Auto Loan Calculator

Enter the vehicle price, down payment, annual rate, and term in months. Add sales tax and fees if you have them. Payment, interest, and total paid update as you type.

Vehicle Price ($) *

Down Payment ($)

Annual Rate (%) *

Term (Months) *

Sales Tax (%)

Fees ($)

Smart Tips

• Sales tax is applied to the vehicle price only, not to fees.

• Amount financed is the taxed price, plus fees, minus the down payment.

• The down payment cannot exceed the taxed price plus fees.

• A 0% rate divides the amount financed by the number of months.

• These figures are estimates from the inputs on this form, not a loan offer.

The Formula

Financed = (price × (1 + tax rate)) + fees − down payment
Payment = P × [r(1+r)^n] / [(1+r)^n − 1]

P = Amount financed
Taxed vehicle price, plus fees, minus the down payment

r = Monthly rate
Annual rate ÷ 12. At 0%, payment = P ÷ n

n = Term in months
Number of monthly payments

tax = Sales tax rate
Sales tax percent ÷ 100, applied to the price only

Sales tax is applied to the vehicle price only, not to fees. The payment is shown to the cent. Totals walk a cent-rounded amortization, so the last payment can be smaller than the level payment and a 0% loan shows $0.00 interest.

Key Insights

Tax On The Price

Fees are added after sales tax. Taxing the price and the fees together would finance a larger amount.

Down Payment

A larger down payment lowers the amount financed, the monthly payment, and the interest.

Term Length

More months lowers the payment and raises the total interest at the same rate.

Zero Rate

At 0% the payment is the amount financed divided by the months, and total interest is $0.00.

Frequently Asked Questions

Amount financed = (vehicle price × (1 + sales tax rate)) + fees − down payment. The sales tax rate is the sales tax percent divided by 100. Leave sales tax, fees, or the down payment blank and each one counts as zero.

No. Sales tax is applied to the vehicle price only, not to fees. Fees are added after the tax.

The down payment cannot exceed the taxed price plus fees. When it does, the page says so and does not show a payment.

The monthly payment is the standard fixed-rate annuity: payment = P × r(1+r)^n / ((1+r)^n − 1). P is the amount financed, r is the annual rate divided by 12, and n is the term in months. The payment is shown to the cent. If the annual rate is 0%, the payment is P divided by n. If nothing is financed, the payment is $0.00.

Totals come from a cent-rounded amortization of the amount financed. Each month’s interest is the remaining balance times the monthly rate, rounded to the cent. The last payment is the remaining balance plus that month’s interest when that amount is smaller than the level payment. Total paid is the sum of those payments. Total interest is that sum minus the amount financed. At a 0% rate, every month’s interest is $0.00.

The payment uses the standard fixed-rate amortization formula in the formula section. Totals use a cent-rounded schedule of that payment. No lender rate feed or dealer fee table is used. For how installment interest is disclosed on a real offer, see the CFPB explanation of APR: https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-my-interest-rate-and-apr-en-726/.

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Total Interest

Total Paid

Note:Sales tax is applied to the vehicle price only, not to fees. The payment is the standard fixed-rate annuity. These figures are estimates, not a loan offer.