CM CalcMentor Calculators that explain the answer.

Financial calculator

Auto Loan Calculator

Estimate a car payment with vehicle price, down payment, trade-in value, tax, fees, APR and loan term.

Tax treatment of trade-ins differs by jurisdiction. This estimate taxes vehicle price minus trade-in, then adds fees and subtracts down payment.

Method

The calculator estimates taxable vehicle value, adds tax and fees, subtracts down payment and trade-in value, then applies the standard amortized loan payment formula.

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Example

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For a $32,000 vehicle, $4,000 down payment, 7% sales tax and 60-month loan at 6.9%, the amount financed is about $30,240 before fees and the payment is about $597 per month.

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Common mistakes

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Do not focus only on monthly payment. Longer terms can lower the payment while increasing total interest and negative-equity risk.

Limitations

This is not a dealer quote or financing offer. It excludes registration rules, rebates, insurance, maintenance, gap coverage, add-ons, variable taxes and lender-specific underwriting.

References

Last reviewed: 2026-05-16

Before relying on this result

Use this calculator together with the formula, assumptions, limitations and examples on the page. If the topic involves health, tax, lending, investment, legal, safety or current-rate decisions, treat the number as an estimate and check the relevant primary source or professional guidance.

Calculator metadata last reviewed: 2026-05-14.