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Work out your monthly car payment after a down payment and trade-in.
How the calculation works
The loan amount is the vehicle price minus your down payment and trade-in value. The payment is then calculated like any fixed-rate loan over the number of months you choose.
Formula used
Loan = Price − Down payment − Trade-in; Payment = Loan × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
Example
A $25,000 car with $3,000 down, no trade-in, 6% interest and 60 months leaves a $22,000 loan and a payment of $425.32 per month.
Frequently asked questions
Is sales tax included?
No. Add sales tax to the vehicle price first, or use our sales tax calculator.
What term should I choose?
Shorter terms cost less interest overall; longer terms lower the monthly payment.
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Results are estimates for general information only and are not professional financial, medical or legal advice.