Auto Loan Calculator

Estimate what your monthly payment will be for auto financing

A new or used car, outside of buying a home, is one of the largest purchases most people will make in their lives. Because of this, it is important for you to calculate what your car payment will be and just how much you can afford on a car loan. This simple auto loan calculator will show you how much your monthly payment will be (depending on the figures you input). In addition, it can also show you the effects of adding extra payments to your auto loan.

Estimate your monthly payment for your next car using the calculator below

Vehicle Price

$

Vehicle Price

The Manufacturer Suggested Retail Price (MSRP) or “sticker price” is the recommended selling price for the vehicle. The Dealer may adjust the actual selling price, either higher or lower. The MSRP excludes transportation and handling charges, destination charges, taxes, title, registration, preparation and documentary fees, tags, labor and installation charges, insurance, optional equipment or packages and accessories.

Cash Down Payment

$

Cash Down Payment

The Down Payment is an up-front cash payment made when you purchase the vehicle that reduces the amount financed. This app uses a default cash down payment of 20% of MSRP.

Trade-In Value

$

Trade-In Value

The Trade-In Value is the value of your trade-in vehicle. The dealer will determine the amount you actually receive for your trade-in vehicle.

Tax Rate

%

Tax Rate

The sales tax rate provided is for sample purposes only. This app uses a default tax rate of 0%. If you know the sales tax rate for your location, please enter it in the field provided.

Term

mo

Term

Term represents the repayment period in months for the amount financed. This app uses a default term of 60 months.

APR

%

APR

APR is the Annual Percentage Rate. Actual APR is based on the creditworthiness of the customer. Not all customers will qualify for the lowest rate.

Interest

1550

Interest

Interest is the dollar amount the credit will cost you.

Taxes

0

Taxes

The amount presented for taxes reflects the dollar amount of tax based on the MSRP and Tax Rate shown.

Estimated Total Cost (including taxes and interest)

31,550

Estimated Total Cost

The Estimated Total Cost is a summation of the Amount Financed, Finance Charge and Taxes and any cash down payment and/or net trade-in amount.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Important Terms Defined

Auto Loan Amount: This is the total amount financed by your car loan.

Auto Loan Term: The total number of months that your auto loan will run for.

Interest Rate: The rate charged for the use of a car loan. This figure is generally expressed as an annual percentage rate of the principal balance of the auto loan.

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