Car Loan Calculator

See your monthly payment, what a car really costs with tax and interest, and whether you'd owe more than it's worth.

Price of the car

Down payment

Trade-in value

Interest rate (APR)

Loan length

Length in months

Shorter loans usually cost less overall. Yours is longer than the 20/4/10 guideline's 4 years — see why that's worth a second look below.

New or used?

Used to estimate how fast the car loses value.

Your state

Used to guess your sales tax rate. You can change the guess in the advanced settings.

Advanced settings

Sales tax rate (%)

Pick your state above to guess this, or type your own rate.

Sales tax is charged on the price minus my trade-in (most states do this)Title, registration, and dealer fees

Extra you'll pay toward the loan each month

Costs beyond the loan

Used for the “10% of income” check below.

Car insurance (per month)

Gas and maintenance (per month)

Your yearly income (optional)

Your monthly payment

$554

for 5 years

What the car really costs you

The car$30,00080.5%
Sales tax4.99% (national average)$1,4974.0%
Title, registration & dealer fees$5001.3%
Interest$5,26514.1%

Total cost$37,262

You borrow

$27,997

93.3% of the price

Interest

$5,265

17.6% of the price

You'd never owe more than the car is worth, so you have equity from the start.

A term of 5 years is longer than the 20/4/10 guideline's 4 years. Loans past 4 years usually cost more interest overall and leave you owing more than the car is worth for longer, since cars lose value fastest in the first few years. Where you can, a shorter term (or a smaller loan) tends to work out better — see the full guideline below.

The 20/4/10 rule of thumb

Doesn't meet it: 20% down (including a trade-in): you have 13.3%
Doesn't meet it: Loan of 4 years or less: yours is 5 years
Not checked: Total car costs under 10% of your income: add your income in the advanced settings

What you owe vs. what the car is worth

Cars lose value quickly, especially in the first year. When the loan balance is above the car's value, you're “underwater.” Hover (or use the arrow keys) to explore.

What you oweWhat the car is worth (estimate)

See the numbers

When	What you owe	What the car is worth (estimate)
Buy	$27,997	$30,000
1 yr	$23,151	$24,000
2 yrs	$17,954	$20,400
3 yrs	$12,382	$17,340
4 yrs	$6,407	$14,739
5 yrs	$0	$12,528

Compare loan lengths

A longer loan lowers your payment, but you pay more interest.

LengthMonthlyInterestTotal cost

Total cost is your down payment and trade-in plus every payment. Terms marked “over 4 yrs” tend to cost more altogether — see why above.

An estimate, not a loan offer. Value estimates are a rough guide (a new car is often said to lose about 20% in its first year and about 15% a year after; a used car about 10% a year) — real values depend on the make, model, and mileage. Sales tax is a state-level guess (Georgia and South Carolina use a separate title tax folded in here as one rate) and doesn't include county or city tax, which many places add on top. Fees vary by dealer, and interest rates depend on your credit. Check the buyer's order and loan agreement for the real numbers.