the price difference.

Loan Strategies & Tips

  • Know your budget and research prices before visiting a dealer.
  • Check your credit score—better credit means lower rates.
  • Compare offers from several lenders and dealers.
  • Do the math: sometimes a cash rebate is better than a low interest rate, or vice versa.
  • Check for early payoff penalties before signing.
  • Consider used cars or leasing for lower payments.
  • Think carefully—do you really need a new car?

Paying With Cash

Paying in full means no monthly payments or interest, and sometimes extra discounts. But if you can get a very low loan rate and invest your cash elsewhere for a higher return, financing may make sense.

Loan Strategies & Car Buying Tips

  • Be well-prepared: know your budget and research your desired vehicle before visiting a dealership.
  • Compare offers: get quotes from multiple lenders and negotiate for the best deal.
  • Credit matters: higher credit scores generally mean lower interest rates.
  • Decide between cash rebate and low interest: sometimes a cash rebate saves more than a lower interest rate—compare both.
  • Early payoff: paying off your loan early can save interest, but check for prepayment penalties.
  • Consider used cars or leasing for potential savings.
  • Evaluate if you really need to buy a car—public transport, carpooling, biking, or walking may be viable alternatives.
  • Review all fees and ask for explanations for any unfamiliar charges.
  • Auto insurance is mandatory and can be a significant cost—get quotes early.