Car Payment Calculator
Turn a vehicle price, down payment, trade-in, sales tax, and today's auto-loan APR into a real monthly payment — with total interest, an amortization curve, and the full cost of the car.
A $35,000 car with $5,000 down at the current 7.4% new-car APR (FRED, Q2 2026) runs about $649/mo over 60 months — $6,471 in interest.
$649
$35,000 car, $5,000 down, 7.4% APR, 60 months
$6,471
Total interest paid over the life of that loan
7.4% / 10.8%
Live new / used auto-loan APR (FRED, as of Q2 2026)
What sets your car payment
Price, cash up front, today's rate, and the cost of tax and interest.
Payment is driven by four numbers
The price, your down payment and trade-in, the APR, and the term together set the payment. Cash up front and a shorter term lower it; a higher rate or longer term raise the total you pay.
New and used carry different rates
Used-car loans price higher than new. The calculator opens with the live 7.4% new-car rate and switches to 10.8% when you choose "used" (FRED, Q2 2026) — both fully editable to match your offer.
Don't forget tax and interest
Sales tax is usually financed alongside the car, and interest is the real cost of spreading payments out. Together they push the all-in cost well above the sticker price.
How the Car Payment Calculator Works
Formula
salesTax = max(0, price − tradeIn) × taxRate
amountFinanced = max(0, price + salesTax − downPayment − tradeIn)
r = APR ÷ 12
monthlyPayment = financed × r ÷ (1 − (1+r)^−n) (n = term in months)
totalInterest = monthlyPayment × n − financed
totalCost = price + salesTax + totalInterestPick new or used
Sets the live default APR (new 7.4%, used 10.8%).
Enter the price and cash
Vehicle price, down payment, and any trade-in value.
Set the rate and term
Adjust the APR to your offer and choose the loan length.
Match your sales tax
Tax rates vary by state and locality.
Review the payment
See the monthly figure, total interest, and the all-in cost.
Sales tax is financed with the car and the trade-in reduces both the taxable price and the amount financed, mirroring how most dealerships structure a deal. The result is an estimate — your lender's exact terms, fees, and any rate add-ons will refine it.
The APR defaults are the current commercial-bank averages from FRED: 7.4% new and 10.8% used, as of Q2 2026 (last refreshed 2026-06-08). They are editable so you can plug in a pre-approval or dealer quote.
Frequently Asked Questions
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