Car Payment

Turn a vehicle price into a monthly payment.

Your numbers

Enter your numbers to see the result.

How Car Payment works

Amount financed = price plus entered tax and fees minus down payment and trade-in. Monthly payment uses the fixed-rate amortization formula P × r ÷ (1 − (1 + r) raised to −n), where r is APR divided by 1,200 and n is months. At zero APR, divide principal by months.

A worked example

These sample values illustrate the calculation. Use your own numbers in the calculator for your result.

Example inputs

Vehicle price ($): 25000
Down payment ($): 3000
Trade-in credit ($): 0
Sales tax (%): 6.25
Fees ($): 500
APR (%): 6.5
Loan term (months): 60

Monthly payment: $470.81
Amount financed: $24,062.50
Total interest: $4,186.13
Total loan payments: $28,248.63

Assumptions and limits

Tax is applied to the full vehicle price. Trade-in tax credits, lender rounding and fees vary. Total loan payments exclude down payment and trade-in.

Check lender terms and manufacturer guidance. These estimates do not replace a mechanical inspection.

Why can a lender quote a different payment?

The model uses fixed monthly payments and the APR, fees and tax you enter. Lender rounding, payment dates, trade-in tax credits and additional charges can change a quote.