This Car Loan Calculator is a financial tool to help you understand and plan for your monthly car loan payments. It takes into account the car price, down payment, trade-in value, tax rate, annual interest rate, and the loan term in months.

Car Loan Calculator

Calculate your monthly car loan payments including down payment, trade-in, and tax.

Monthly Payment:

How to Use the Calculator

  1. Input Car Price: Enter the total price of the car you intend to purchase.
  2. Down Payment and Trade-In: Provide the amounts for any down payment or trade-in value.
  3. Include Tax Rate: Specify the sales tax rate applicable to your car purchase.
  4. Interest Rate and Loan Term: Enter the annual interest rate of your loan and the term of the loan in months.
  5. Calculate: Click the ‘Calculate’ button to see your monthly payment.

Formula Used

The monthly car loan payment is calculated using the formula:

Monthly Payment (P) = (L * c * (1 + c)^n) / ((1 + c)^n – 1)


  • P is the monthly payment.
  • L is the net loan amount (car price – down payment – trade-in value + tax).
  • c is the monthly interest rate (annual interest divided by 12 months).
  • n is the number of payments (loan term in months).

Car Loan Calculator - Plan Your Auto Finance


  • $30,000 car, 5% interest, 60 months, 7% tax, $5,000 down:
    • Monthly Payment: $487.99
  • $25,000 car, 3.5% interest, 48 months, 8% tax, $3,000 trade-in:
    • Monthly Payment: $503.22
  • $20,000 car, 6% interest, 72 months, no tax, $2,000 down:
    • Monthly Payment: $301.64

Planning Your Purchase

Understanding the total cost and monthly breakdown of your car loan helps in making informed decisions. By considering all elements of your loan, including taxes and trade-in values, you can better align your car purchase with your financial goals and capabilities.

In Conclusion

Use the Car Loan Calculator to navigate through your car financing options and plan effectively. It’s a step towards making smarter financial decisions and understanding how different factors affect your monthly payments. Start planning your purchase with confidence!