Auto Loan Calculator

Buying a Car? Do the Math First.

The average new car payment has skyrocketed. Use this tool to see the real cost of your vehicle, not just the sticker price.

📝 Key Inputs

* Vehicle Price: The negotiated price of the car (before tax). * Trade-In: The value of your old car. This acts like a down payment. * Sales Tax: Don't forget this! It can add $2,000-$3,000 to your loan. * Term: * 36-48 Months: Recommended. Higher payment, but you build equity fast. * 60-72 Months: Standard. * 84+ Months**: **Avoid. You will likely be "underwater" (owe more than the car is worth) for years.

The 20/4/10 Rule

Financial experts recommend: 1. 20% Down Payment (to cover immediate depreciation). 2. 4 Years Max loan term (to avoid negative equity). 3. 10% Max of your monthly income for transportation costs (loan + insurance + gas).

Frequently Asked Questions

Q: What is a "good" interest rate? A: Auto rates are higher than mortgages. New cars often have sponsored rates (0-3%), while used cars are typically 6-12%+.

Q: Should I take the rebate or 0% APR? A: If you have the cash, the rebate is usually better mathematically. If you are financing everything, 0% APR wins. Run the numbers both ways.