Car Loan Calculator
Calculate your monthly car payment, total interest, and how trade-in, tax, and fees change the loan.
Your details
Negative equity gets rolled into the new loan
Loan terms
Taxes & fees
This calculator runs entirely on your device. Nothing you enter is uploaded, stored, or sold. How this works
Monthly car payment
$824.06
$41,370 financed over 60 months at 7.25%
Includes your inputs, the full breakdown, and every row of the table.
Total interest
$8,074
Total cost of the car
$54,444
Price, tax, fees, and interest
Amount financed
$41,370
Underwater until
Never
Loan balance exceeds estimated value
- Vehicle price
- $42,000
- Sales tax (8.50%)
- $3,570
- Title, registration & fees
- $800
- Cash down
- - $5,000
- Amount financed
- $41,370
- Total interest
- $8,074
- Total of payments
- $49,444
What this means
- Shorter terms cost more per month but dramatically less overall, and you build equity fast enough to stay above water.
- Aim for at least 20% down to avoid being underwater during the steep first-year depreciation.
How the car loan calculation works
A car loan payment depends on four inputs: amount financed, rate, term, and any negative equity rolled in from a previous loan. Sales tax and dealer fees are usually financed too, which is why the loan often exceeds the sticker price you negotiated.
The chart compares your loan balance to the vehicle's estimated value. New cars lose roughly 20% in the first year, so long terms and small down payments leave you underwater — owing more than the car is worth — for years. That matters the moment the car is totalled or you need to sell.
Frequently asked questions
What is a good interest rate on a car loan?
Rates track credit score closely. Buyers with scores above 780 typically see rates several points below the average, while subprime borrowers can pay double. Credit unions frequently beat dealer financing — get a pre-approval before you shop.
Should I take an 84-month loan?
Rarely. The payment looks affordable but you pay far more interest and stay underwater for most of the term. If a car only fits your budget at 84 months, it is the wrong car.
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Disclaimer. This calculator is provided for general information and educational purposes only and does not constitute financial, tax, legal, medical, or engineering advice. Results are estimates based on the inputs you provide and the assumptions described above. Confirm any figure with a qualified professional before acting on it.