A 30,000 car with a trade-in
Price 30,000, 3,000 down, a 5,000 trade-in and 6% sales tax: tax is 1,500 and 23,500 is financed. At 6% APR over 60 months the payment is 454.32, with 3,759.25 in interest.
Car Loan Calculator
Work out a car loan payment with the down payment, trade-in, sales tax and interest rate.
Result
Enter your values and select Calculate to see the result.
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How the Car Loan Calculator works
Enter the car price, your down payment, trade-in value (and anything still owed on it), the sales tax rate, the APR and the loan term. The calculator works out the sales tax, the amount you'll finance and the fixed monthly payment, plus the total interest and the full cost of the car. Money still owed on a trade-in (negative equity) is added to the new loan.
Formulas
Amount financed
financed = price − trade-in + owed on trade-in + tax − down payment
Sales tax = (price − trade-in) × tax rate.
Monthly payment
M = P × r(1 + r)n ÷ ((1 + r)n − 1)
P is the amount financed, r = APR ÷ 12 and n the number of months.
Examples
Negative equity
If you still owe 2,000 on the trade-in, the amount financed rises to 25,500 — you pay off the old car inside the new loan.
Frequently asked questions
Is a longer loan better?
A 72- or 84-month loan lowers the payment but adds interest, and the car can be worth less than you owe for years. Compare terms with the total interest in mind.
Why is sales tax on the price after the trade-in?
Most US states tax only the difference, which is one reason trading in can beat selling privately. Where the full price is taxed, the tax is higher by the trade-in value × the tax rate — add that to the price for a close estimate, or ask the dealer.
What isn't included?
Dealer fees, registration, extended warranties and insurance. Ask for the out-the-door price. This is an estimate, not financial advice.
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