Does this include taxes, title, and dealer fees?

No. This calculator uses the loan principal you enter. In practice, sales tax, registration, title, and dealer documentation fees can add $1,000–$3,000+ to the amount financed. Add those to your vehicle price before calculating to see the full payment.

Is it better to put more money down?

Generally yes: a larger down payment reduces the loan amount, which lowers both the monthly payment and total interest. It also reduces the risk of being "underwater" (owing more than the car is worth) early in the loan, since new cars depreciate quickly in the first few years.

Loans

Car Loan Calculator

An auto loan calculator helps you understand the true cost of financing a vehicle before you walk into a dealership. Enter the vehicle price, your down payment, the loan term, and the interest rate to see your monthly payment and total interest.

Car Loan

Total of all payments

Total interest paid

How it works

Formula & methodology

Auto loans use the standard amortizing loan formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount (price minus down payment and trade-in), r is the monthly interest rate (APR ÷ 12), and n is the number of monthly payments. The formula is identical to a personal loan; what differs is how lenders determine your rate (based heavily on credit score and loan-to-value ratio).

Source: CFPB: Auto loans

Example

Worked example

Example: a $28,000 vehicle with a $4,000 down payment leaves a $24,000 loan. At 6.9% APR over 60 months (5 years), the monthly payment is about $473.89 and total interest paid is roughly $4,433.

FAQ

Frequently asked questions

Does this include taxes, title, and dealer fees?: No. This calculator uses the loan principal you enter. In practice, sales tax, registration, title, and dealer documentation fees can add $1,000–$3,000+ to the amount financed. Add those to your vehicle price before calculating to see the full payment.
Is it better to put more money down?: Generally yes: a larger down payment reduces the loan amount, which lowers both the monthly payment and total interest. It also reduces the risk of being "underwater" (owing more than the car is worth) early in the loan, since new cars depreciate quickly in the first few years.

Tips

Practical tips

Get pre-approved financing from your bank or credit union before visiting the dealership — it gives you a real rate to compare against (or negotiate down) the dealer's financing offer.
Avoid stretching the loan term past 60 months just to lower the payment — longer terms usually mean paying significantly more in total interest and a higher risk of owing more than the car is worth.
Add estimated sales tax, registration, and dealer fees to the vehicle price before running the numbers here — they're usually rolled into the loan and increase your real monthly payment.

Results are estimates for general informational purposes only and do not constitute financial, tax, or legal advice. Always confirm important figures with a qualified professional or your lender before making a financial decision.