# Auto Loan Calculator Calculate your car loan monthly payment factoring in vehicle price, down payment, trade-in value, sales tax, and registration fees. Shows amount financed, total interest, total cost, a descending balance curve, and a yearly amortization schedule. > Canonical page: https://elysiatools.com/en/tools/auto-loan-calculator - **Category:** Finance - **Keywords:** auto loan, car loan, vehicle financing, trade-in, sales tax, amortization, monthly payment, finance ## Overview The Auto Loan Calculator helps you estimate your monthly car payments by factoring in the vehicle price, down payment, trade-in value, sales tax, and registration fees. It provides a clear breakdown of the total amount financed, total interest paid, overall cost of ownership, and a detailed yearly amortization schedule to help you make informed vehicle financing decisions. ## Inputs - **Vehicle Price** (number): e.g. 35000 - **Down Payment** (number): e.g. 5000 - **Trade-In Value** (number): e.g. 8000 - **Sales Tax Rate (%)** (number): e.g. 7 - **Fees (registration, title)** (number): e.g. 500 - **Annual Interest Rate (%)** (number): e.g. 5.5 - **Loan Term (Months)** (select) - **Decimal Places** (number) ## When to use - When shopping for a new or used car and comparing different dealership financing offers. - When planning your monthly budget to determine how much vehicle price you can comfortably afford. - When evaluating the financial impact of trading in your current vehicle versus making a larger cash down payment. ## How it works - Enter the vehicle purchase price, down payment, and any trade-in value you plan to apply. - Input the annual interest rate (APR), select your preferred loan term in months, and add local sales tax and registration fees. - The calculator computes the total amount financed, monthly payment, total interest, and generates a yearly amortization schedule. ## Use cases - Comparing monthly payments across 36, 60, and 72-month loan terms to find the best balance of monthly cost and total interest. - Calculating the net savings of trading in an old vehicle versus selling it privately and making a cash down payment. - Estimating the total cost of a vehicle purchase including state sales tax and dealer registration fees before visiting the dealership. ## Frequently asked questions ### How does a trade-in value affect my auto loan calculation? It reduces the taxable base of the vehicle and lowers the total amount you need to finance, which decreases your monthly payment. ### What fees should I include in the calculation? Include registration fees, title fees, documentation fees, and any other dealer-specific charges. ### How is the sales tax calculated on the loan? The sales tax rate is applied to the vehicle price minus the trade-in value, and then added to the total amount financed. ### Can I choose different loan terms? Yes, you can select terms ranging from 24 months up to 84 months. ### What is the amortization schedule? It is a yearly breakdown showing how your payments are split between principal and interest, along with the remaining loan balance. ## Related tools - [APR Calculator](https://elysiatools.com/en/tools/apr-calculator): Calculate the true Annual Percentage Rate (APR) of a loan when upfront fees are involved. 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