US Auto Loan Calculator

Monthly payment, true cost & amortization for US auto loans

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US Auto Loan Calculator is a free, browser-based tool that lets you monthly payment, true cost & amortization for us auto loans — with zero signup, zero installation. Your data never leaves your browser. Part of 111+ free developer and business tools at wowhow.cloud, built and maintained by a team with 14+ years of hands-on development experience.

TOOLUS Auto Loan Calculator

Vehicle Price$35,000

$5K$150K

Down Payment

10%

= $3,500

Trade-In Value

Sales Tax Rate6%

0%15%

= $2,100 added to loan

Loan Term

Interest Rate (Annual APR)6.5%

0%20%

Monthly Payment

$657/month

60 months · 6.5% APR · $33,600 financed

Payment Breakdown

Principal (avg/mo)

$560.00/mo

Interest (avg/mo)

$97.42/mo

Loan Summary

Loan Amount

$33,600

Total Interest

$5,845

Total Cost

$42,945

Vehicle + Tax

$37,100

Deal Snapshot

Vehicle Price$35,000

Down Payment-$3,500

Sales Tax+$2,100

Amount Financed$33,600

Amortization Schedule

60 total payments

Month	Principal	Interest	Balance
1	$475.42	$182.00	$33,125
2	$478.00	$179.42	$32,647
3	$480.59	$176.84	$32,166
4	$483.19	$174.23	$31,683
5	$485.81	$171.62	$31,197
6	$488.44	$168.98	$30,709
7	$491.08	$166.34	$30,217
8	$493.74	$163.68	$29,724
9	$496.42	$161.00	$29,227
10	$499.11	$158.31	$28,728
11	$501.81	$155.61	$28,226
12	$504.53	$152.89	$27,722

Estimates only. Sales tax calculation assumes trade-in credit applies in your state (most US states allow this). Actual loan terms, fees, and rates vary by lender and credit score. Consult your lender or dealer for precise figures before signing.

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About US Auto Loan Calculator

An auto loan is a secured loan where the car itself serves as collateral. Unlike mortgages, auto loans are simple-interest amortized with no tax deductibility in most cases, making total interest cost a key metric. This calculator models the complete financing picture — vehicle price, down payment, trade-in credit, state sales tax, APR, and loan term — to show you the monthly payment, full amortization schedule, and the true total cost of owning your vehicle through financing.

How It Works

Auto loan payments follow standard amortization. The financed amount (principal) equals: Vehicle Price − Down Payment − Trade-In Value + Sales Tax (if rolled into loan). Sales tax in most US states applies to the purchase price minus trade-in value, so a $30,000 car with a $5,000 trade-in at 7% tax results in $1,750 tax on $25,000.

The monthly payment formula is: M = P × [r(1+r)^n] / [(1+r)^n − 1], where r = APR ÷ 12 (monthly rate) and n = loan term in months. For a $26,000 principal at 6.5% APR over 60 months: r = 0.00542, payment = $26,000 × 0.01955 / 0.3270 ≈ $509/month.

The amortization schedule tracks each payment's split between interest (balance × monthly rate) and principal (payment − interest). Interest dominates early months; principal grows as the balance falls. Total interest = (monthly payment × n) − principal. The "true cost of car" adds total interest to the purchase price plus tax, giving the complete out-of-pocket cost.

Who Is This For

Pre-dealership planning: calculate your maximum vehicle price for a target monthly payment before visiting the dealership, preventing pressure-driven financing decisions.

Comparing loan offers: run identical scenarios with dealer financing at 8.9% vs credit union pre-approval at 5.9% to quantify the exact interest savings over the loan term.

Trade-in optimization: model whether a higher trade-in value reduces your total cost more than applying the same amount as additional down payment in states with trade-in tax credits.

Loan term decision: compare 48-month vs 72-month total interest on the same principal to make an informed decision between lower payments and lower total cost.

Early payoff planning: use the amortization table to find your loan balance at any point, enabling refinancing analysis or extra principal payment planning.

How to Use

Enter the vehicle price (MSRP or negotiated price)

Add your down payment (dollar amount or percentage)

Enter trade-in value if applicable — reduces the taxable amount in most states

Set your state sales tax rate and select a loan term (24–72 months)

Enter your APR and see monthly payment, total interest, and true cost of car

Frequently Asked Questions

True cost of car = vehicle price + total interest paid over the loan term + sales tax. This is what the car actually costs you in dollars out of pocket, not just the sticker price.

Auto loans use standard amortization: Monthly Payment = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the financed amount, r is the monthly rate (APR ÷ 12), and n is the number of months. The financed amount is vehicle price − down payment − trade-in value + sales tax (if rolled in).

In most US states, yes — sales tax is applied only to the difference between the new vehicle price and the trade-in value. For example, on a $30,000 car with a $5,000 trade-in in a state with 7% tax, you pay tax on $25,000 = $1,750, not on the full $30,000. This calculator applies the trade-in tax credit automatically.

As of 2026: excellent credit (750+) qualifies for 4–6% on new cars; good credit (700–749) = 5–8%; fair credit (650–699) = 8–13%; subprime (below 650) = 13–20%+. Credit unions typically offer rates 1–3% lower than dealership financing for the same credit profile.

Shorter terms (24–36 months) mean higher monthly payments but significantly less total interest. A 72-month loan on $25,000 at 7% costs about $3,800 more in total interest than a 36-month loan. Avoid 72+ month loans unless necessary — cars depreciate faster than long-term loans pay down, leaving you "underwater" (owing more than the car is worth).

Paying sales tax upfront reduces your loan amount and total interest paid. Rolling it in increases the financed amount and adds interest on the tax. On a $2,000 tax amount at 7% APR for 60 months, rolling it in adds about $375 in extra interest. If you can afford to pay tax upfront, do so.

The amortization table shows each monthly payment split into principal and interest portions. In early months, most of your payment is interest. By the final months, almost all goes to principal. The table helps you see the payoff balance at any point, useful if considering early payoff or refinancing.

This calculator does not include dealer documentation fees ($200–800), title and registration fees ($50–400 depending on state), GAP insurance ($200–700 if financed), extended warranty costs, or dealer-installed add-ons. Always request an itemized out-the-door price from the dealer.