Auto loan calculator
Before you sign at the dealership you want three numbers: what you will pay each month, how much interest you will pay in total, and what the car really costs once tax, fees and interest are added. This calculator gives all three instantly, with every state’s vehicle sales tax preloaded.
Base state rate; your county or city may add a surcharge.
- Amount financed
- $27,475
- Sales tax
- $2,175
- Total interest
- $5,090
- Total cost of the car
- $37,565
Compare terms at the same rate
| Length | Monthly payment | Total interest | Total cost of the car |
|---|---|---|---|
| 36 months | $847.09 | $3,020 | $35,495 |
| 48 months | $656.65 | $4,044 | $36,519 |
| 60 months | $542.74 | $5,090 | $37,565 |
| 72 months | $467.10 | $6,156 | $38,631 |
| 84 months | $413.33 | $7,245 | $39,720 |
Every extra 12 months lowers the payment but raises total interest.
Amortization schedule
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $542.74 | $157.98 | $384.76 | $27,090.24 |
| 12 | $542.74 | $132.93 | $409.81 | $22,709.01 |
| 24 | $542.74 | $103.74 | $439.00 | $17,603.57 |
| 36 | $542.74 | $72.48 | $470.27 | $12,134.49 |
| 48 | $542.74 | $38.98 | $503.76 | $6,275.88 |
| 60 | $542.74 | $3.10 | $539.64 | $0.00 |
60 months
Save this calculation and follow your plan
In the Boosteate app your cards, loans and banks connect on their own: you will see the real APR, the minimum payment and a plan to get out of debt with your numbers, not examples.
Join the waitlistHow it is calculated
The amount financed is the price plus sales tax and fees, minus the down payment and the value of the vehicle you trade in. Most states tax the price minus the trade‑in; a few (California, Kentucky, Virginia, Hawaii, DC) tax the full price. The calculator applies each state’s rule.
The monthly payment comes from the standard amortization formula: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount financed, r the annual rate divided by 12 and n the number of months. Each payment covers that month’s interest first and the rest reduces principal, which is why early payments are mostly interest.
The term comparison keeps the same rate: a longer loan lowers the payment but raises total interest, and at 72–84 months it is easy to owe more than the car is worth for years.
Frequently asked questions
What rate (APR) should I enter?
Whatever the lender offers you. As a reference, in 2025–2026 new‑car loans run about 5–8% with good credit (720+), 9–13% with fair credit (620–719) and above 14% with poor credit. Used cars usually cost 1–3 points more. Get pre‑approved at your bank or credit union before visiting the dealer.
How much should I put down?
The usual rule is at least 20% on a new car and 10% on a used one: it covers first‑year depreciation and keeps you from going “underwater” (owing more than the car is worth). A bigger down payment means a lower payment and less total interest.
Is sales tax financed?
Usually yes: the dealer adds it to the price and it becomes part of the loan, so it accrues interest too. That is why it appears inside the amount financed. Your county or city may add a local surcharge to the state rate shown.
What term is reasonable?
The shortest you can comfortably afford: 36–60 months. At 72 or 84 months the payment looks easy, but you pay far more interest and the car may need repairs before it is paid off.
These calculators are educational estimates based on the numbers you enter; they are not a credit offer nor financial, legal or tax advice. Reference rates are reviewed yearly.