Auto Loan Calculator

Auto Price

— The vehicle's purchase price before any reductions. Use the dealer's advertised price or the out-the-door negotiated figure.

Loan Term

— Choose from 12 to 84 months. Longer terms reduce monthly payments but dramatically increase total interest paid and extend the period of negative equity.

Interest Rate

— Your Annual Percentage Rate (APR). This depends heavily on your credit score and whether you use dealer financing or a pre-approved bank/credit union offer.

Cash Incentives

— Manufacturer rebates or dealer cash that reduce the amount financed. Enter the full rebate amount and it is automatically deducted from the loan principal.

Down Payment

— Cash paid upfront at signing. A down payment of 20% or more is recommended to avoid starting the loan underwater.

Trade-In Value

— The market value of your current vehicle (use Kelley Blue Book or Carvana quotes). This is applied as a credit against the loan amount.

Amount Owed on Trade-In

— If you still owe money on your current vehicle, enter the payoff balance here. If this exceeds the trade-in value, the negative equity difference is added to your new loan.

Sales Tax

— Applied as a percentage of the vehicle price. Rates vary by state (0% in some states, up to 10%+ in others).

Title, Registration & Other Fees

— Covers documentation, title transfer, and state registration. Toggle "Include taxes and fees in loan" to roll these into the financed amount instead of paying them upfront.

GAP Insurance

— Guaranteed Asset Protection covers the gap between your loan balance and the car's actual cash value if the vehicle is totaled or stolen. Enter the monthly cost to see its impact on your total obligation.

How does my credit score affect my auto loan rate?

Super-prime (780+): 4–6%. Prime (660–779): 6–9%. Non-prime (620–659): 10–15%. Subprime (below 620): 16%+. Always check your credit report before applying and bring a pre-approval from your bank or credit union to compare against dealer financing.

Should I take dealer financing or my bank's?

Bring a pre-approval to the dealership and use it as leverage. Dealers can sometimes beat your bank's rate, but they may also mark up the "buy rate" they receive from the lender. Always ask for the buy rate and compare APRs — not just monthly payments.

What is GAP insurance and do I need it?

If your down payment is less than 20% of the vehicle's value, you are likely underwater immediately after purchase due to depreciation. GAP insurance covers the difference between your remaining loan balance and the car's actual cash value in the event of a total loss. Typical cost is $20–50/month. Enter it in the calculator to see the full monthly and total impact.

When should I roll taxes and fees into the loan?

Only when cash flow at signing is genuinely constrained. Rolling fees in costs more over the loan term because you pay interest on them. If you can pay upfront, it is always cheaper in total.