Auto Loan Calculator
Use the Auto Loan Calculator when you want to see how the figures change under a particular set of assumptions. Enter the values you know, review the result and compare a second scenario if you are weighing an option.
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How it works
The amount financed is the price minus your down payment and trade-in, plus sales tax and fees. Sales tax is usually charged on the price after the trade-in is deducted. The monthly payment then comes from the standard loan formula Payment = P × [ r(1 + r)n ] ÷ [ (1 + r)n − 1 ], where r is the monthly rate and n is the number of months.
How to use the Auto Loan Calculator
Enter the values requested by the tool and start with one realistic example. Read the result together with its unit or label, then change one input at a time if you want to compare options. Keeping a note of the original figures makes the calculation easier to check later.
Use the result as a planning estimate rather than a quote or guarantee. Rates, fees, tax rules and personal circumstances can change the final figure.