Auto Loan Calculator
Estimate your monthly car loan payment from price, down payment, trade-in, and interest rate.
Enter your values to calculate your result.
Formula
Amount Financed = Vehicle Price − Down Payment − Trade-In Value Monthly Payment = standard loan amortization on the Amount Financed
The down payment and trade-in value both reduce the amount actually borrowed before the loan's monthly payment is calculated using the standard fixed-rate amortization formula — the same math behind the Loan Calculator, applied to an auto-specific set of inputs.
Example
A $32,000 vehicle with a $4,000 down payment, no trade-in, a 6.5% APR, and a 5-year term finances $28,000, giving a monthly payment of about $548.
Frequently Asked Questions
Does a trade-in work the same as a down payment?
For this calculation, yes — both reduce the amount you need to finance before interest is calculated. In practice, a dealer may structure the paperwork differently, but the effect on your loan amount is the same.