Auto Loan Calculator
Calculate monthly car payments including down payment, trade-in value, and interest rate.
Auto Loan Results
How to Use the Auto Loan Calculator
Enter the vehicle price, your down payment, trade-in value, interest rate, and loan term to see your monthly car payment.
Formula
Amount financed = Price − Down − Trade-In
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]Frequently Asked Questions
What is a good interest rate for an auto loan?
As of 2024, good credit (720+) typically qualifies for rates of 5–7% on new cars. Used cars and lower credit scores carry higher rates.
Should I finance or pay cash for a car?
If the loan rate is lower than what your money earns invested, financing may make sense. Otherwise, paying cash avoids interest costs.
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