Auto Loan Calculator

Start with the vehicle price, subtract your down payment and any positive trade-in equity, add sales tax on the taxable amount, and add any fees you choose to finance rather than pay in cash. If you owe more on your trade-in than it's worth (negative equity), that difference increases the amount financed instead of reducing it.

It depends on your state. Most states apply a trade-in tax credit, taxing only the price minus your trade-in's value, which lowers your tax bill. A handful of states tax the full purchase price regardless of a trade-in. Check your state's department of revenue or ask your dealer, then set the toggle to match.

Negative equity means you owe more on your current car loan than the car (your trade-in) is now worth. Rolling that difference into your next loan increases your new amount financed, so you're financing part of your old car along with your new one. The CFPB has found that buyers who roll in negative equity are more than twice as likely to have their new loan end in repossession within two years, so it's worth avoiding when you can — for example, by waiting until you have positive equity, or paying down the difference in cash.

It depends on the numbers, not just which one sounds better. A rebate lowers what you finance but keeps the regular (often higher) rate; a promotional APR keeps the full price financed but at a lower rate. Over a longer loan or a bigger rebate, the rebate often wins; over a short loan with a big rate gap, the low APR often wins. Use the comparison section with your actual numbers — it runs both scenarios and tells you which one costs less in total.

There's no fixed rule, but a larger down payment reduces your amount financed, your monthly payment, and your total interest, and it helps you avoid being underwater (owing more than the car is worth) as new cars depreciate quickly in the first year or two. Many advisors suggest at least 10–20% down on a new car if you can afford it.

Financing them adds a small amount to your loan and total interest, but keeps more cash in your pocket at signing. Paying them in cash costs a bit less overall since you're not financing them at your loan's interest rate, but requires more money upfront. Toggle the calculator to compare both.

Shorter terms (like 36 or 48 months) mean a higher payment but much less total interest and less risk of owing more than the car is worth. Longer terms (72 or 84 months) lower the payment but usually come with a higher rate, more total interest, and a longer stretch of negative equity risk. Try a few terms here to see the trade-off with your own numbers.

Differences usually come from a fee this calculator doesn't know about (like an add-on product or a documentary fee), a different amount financed than you entered, or the dealer using your actual approved rate rather than the one you typed in. Compare your final numbers against the Truth in Lending disclosure in your contract.

For the same rate, yes — a longer term means more months of interest on a slower-declining balance. But loan terms are often priced differently (a 72-month loan may carry a higher rate than a 60-month loan), so always compare the total interest and total cost this calculator shows, not just the monthly payment, before choosing a term.