Car Payment Calculator

Our calculator can help you plan your budget, so you can shop with confidence.

Keep in mind:

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Financial experts generally recommend capping auto payments and related expenses at 10%–15% of monthly income.
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You’ll also have car title and license fees, plus state and local sales taxes and any additional charges. Factoring these fees and taxes into your budget now may help you avoid any surprises at purchase time.

Estimate Monthly Payments

...
Only an estimate. Excludes taxes, title, license, and insurance.
Price

The total cost of the vehicle.

Down Payment

A down payment is an initial, upfront payment you make toward the total cost of the vehicle. Your down payment could be cash, the value of a trade-in, or both. The more you put down, the less you need to borrow. A larger down payment may also reduce your monthly payment and your total cost of financing.

Trade-in Value

The trade in value is the amount that a dealer is willing to offer you towards the purchase of a new vehicle in exchange for your current one. It’s typically based on the market value of your vehicle (the amount it would sell for on the open market).

Payoff Amount

Your payoff amount is how much you will actually have to pay to satisfy the terms of your mortgage loan and completely pay off your debt. Your payoff amount is different from your current balance.

Additional Down Payment

Additional down payment in cash.

Loan Term

This is the length of your auto loan, generally expressed in months. A shorter loan term (in which you make monthly payments for fewer months) will reduce your total loan cost. A longer loan can reduce your monthly payment, but you pay more interest over the life of the loan. A longer loan also puts you at risk for negative equity, which is when you owe more on the vehicle than the vehicle is worth.

Finance Rate (APR)

This is the annual percentage rate, and is not always the same as the interest rate. This represents the annual rate that is charged, and as such, is the actual annual cost to the consumer over the course of the auto loan. The APR will allow you to more easily shop and compare car loans, since it equates all loans to the same annual rate.

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Estimated Vehicle Price

...
Only an estimate. Excludes taxes, title, license, and insurance.
Monthly payment

The amount you can afford to pay monthly for the vehicle.

Down Payment

A down payment is an initial, upfront payment you make toward the total cost of the vehicle. Your down payment could be cash, the value of a trade-in, or both. The more you put down, the less you need to borrow. A larger down payment may also reduce your monthly payment and your total cost of financing.

Trade-in Value

The trade in value is the amount that a dealer is willing to offer you towards the purchase of a new vehicle in exchange for your current one. It’s typically based on the market value of your vehicle (the amount it would sell for on the open market).

Payoff Amount

Your payoff amount is how much you will actually have to pay to satisfy the terms of your mortgage loan and completely pay off your debt. Your payoff amount is different from your current balance.

Additional Down Payment

Additional down payment in cash.

Loan Term

This is the length of your auto loan, generally expressed in months. A shorter loan term (in which you make monthly payments for fewer months) will reduce your total loan cost. A longer loan can reduce your monthly payment, but you pay more interest over the life of the loan. A longer loan also puts you at risk for negative equity, which is when you owe more on the vehicle than the vehicle is worth.

Finance Rate (APR)

This is the annual percentage rate, and is not always the same as the interest rate. This represents the annual rate that is charged, and as such, is the actual annual cost to the consumer over the course of the auto loan. The APR will allow you to more easily shop and compare car loans, since it equates all loans to the same annual rate.

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FIND VEHICLES