Everyday tool · ≈ 2 min · Auto loans
Auto Loan Calculator
Estimate your monthly car payment and the true total cost of the loan, including tax and fees.
Showing example defaults — change any input to use your own
Loan estimate
Estimated monthly payment
$541
You'd finance $27,340 at 7% for 60 months, paying $5,142 in interest — a total loan cost of $32,482.
- Sales tax
- $1,740
- Amount financed
- $27,340
- Total interest
- $5,142
- Total loan cost (payments)
- $32,482
- All-in vehicle cost
- $42,482
Principal vs. interest over the loan
View data table
| Category | Amount | Share |
|---|---|---|
| Principal | $27,340 | 84% |
| Interest | $5,142 | 16% |
What this may mean for you
Compare this same vehicle at a shorter term before deciding — the payment rises, but the interest line often falls by thousands. If the payment only works at 60 months, that's usually the budget talking.
Results are estimates for educational purposes and may not reflect your complete financial or tax situation.
Understanding this calculator
Dealers sell payments; lenders profit on terms. Stretching a loan from 60 to 84 months shrinks the monthly number while quietly growing the interest — and increases the years you'll owe more than the car is worth. Before you shop, know your amount financed: price plus tax and fees, minus down payment and trade-in. That's the number that actually gets amortized.
In most states sales tax applies to the price after your trade-in is subtracted, which makes trading in slightly more valuable than a private sale price alone suggests — the calculator has a toggle for states that differ.
Assumptions and methodology
- Amount financed = price + sales tax + fees − down payment − trade-in.
- Sales tax applies to price minus trade-in when the toggle is on (the rule in most states).
- Standard amortization at your APR and term; total loan cost = all payments; total interest = payments − amount financed.
Official sources
Last reviewed August 30, 2026. Year-specific figures show their tax or data year in the tool; data is reviewed when the IRS, SSA, and CMS publish annual updates.
Common questions
What loan term should I choose?
The shortest one whose payment fits your budget. If a car only works at 84 months, it's usually a more-car-than-budget signal rather than a financing win.
Next step
See how this fits your whole retirement
One number is a start. The plan builder puts income, spending, savings, and taxes together year by year — free, no account, and every answer can be changed later.
Keep going
- Snowball vs. AvalancheBuild a payoff plan across all your debts and compare the avalanche and snowball methods.Calculator
- Income After TaxesEstimate your take-home pay after federal, state, and payroll taxes — by year, month, and paycheck.Calculator
- Emergency FundSet a right-sized emergency fund target and see how long it will take to get there.Calculator
Want a professional's take? Downshift can introduce you to a financial advisor, CPA, or retirement planner who can talk through what these numbers mean for you — free to you, no obligation.
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