Car Payment Calculator
Estimate your monthly car payment based on loan amount, interest rate, and loan term. Includes taxes, fees, and trade-in value.
Published by:
isCalculator Editorial Team
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How to use this tool?
How to Use the Car Payment Calculator
- Enter your car details – Fill in the Car Price, Down Payment, Trade-In Value, and Sales Tax (as a percentage).
- Set loan terms – Input the Interest Rate (annual %), Loan Term (in months), and Other Fees (e.g., registration).
- Click "Calculate" – The button runs the standard auto loan formula.
- Review results – You’ll see:
- Monthly Payment – Your estimated monthly installment.
- Loan Amount – The financed amount after down payment, trade-in, tax, and fees.
- Total Interest – Interest paid over the loan term.
- Total Cost – The full amount you’ll pay (loan + interest).
Note: All monetary values are in US dollars ($). Enter numbers only (no commas or symbols). The calculator uses the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n – 1].
Previous Results
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Frequently Asked Questions
The monthly payment is calculated using the loan amortization formula: M = P * [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the number of payments.
You need the car price, down payment, trade-in value, sales tax rate, interest rate, loan term in months, and any other fees.
Yes, the calculator works for both new and used cars. Just enter the purchase price and other relevant details.
