Car finance is usually negotiated on the monthly payment, which is exactly the number a dealer can bend: stretch the term, and the payment falls while the total cost rises. This calculator shows both sides at once — payment and total interest — including sales tax and the fees that get quietly rolled into the loan.
Monthly car payment
$589.52
$29,420 financed over 60 months at 7.5%, with $5,950.99 of interest.
Interest is charged on the whole financed amount, tax and fees included.
| Year | Payments | Interest | Principal | Balance |
|---|---|---|---|---|
| Year 1 | $7,074 | $2,036 | $5,039 | $24,381 |
| Year 2 | $7,074 | $1,644 | $5,430 | $18,952 |
| Year 3 | $7,074 | $1,223 | $5,851 | $13,100 |
| Year 4 | $7,074 | $769 | $6,305 | $6,795 |
| Year 5 | $7,074 | $279 | $6,795 | $0 |
| Year | Payments | Interest | Principal | Balance | |
|---|---|---|---|---|---|
| 1 | Sep 2026 | $589.52 | $183.87 | $405.64 | $29,014.36 |
| 2 | Oct 2026 | $589.52 | $181.34 | $408.18 | $28,606.18 |
| 3 | Nov 2026 | $589.52 | $178.79 | $410.73 | $28,195.45 |
| 4 | Dec 2026 | $589.52 | $176.22 | $413.29 | $27,782.16 |
| 5 | Jan 2027 | $589.52 | $173.64 | $415.88 | $27,366.28 |
| 6 | Feb 2027 | $589.52 | $171.04 | $418.48 | $26,947.80 |
| 7 | Mar 2027 | $589.52 | $168.42 | $421.09 | $26,526.71 |
| 8 | Apr 2027 | $589.52 | $165.79 | $423.72 | $26,102.99 |
| 9 | May 2027 | $589.52 | $163.14 | $426.37 | $25,676.61 |
| 10 | Jun 2027 | $589.52 | $160.48 | $429.04 | $25,247.58 |
| 11 | Jul 2027 | $589.52 | $157.80 | $431.72 | $24,815.86 |
| 12 | Aug 2027 | $589.52 | $155.10 | $434.42 | $24,381.44 |
| 13 | Sep 2027 | $589.52 | $152.38 | $437.13 | $23,944.31 |
| 14 | Oct 2027 | $589.52 | $149.65 | $439.86 | $23,504.44 |
| 15 | Nov 2027 | $589.52 | $146.90 | $442.61 | $23,061.83 |
| 16 | Dec 2027 | $589.52 | $144.14 | $445.38 | $22,616.45 |
| 17 | Jan 2028 | $589.52 | $141.35 | $448.16 | $22,168.29 |
| 18 | Feb 2028 | $589.52 | $138.55 | $450.96 | $21,717.32 |
| 19 | Mar 2028 | $589.52 | $135.73 | $453.78 | $21,263.54 |
| 20 | Apr 2028 | $589.52 | $132.90 | $456.62 | $20,806.92 |
| 21 | May 2028 | $589.52 | $130.04 | $459.47 | $20,347.45 |
| 22 | Jun 2028 | $589.52 | $127.17 | $462.34 | $19,885.10 |
| 23 | Jul 2028 | $589.52 | $124.28 | $465.23 | $19,419.87 |
| 24 | Aug 2028 | $589.52 | $121.37 | $468.14 | $18,951.72 |
| 25 | Sep 2028 | $589.52 | $118.45 | $471.07 | $18,480.66 |
| 26 | Oct 2028 | $589.52 | $115.50 | $474.01 | $18,006.64 |
| 27 | Nov 2028 | $589.52 | $112.54 | $476.97 | $17,529.67 |
| 28 | Dec 2028 | $589.52 | $109.56 | $479.96 | $17,049.71 |
| 29 | Jan 2029 | $589.52 | $106.56 | $482.96 | $16,566.76 |
| 30 | Feb 2029 | $589.52 | $103.54 | $485.97 | $16,080.78 |
| 31 | Mar 2029 | $589.52 | $100.50 | $489.01 | $15,591.77 |
| 32 | Apr 2029 | $589.52 | $97.45 | $492.07 | $15,099.70 |
| 33 | May 2029 | $589.52 | $94.37 | $495.14 | $14,604.56 |
| 34 | Jun 2029 | $589.52 | $91.28 | $498.24 | $14,106.32 |
| 35 | Jul 2029 | $589.52 | $88.16 | $501.35 | $13,604.97 |
| 36 | Aug 2029 | $589.52 | $85.03 | $504.49 | $13,100.48 |
| 37 | Sep 2029 | $589.52 | $81.88 | $507.64 | $12,592.85 |
| 38 | Oct 2029 | $589.52 | $78.71 | $510.81 | $12,082.03 |
| 39 | Nov 2029 | $589.52 | $75.51 | $514.00 | $11,568.03 |
| 40 | Dec 2029 | $589.52 | $72.30 | $517.22 | $11,050.81 |
| 41 | Jan 2030 | $589.52 | $69.07 | $520.45 | $10,530.37 |
| 42 | Feb 2030 | $589.52 | $65.81 | $523.70 | $10,006.66 |
| 43 | Mar 2030 | $589.52 | $62.54 | $526.97 | $9,479.69 |
| 44 | Apr 2030 | $589.52 | $59.25 | $530.27 | $8,949.42 |
| 45 | May 2030 | $589.52 | $55.93 | $533.58 | $8,415.84 |
| 46 | Jun 2030 | $589.52 | $52.60 | $536.92 | $7,878.92 |
| 47 | Jul 2030 | $589.52 | $49.24 | $540.27 | $7,338.65 |
| 48 | Aug 2030 | $589.52 | $45.87 | $543.65 | $6,795.00 |
| 49 | Sep 2030 | $589.52 | $42.47 | $547.05 | $6,247.95 |
| 50 | Oct 2030 | $589.52 | $39.05 | $550.47 | $5,697.48 |
| 51 | Nov 2030 | $589.52 | $35.61 | $553.91 | $5,143.58 |
| 52 | Dec 2030 | $589.52 | $32.15 | $557.37 | $4,586.21 |
| 53 | Jan 2031 | $589.52 | $28.66 | $560.85 | $4,025.35 |
| 54 | Feb 2031 | $589.52 | $25.16 | $564.36 | $3,461.00 |
| 55 | Mar 2031 | $589.52 | $21.63 | $567.89 | $2,893.11 |
| 56 | Apr 2031 | $589.52 | $18.08 | $571.43 | $2,321.68 |
| 57 | May 2031 | $589.52 | $14.51 | $575.01 | $1,746.67 |
| 58 | Jun 2031 | $589.52 | $10.92 | $578.60 | $1,168.07 |
| 59 | Jul 2031 | $589.52 | $7.30 | $582.22 | $585.85 |
| 60 | Aug 2031 | $589.52 | $3.66 | $585.85 | $0.00 |
The monthly view lists every payment; export the CSV to keep a copy of the schedule.
Trade-in value is applied before tax, because most states charge sales tax on the price difference. That single detail is often worth several hundred dollars, and it is easy to leave on the table when the deal is discussed as a monthly figure.
Amount financed = vehicle price − cash down payment − trade-in value + sales tax + fees.
Interest is then charged on that whole amount, so financed fees and taxes cost more than their face value. A $500 documentation fee financed over 72 months at 7.5% costs about $615 by the time the loan ends.
The payment formula spreads the balance over more months, so a longer term reduces the payment and increases the interest. On a $30,000 loan at 7.5%, moving from 48 to 72 months cuts the payment by roughly $110 but adds about $1,600 of interest.
Longer terms also keep you underwater on the car for longer, because depreciation outpaces the loan balance for the first few years.
Sales tax treatment varies: some states charge tax on the full price, others credit the trade-in, and a few charge a separate vehicle tax. Dealer documentation fees, title, registration and any extended warranty get financed unless you pay them at signing. Adjust both fields to match your state and your paperwork.
Each example below was run through the calculator on this page when the site was built, so the numbers match what you see when you enter the same inputs.
Monthly car payment
$589.52
$29,420 financed over 60 months at 7.5%, with $5,950.99 of interest.
The trade-in reduces the taxable amount, which saves several hundred dollars of sales tax.
Monthly car payment
$522.14
$16,300 financed over 36 months at 9.5%, with $2,496.93 of interest.
Used-car rates are higher, but the short term keeps interest low in absolute terms.
Monthly car payment
$558.87
$35,290 financed over 84 months at 8.5%, with $11,655.04 of interest.
A seven-year term produces a comfortable payment and a much larger interest bill.
A common guideline is to keep all vehicle costs — payment, insurance, fuel and maintenance — under 15% to 20% of take-home pay. Lenders look at total debt-to-income, so a large car payment can reduce what you are approved to borrow for a house.
Compare the APR, not the payment. Dealer promotional rates are sometimes subsidised and hard to beat; standard dealer rates often are not. A pre-approved bank or credit union loan also gives you negotiating power, because you become a cash buyer in the paperwork.
In most US states, yes: tax is charged on the price difference after the trade-in. A few states charge tax on the full purchase price, so confirm your state rule before assuming a saving.
Only if the payment is otherwise unaffordable. A longer term raises total interest, extends the period in which you owe more than the car is worth, and makes it harder to change vehicles early without negative equity.
Simple-interest auto loans generally allow early payoff with no penalty, and you save the remaining unearned interest. Some contracts include a prepayment penalty, so read the financing agreement before signing.
A 10% to 20% down payment keeps the loan closer to the car value and reduces the risk of negative equity, while leaving cash for emergencies. Financing 100% of a new car often means owing more than it is worth within a year.
Last reviewed 2026-09-13. This page is an estimate tool, not financial, tax or legal advice.Read the full disclaimer.