Calculate the monthly payment on a car loan after down payment and trade-in credit.
Calculate the monthly payment on a car loan after down payment and trade-in credit.
Enter values above and click Calculate — results will appear here with the formula explained.
Car loans amortize just like mortgages but run much shorter — typically 36 to 72 months. What matters is the amount actually financed: the negotiated price minus your cash down payment and any trade-in credit. Reducing that number saves both payment and total interest.
Longer terms lower the monthly figure but raise total interest sharply because you're paying the rate for more years on a depreciating asset. Comparing total interest across terms is often eye-opening for cars specifically.
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Car loans amortize just like mortgages but run much shorter — typically 36 to 72 months. What matters is the amount actually financed: the negotiated price minus your cash down payment and any trade-in credit. Reducing that number saves both payment and total interest. Formula: financed = price − down payment − trade-in; M = F·r(1+r)ⁿ/((1+r)ⁿ−1)
Auto Loan Calculator computes calculate the monthly payment on a car loan after down payment and trade-in credit. Formula: financed = price − down payment − trade-in. Example: A $30,000 car with $3,000 down and a $5,000 trade-in finances $22,000.
Calculate the monthly payment on a car loan after down payment and trade-in credit. Formula: financed = price − down payment − trade-in; M = F·r(1+r)ⁿ/((1+r)ⁿ−1)
| Field | What to enter |
|---|---|
| Vehicle price ($) | e.g. 30000 |
| Down payment ($) | e.g. 3000 |
| Trade-in value (optional) ($) | e.g. 5000 |
| APR (%) | e.g. 6.9 |
| Term (months) | 60 |
All fields use the exact formulas shown below — results include step-by-step breakdowns you can verify by hand.
Car loans amortize just like mortgages but run much shorter — typically 36 to 72 months. What matters is the amount actually financed: the negotiated price minus your cash down payment and any trade-in credit. Reducing that number saves both payment and total interest.
Longer terms lower the monthly figure but raise total interest sharply because you're paying the rate for more years on a depreciating asset. Comparing total interest across terms is often eye-opening for cars specifically.
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A $30,000 car with $3,000 down and a $5,000 trade-in finances $22,000. At 6.9% APR for 60 months the payment is about $434.33 and total interest is roughly $4,059.68.
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