How to Use the Car Loan Calculator
Enter the vehicle price, down payment, any trade-in value (or negative equity), the interest rate, and the loan term — the calculator computes the financed amount and shows the monthly payment along with total interest paid over the loan.
The Car Loan Calculator accounts for a down payment and trade-in, not just the vehicle price — here's what to enter for an accurate estimate.
Entering price, down payment, and trade-in
The financed amount is the vehicle price minus any down payment and positive trade-in value (or plus any negative trade-in equity) — entering all three accurately gives a financed amount that matches what a real loan would actually be based on.
Adding sales tax and fees for a fully accurate estimate
For the closest match to a real dealer quote, adding an estimated sales tax and fee amount to the vehicle price before entering it accounts for the add-on costs that a basic price-only estimate leaves out.