Finance tools
Car payment calculator
Free car payment calculator, auto loan calculator, and car loan calculator for US buyers. Enter vehicle price, down payment, trade-in, interest rate, and term to estimate your monthly car payment, amount financed, total interest, and full amortization schedule — with optional state sales tax and doc fees. No sign-up; export CSV or PDF.
What this car payment calculator does
This car payment calculator estimates your monthly auto loan payment from the vehicle price, down payment, trade-in equity, interest rate, and loan term. It can include sales tax and title or registration fees rolled into the financed amount — the way many dealer worksheets present out-the-door cost.
For a deep amortization schedule with extra principal payments, use our amortization schedule calculator. For sales tax rates by state, try the sales tax calculator.
How to use this auto loan calculator
Enter vehicle price and down payment
Start with the negotiated vehicle price (before tax). Subtract your cash down payment — aim for 10–20% on a new car when possible.
Add trade-in details
Enter trade-in value and any remaining loan balance on your current vehicle. Negative equity increases the amount you finance.
Set rate and term
Use your lender's APR or pre-approval rate. Pick a term with the preset chips (36–72 months) or type a custom length.
Include tax and fees (optional)
Open Advanced to select your state sales tax rate or enter a manual rate, add doc fees, and choose whether to roll them into the loan.
Review payment and schedule
See the monthly payment hero, total interest, payoff date, and a collapsible amortization schedule. Export CSV or PDF when ready.
What affects your car payment
Four inputs drive most of the monthly payment: amount financed, interest rate, loan term, and whether tax and fees are financed or paid upfront. A higher price, lower down payment, or rolled-in negative equity raises the principal. A higher APR or longer term usually lowers the monthly payment but increases total interest.
Monthly car payment formula
M = P × [r(1 + r)n] / [(1 + r)n − 1]M = monthly payment · P = amount financed · r = monthly rate (APR ÷ 12 ÷ 100) · n = term in months. At 0% APR, payment is simply P ÷ n.
How much down payment should you put on a car?
Many buyers target 10% down on a used car and 20% on a new car (Bankrate and KBB commonly cite 10–20%). A larger down payment reduces the financed amount, which lowers the monthly payment and total interest. It can also help you avoid being upside-down if the vehicle depreciates faster than you pay down principal.
| Down on a $30,000 car | Amount financed | Est. payment (7%, 60 mo) |
|---|---|---|
| 0% ($0) | $30,000 | $594.04 |
| 10% ($3,000) | $27,000 | $534.63 |
| 20% ($6,000) | $24,000 | $475.23 |
Use the calculator above to model your exact down payment, trade-in, and tax. Related search: car payment calculator with down payment — all three fields are on the main form.
Trade-in value and negative equity
Net trade-in equity equals trade-in value minus what you still owe on the old loan. Positive equity reduces the amount you need to finance. Negative equity (owing more than the trade is worth) is added to the new loan principal — a common reason the monthly payment is higher than a simple price-minus-down calculation suggests.
Sales tax and fees on a car loan
Sales tax rules vary by state. This calculator applies a combined state default rate (or your manual override) to a simplified taxable base. Doc, title, and registration fees can be entered separately and optionally rolled into the loan. For precise add/remove tax math on any amount, use the US sales tax calculator.
Loan term: 48 vs 60 vs 72 months
Longer terms spread the same principal over more months, so the monthly payment drops but total interest rises. On a $30,000 loan at 7% with no tax or fees financed, compare how term length changes the payment and lifetime interest:
| Term | Monthly payment | Total interest |
|---|---|---|
| 48 months | $718.39 | $4,482.59 |
| 60 months | $594.04 | $5,642.16 |
| 72 months | $511.47 | $6,825.85 |
Many financial guides suggest staying at 60 months or less when the budget allows — you pay about $124/month more on 48 months vs 72, but save roughly $2,300 in total interest on this example. For a $30,000 loan at 7% over 72 months, the payment is about $511.47 per month — roughly $83 less than the 60-month payment, but about $1,184 more in lifetime interest.
Credit score and auto loan interest rates
Your credit score is one of the biggest drivers of the APR a lender offers. Experian and other industry reports group borrowers into tiers; rates below are typical new-car APR ranges for illustration — your lender quote may differ. Enter your actual pre-approval rate in the calculator rather than relying on averages.
| Credit tier | Score range (FICO) | Typical APR range (new car) |
|---|---|---|
| Super prime | 781+ | 5.5% – 7.5% |
| Prime | 661 – 780 | 7.5% – 10.5% |
| Near prime | 601 – 660 | 10.5% – 14% |
| Subprime | 501 – 600 | 14% – 18% |
| Deep subprime | 300 – 500 | 18%+ |
Source: industry auto finance reports (e.g. Experian automotive finance data). Used-car rates are often higher. Improving your score before you shop — or getting a co-signer — can move you into a lower tier.
APR vs interest rate
The interest rate is the annual cost of borrowing. APR includes certain lender fees spread over the loan term, so APR is often slightly higher than the note rate. When comparing offers, use APR. This calculator uses the nominal annual rate you enter for the payment formula.
Worked example: $30,000 car, 60 months, 7%
With $30,000 financed at 7% over 60 months and no tax or fees in the loan, the monthly payment is about $594.04 and total interest about $5,642. Add a $3,000 down payment before tax and the financed amount and payment drop accordingly.
Total cost of the loan
The total cost of your car loan is the sum of every monthly payment — principal plus interest — plus anything you paid upfront (down payment, taxes, or fees not rolled into the loan). The calculator shows total interest and total loan cost in the results panel so you can compare offers beyond the monthly payment alone.
On a $30,000 loan at 7% over 60 months, total interest is about $5,642 and the sum of payments is about $35,642. A larger down payment or shorter term usually lowers both figures.
How car loan amortization works
Each payment covers interest on the remaining balance plus principal. Early payments are interest-heavy; later payments apply more to principal. Expand the schedule in the calculator or open the amortization schedule calculator to model extra principal payments and see crossover timing.
Tips before you sign at the dealer
Get a pre-approval from your bank or credit union before you visit the lot — it gives you a rate benchmark and strengthens your negotiating position. Direct lending (your bank) vs dealer financing (captive lender) can produce different APRs; compare total cost, not just the monthly payment.
Question add-ons rolled into the loan (GAP, warranties, paint protection), and confirm whether tax and fees are financed or due at signing. If you plan extra principal payments later, model them in our amortization schedule calculator — a common related search for car payment calculator with extra payments.
New cars often depreciate quickly in the first few years; a larger down payment and a shorter term reduce the risk of owing more than the car is worth.
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Frequently asked questions about this auto loan calculator
How is a monthly car payment calculated?
Lenders use fixed-rate amortization: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the amount financed, r is the monthly rate, and n is the number of months. This calculator applies that formula after subtracting down payment and net trade-in and optionally adding rolled-in tax and fees.
What is the payment on a $30,000 car for 60 months?
At 7% APR with $30,000 financed (no down payment, tax, or fees in the loan), the monthly payment is about $594.04. Your rate, down payment, trade-in, and tax change the result — adjust the calculator to match your deal.
How much down payment should I put on a car?
A common guideline is 20% on a new car and 10% on a used car. More down payment lowers the loan amount and total interest. Put down as much as you can without draining emergency savings.
What is the difference between APR and interest rate?
The interest rate is the annual borrowing cost on the principal. APR includes certain fees, so it is often higher. Compare lender offers using APR; enter the rate your lender quotes into this calculator.
How does a trade-in affect my auto loan?
Trade-in value reduces what you finance. If you still owe more than the trade is worth, that negative equity is added to the new loan, which raises the payment.
Should I roll taxes and fees into my car loan?
Rolling tax and doc fees into the loan increases principal and interest over time but reduces cash due at signing. Paying them upfront lowers total borrowing cost if you have the cash available.
What loan term is best for a car?
Shorter terms (48–60 months) usually save the most interest. 72-month loans lower the monthly payment but cost more over time and increase the risk of owing more than the car is worth. Match the term to your budget and how long you plan to keep the vehicle.
Can I see the full amortization schedule?
Yes — expand Amortization schedule in the results panel for monthly or annual views. For extra payment modeling and crossover highlights, use the amortization schedule calculator.
Does this calculator include sales tax?
Yes — open Advanced to pick a state sales tax rate, enter a manual rate, or disable tax. Rates are simplified state defaults; local rates may differ.
How accurate is this auto loan estimate?
Payments use standard US rounding to two decimal places per period, validated against Vitest golden tests. Your lender may differ slightly on day-count rules, fee handling, or trade-in tax treatment.
What credit score is needed for a $30,000 auto loan?
There is no single minimum score for a $30,000 loan — lenders weigh income, debt-to-income, and down payment too. In practice, prime borrowers (661+) usually qualify for competitive rates; near-prime (601–660) and subprime (below 600) face higher APRs or may need a larger down payment or co-signer. Check the credit-tier table above and enter your pre-approval rate in the calculator.
What's a good down payment for a $30,000 car?
For a $30,000 vehicle, $3,000 (10%) is a common minimum on used cars and $6,000 (20%) is a strong target on new cars. At 7% APR over 60 months, that drops the estimated payment from about $594 to $535 (10% down) or $475 (20% down) before tax and fees.
Is a 60-month or 72-month car loan better?
A 60-month loan usually costs less interest overall. On a $30,000 loan at 7%, 60 months is about $594/month vs $511/month for 72 months — but 72 months adds roughly $1,184 more in total interest. Choose 60 months if the payment fits your budget; use 72 only when you need the lower payment and accept the higher total cost.
How much is a $30,000 car payment for 72 months?
Financing the full $30,000 at 7% APR over 72 months (no down payment, tax, or fees in the loan) gives a monthly payment of about $511.47. A down payment, trade-in, or higher APR changes the result — use the calculator for your deal.