Auto Loan Calculator
Updated on 20 Oct 2026 · Checked by Aotob
You pay about $655 a month for 5 years.
That is for a $35,000 car with $5,000 down at 7%, including 6% sales tax and $1,000 in fees. In total you pay $44,325, $9,325 more than the sticker price.
Monthly payment
$655.42/month for 60 months
A 48-month loan costs $137 more a month but saves $1,279 in interest.
Show the working
Loan = 35,000 − 0 trade-in − 5,000 down + 2,100.00 tax + 1,000 fees = 33,100.00
r = 7% ÷ 12 = 0.005833 n = 60
M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1) = 655.42
Payment by loan length
| Term | Monthly | Interest | Total cost |
|---|---|---|---|
| 36 months | 1,022.03 | 3,693 | 41,793 |
| 48 months | 792.62 | 4,946 | 43,046 |
| 60 months | 655.42 | 6,225 | 44,325 |
| 72 months | 564.32 | 7,531 | 45,631 |
| 84 months | 499.57 | 8,864 | 46,964 |
Questions people ask
Is sales tax charged before or after my trade-in?
In most states sales tax is charged on the price after your trade-in, which this calculator assumes. A few states, including California, tax the full price. Set the trade-in to 0 and lower the price yourself to check.
Is a longer loan worth the lower payment?
On the default example, 84 months instead of 60 lowers the payment by $156 a month but adds $2,639 in interest.
Updated 20 Oct 2026Source: standard amortization (CFPB auto loan guide)Checked by AotobAn estimate, not financial adviceReport an issue