Same loan math
The same monthly fixed-rate formula is used for United States and Canada estimates.
Calculator
Auto Loan / Car Payment Calculator
Estimate monthly vehicle loan payments, total interest, trade-in equity, user-entered taxes, and fees for United States or Canadian vehicle financing. This is not a lender quote or approval decision.
Trust and methodology
How this calculator is reviewed
- Calculation type
- Fixed-rate auto-loan payment and amortization estimate
- Jurisdiction
- United States and Canada
- Calculation rules
- auto-loan-v1
- Engine version
- Auto Loan Engine V1
- Last reviewed
- 2026-07-27
This is an informational fixed-rate monthly payment estimate, not a lender quote, approval decision, or legal, tax, or financial advice.
Primary sources
- Auto loans key termsConsumer Financial Protection Bureau - United StatesSupports consumer definitions for APR, interest rate, principal, down payment, amortization, term, and negative equity.
- Financing or Leasing a CarFederal Trade Commission - United StatesSupports total-cost, taxes, fees, add-ons, and financing disclosure context.
- Financing a carFinancial Consumer Agency of Canada - CanadaSupports Canadian consumer auto-financing context and lender-result caution.
Known limitations
- Automatic state, province, territory, or local sales-tax lookup is not included.
- Lease calculations, balloon payments, variable rates, prepayment penalties, and promotional financing are outside V1.
- Weekly, biweekly, and accelerated payment schedules are not supported in this version.
- The calculator does not calculate a regulatory APR from lender fees.
- Actual lender rates, fees, approval, due dates, and rounding practices may differ.
Found a calculation issue, outdated source, accessibility problem, or unclear assumption? Contact us.
Enter vehicle financing details
Start with vehicle price, down payment, trade-in, term, and annual rate. Taxes and fees are optional because local treatment varies.
Methodology
How the Auto Loan Calculator Works
This calculator estimates a fixed-rate installment loan. It uses the entered annual interest rate as a monthly-rate estimate, spreads the amount financed over the selected number of months, and produces a deterministic amortization schedule.
At a high level, the monthly rate is the entered annual rate divided into monthly periods. If the rate is 0%, the amount financed is divided evenly across the term.
Amount financed
Vehicle price is reduced by cash down payment, positive trade-in equity, and rebate. Negative trade-in equity, financed taxes, and financed fees increase the loan balance.
Monthly interest and principal are rounded to cents in the schedule, and the final payment is adjusted to clear the remaining balance exactly.
United States and Canada Scope
No mortgage compounding
Canadian auto-loan estimates do not use Canadian mortgage-style semiannual compounding.
User-entered taxes and fees
Taxes and fees are entered by the user. Local treatment varies and is not looked up automatically.
Trade-Ins, Negative Equity, Taxes, and Fees
Trade-in equity is the trade-in value minus the amount still owed on that vehicle. Positive equity reduces the loan. Negative equity increases the new loan and is shown separately as rolled-in debt.
Tax modes let you estimate tax on vehicle price, price after trade-in credit, price after rebate, or a custom taxable amount. These options are user-controlled because local rules differ.
Worked Example
Example: $30,000 vehicle price, $30,000 amount financed, 6.5% annual rate, and a 60-month term.
- Estimated regular monthly payment
- $586.98
- Final payment
- $587.29
- Total interest
- $5,219.11
- Total loan payments
- $35,219.11
The final payment differs slightly because monthly amounts are rounded to cents and the last payment is adjusted to clear the balance.
Auto Loan Calculator FAQ
How is the monthly car payment calculated?
The calculator uses fixed-rate installment-loan math. It divides the entered annual rate into monthly periods, amortizes the amount financed over the selected term, and adjusts the final payment to clear any cent-level rounding difference.
Does this calculator include sales tax?
Only if you enter it. Sales-tax treatment varies by state, province, and territory, so this calculator lets you choose a tax mode and rate instead of applying automatic local tax rules.
How does a trade-in affect the loan?
Positive trade-in equity reduces the amount financed. If the trade-in loan balance is higher than the trade-in value, the negative equity is rolled into the new loan estimate.
What happens if I owe more than my trade-in is worth?
The difference is shown as negative equity rolled into the loan. This increases the estimated amount financed and can increase total interest.
Does the calculator support Canada?
Yes, as a Canadian dollar estimate using the same fixed-rate monthly auto-loan convention. It does not apply provincial or territorial tax rules automatically.
Is the result the same as a lender quote?
No. This is an estimate based on the information entered. A lender may use different fees, approval conditions, due dates, rate terms, and rounding practices.
Why can the final payment be different?
The regular payment and each schedule row are rounded to cents. The final payment is adjusted slightly so the remaining balance ends at exactly $0.00.
Does this calculate APR?
No. The rate field is the annual interest rate used for the payment estimate. The calculator does not calculate a regulatory APR from lender fees.
Are weekly or biweekly payments supported?
No. This version supports monthly payments only. Other payment schedules need separate methodology before they can be added.
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This calculator provides estimates for informational purposes only. It is not a lender quote, approval decision, tax advice, legal advice, or financial advice. Actual rates, taxes, fees, approval terms, due dates, and rounding practices may differ. Read the full disclaimer.