Car Payment Calculator
Amortizing P&I on what you finance — not a dealer pencil. Click any i for detail.
Deal
Price ($)
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Vehicle price
Negotiated price before tax. |
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|---|---|
Down payment ($)
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Down
Cash down. |
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Trade-in ($)
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Trade
Net trade after payoff. Zero if none. |
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Sales tax (%)
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Tax
On (price − trade) in many states. 0 if tax is not financed. |
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APR (%)
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Rate
Loan APR, not the money-factor on a lease. |
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Term (months)
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Term
Common new-car terms are 36–72 months. |
How to use this calculator
- Enter price, down, and trade.
- Add a sales-tax percent if tax is rolled in.
- Set APR and months.
- Compare with how-much-car-can-I-afford if payment is the constraint.
Results explained
Amount financed = price + tax − down − trade. Payment uses standard amortizing P&I. Distinct from refinance and early-payoff pages.
Quick reference: auto terms
A longer term lowers the payment and raises total interest.
| Item | Detail |
|---|---|
| 36 months | Higher payment, less interest |
| 60 months | Common new-car default |
| 72–84 months | Lower payment, more interest |
| Lease | Use lease vs buy — not this P&I page |
Dealer fees, GAP, and warranties can be financed too — add them to price if needed.
How the estimate is built
PMT = rP / (1 − (1+r)^(−n)) with r = APR/12, P = amount financed.
Example scenario
$32k, $4k down, 6.5% tax, 6.5% APR, 60 months is a mid-$500s payment in this sketch.
FAQ
Out-the-door?
Add doc fees into price. This is not a full OTD worksheet.
Affordability vs payment?
How much car can I afford starts from budget. This starts from the deal.
Refi an existing auto loan?
Auto loan refinance calculator.