Free Auto Loan Calculator with Interest & Tax

Auto Loan Calculation Result:

Total Loan Amount: $0.00

Monthly Payment: $0.00

Total Principal Paid: $0.00

Total Interest Paid: $0.00

Total Cost of Loan (Principal + Interest): $0.00

About Auto Loan Calculator

Our free auto loan calculator helps you estimate monthly payments and total costs for your vehicle purchase. Calculate payments based on vehicle price, down payment, trade-in value, sales tax, interest rate, and loan term to make informed car buying decisions.

This comprehensive tool factors in all aspects of auto financing including taxes and trade-ins, giving you accurate payment estimates to budget effectively for your next vehicle purchase.

How to Use the Auto Loan Calculator

1. Enter Vehicle Price: Input the total price of the car you want to buy
2. Set Down Payment: Enter how much you plan to pay upfront
3. Add Trade-in Value: Input the value of your current vehicle (if trading in)
4. Enter Sales Tax Rate: Input your local sales tax percentage
5. Set Interest Rate: Enter the annual interest rate offered by your lender
6. Choose Loan Term: Select the loan duration in months or years
7. Calculate Payment: Click "Calculate" to see your monthly payment and total costs

Auto Loan Tips & Strategies

• Shop for Rates: Compare rates from banks, credit unions, and dealerships
• Improve Credit Score: Higher credit scores qualify for better interest rates
• Larger Down Payment: More money down reduces monthly payments and total interest
• Shorter Terms: Shorter loans have higher payments but less total interest
• Pre-approval: Get pre-approved to know your budget before shopping
• Total Cost Focus: Consider total cost, not just monthly payment
• Avoid Upside-down Loans: Don't finance more than the car's worth

Auto Loan Considerations

New vs Used: New cars typically offer lower interest rates but depreciate faster than used vehicles.

Loan Term Impact: Longer terms mean lower payments but more total interest paid over the life of the loan.

Additional Costs: Remember to budget for insurance, maintenance, registration, and fuel costs.

Early Payoff: Check if your lender charges prepayment penalties before making extra payments.