Auto Loan Calculator
See your monthly car payment with sales tax, fees, your down payment and trade-in, and compare what 48, 60, 72 and 84-month loans really cost.
Monthly car payment by amount financed (7% APR)
| Financed | 48 mo | 60 mo | 72 mo |
|---|---|---|---|
| $20,000 | $478.92 | $396.02 | $340.98 |
| $30,000 | $718.39 | $594.04 | $511.47 |
| $40,000 | $957.85 | $792.05 | $681.96 |
| $50,000 | $1,197.31 | $990.06 | $852.45 |
Longer loans lower the monthly payment but cost more interest and leave you owing more than the car is worth for longer. A common guideline is the 20/4/10 rule: put 20% down, finance for no more than 4 years, and keep total car costs under 10% of gross income.
Deduct your car loan interest
For 2025 through 2028, interest on a loan for a new car assembled in the US can be deducted up to $10,000 a year, phasing out above $100,000 of income ($200,000 joint). Check yours with the car loan interest deduction calculator.
Frequently asked questions
What is a good APR for a car loan?
It depends mostly on your credit score and whether the car is new or used. Borrowers with top credit often see new-car rates several points below those with fair or poor credit, and used-car rates run higher. Compare a bank or credit union pre-approval with the dealer's offer.
Is sales tax included in a car loan?
Usually it can be rolled into the loan. In most states sales tax is charged on the price minus your trade-in value; a few states tax the full price. Uncheck the trade-in box above if yours does.
What happens if I owe more on my trade-in than it's worth?
The difference (negative equity) is added to your new loan. Enter the payoff amount in 'Amount owed on trade-in' to include it.
Should I take a 72- or 84-month loan?
Only if you need the lower payment. You'll pay noticeably more interest and are more likely to owe more than the car is worth if you sell or total it in the first few years.