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Auto Loan Calculator

Your monthly car payment with sales tax, fees, down payment and trade-in, and what the loan costs in interest, with a full payment schedule.

Financing $32,900 for a $35,000 car ($2,100 of sales tax included) at 7% over 60 months costs $651.46 a month and $6,188 in interest.

Monthly payment
$651.46
Amount financed
$32,900
Total interest
$6,188
Total cost of the car
$44,088
Download the schedule (CSV)
Payment schedule: $32,900 at 7% over 60 months
MonthPaymentInterestPrincipalBalance
1$651.46$191.92$459.54$32,440.46
2$651.46$189.24$462.22$31,978.23
3$651.46$186.54$464.92$31,513.31
4$651.46$183.83$467.63$31,045.68
5$651.46$181.10$470.36$30,575.32
6$651.46$178.36$473.10$30,102.22
7$651.46$175.60$475.86$29,626.36
8$651.46$172.82$478.64$29,147.72
9$651.46$170.03$481.43$28,666.29
10$651.46$167.22$484.24$28,182.05
11$651.46$164.40$487.06$27,694.98
12$651.46$161.55$489.91$27,205.08
13$651.46$158.70$492.76$26,712.31
14$651.46$155.82$495.64$26,216.68
15$651.46$152.93$498.53$25,718.15
16$651.46$150.02$501.44$25,216.71
17$651.46$147.10$504.36$24,712.35
18$651.46$144.16$507.30$24,205.04
19$651.46$141.20$510.26$23,694.78
20$651.46$138.22$513.24$23,181.54
21$651.46$135.23$516.23$22,665.31
22$651.46$132.21$519.25$22,146.06
23$651.46$129.19$522.27$21,623.79
24$651.46$126.14$525.32$21,098.47
25$651.46$123.07$528.39$20,570.08
26$651.46$119.99$531.47$20,038.62
27$651.46$116.89$534.57$19,504.05
28$651.46$113.77$537.69$18,966.36
29$651.46$110.64$540.82$18,425.54
30$651.46$107.48$543.98$17,881.56
31$651.46$104.31$547.15$17,334.41
32$651.46$101.12$550.34$16,784.07
33$651.46$97.91$553.55$16,230.52
34$651.46$94.68$556.78$15,673.74
35$651.46$91.43$560.03$15,113.71
36$651.46$88.16$563.30$14,550.41
37$651.46$84.88$566.58$13,983.83
38$651.46$81.57$569.89$13,413.94
39$651.46$78.25$573.21$12,840.73
40$651.46$74.90$576.56$12,264.18
41$651.46$71.54$579.92$11,684.26
42$651.46$68.16$583.30$11,100.96
43$651.46$64.76$586.70$10,514.25
44$651.46$61.33$590.13$9,924.13
45$651.46$57.89$593.57$9,330.56
46$651.46$54.43$597.03$8,733.53
47$651.46$50.95$600.51$8,133.01
48$651.46$47.44$604.02$7,528.99
49$651.46$43.92$607.54$6,921.45
50$651.46$40.38$611.08$6,310.37
51$651.46$36.81$614.65$5,695.72
52$651.46$33.23$618.23$5,077.49
53$651.46$29.62$621.84$4,455.65
54$651.46$25.99$625.47$3,830.18
55$651.46$22.34$629.12$3,201.06
56$651.46$18.67$632.79$2,568.27
57$651.46$14.98$636.48$1,931.80
58$651.46$11.27$640.19$1,291.61
59$651.46$7.53$643.93$647.68
60$651.46$3.78$647.68$0.00

Monthly payment on the amount financed, by term and rate

Financed36 months at 6%60 months at 7%72 months at 8%
$15,000$456.33$297.02$263.00
$25,000$760.55$495.03$438.33
$35,000$1,064.77$693.04$613.66
$45,000$1,368.99$891.05$789.00

Total interest on $30,000 financed, by term (7%)

TermMonthly paymentTotal interest
36 months$926.31$3,347
48 months$718.39$4,483
60 months$594.04$5,642
72 months$511.47$6,826
84 months$452.78$8,034

How this calculator works

Amount financed = price + sales tax + fees − down payment − trade-in. Most states tax the price less the trade-in; a few tax the full price. The payment uses the standard loan formula.

What it assumes

  • A simple-interest loan with equal payments.
  • Optional add-ons (extended warranties, GAP insurance) raise the amount financed if rolled into the loan.
  • Negative equity on a trade-in (owing more than it's worth) adds to the loan: enter the trade-in net of what you owe.

Questions people ask

What is the payment on a $35,000 car?

With $5,000 down, 6% sales tax and $800 of fees at 7% over 60 months: about $651.46 a month.

Is a 72- or 84-month car loan a good idea?

It lowers the payment but costs more interest, usually at a higher rate, and you can owe more than the car is worth for years. Shorter is cheaper if the payment fits.

Does a trade-in lower sales tax?

In most states, yes: tax applies to the price minus the trade-in value. A few states tax the full price.

Is car loan interest tax deductible?

For 2025 through 2028, up to $10,000 a year on a new, US-assembled car for personal use, bought with a loan taken out after 2024, subject to an income phase-out. The car loan interest deduction calculator works it out.

Related calculators

  • Car Affordability CalculatorThe car price your income supports, keeping the payment to a set share of your pay, following the 20/4/10 guideline: 20% down, four years, 10% of income.
  • Lease vs Buy CalculatorWhether leasing or buying a car costs less over the lease term, counting what you pay and the value of the car you own at the end if you buy.
  • Car Loan Interest Deduction CalculatorHow much of the interest on a new car loan you can deduct for 2025 to 2028, up to $10,000 a year, after the income phase-out, and the tax it saves.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.

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