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// myloanmath
Auto Loan Calculator
Find your monthly car payment, including trade-in value and sales tax.
Monthly payment
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Uses the same standard amortization formula as our general loan calculator. Sales tax, if entered, is added to the amount financed — most buyers roll vehicle tax into the loan rather than paying it separately. Trade-in value reduces the amount financed directly.
How this auto loan calculator works
The amount you actually finance isn't the sticker price — it's the vehicle price, minus your down payment, minus your trade-in value, plus sales tax if you're rolling it into the loan rather than paying it upfront. That final number is what actually gets run through the standard amortization formula to produce your monthly payment, the same formula banks and dealerships use.
Trade-in value matters more than people expect: a $5,000 trade-in doesn't just reduce your payment by a small amount, it directly reduces the loan principal dollar for dollar, which compounds into meaningfully less total interest paid over the life of the loan too.
Loan term is the other major lever. A 72 or 84-month term lowers your monthly payment, which can make a more expensive car feel affordable — but it also means paying interest for years longer, and for the first stretch of a long loan, you can genuinely owe more than the car is worth as it depreciates faster than you're paying down the balance. A shorter term costs more per month but meaningfully less in total interest, and gets you to positive equity faster.
Frequently asked questions
Does this include sales tax on the vehicle?
Yes, if you enter a sales tax rate — it's added to the amount financed, since most buyers roll vehicle sales tax into the loan rather than paying it separately upfront.
How does trade-in value affect my payment?
Your trade-in value is subtracted from the vehicle price before the loan amount is calculated, directly reducing how much you finance and therefore your monthly payment and total interest.
What loan term should I use?
Auto loans commonly run 36 to 84 months. Shorter terms mean higher monthly payments but less total interest paid; longer terms lower the payment but increase total interest and the risk of owing more than the car is worth.