Car loan calculator: monthly payment, down payment, trade-in

Find out what a car will really cost each month. Enter the price, your down payment and trade-in, sales tax and fees, then compare loan terms to see how the payment and the total interest change.

Questions

Is a longer loan better?

A longer term lowers the monthly payment but you pay more interest in total. Compare 4, 5 and 6 years to see the difference.

How is sales tax applied?

On the price minus your trade-in, as in most US states. If your country taxes the full price, set the trade-in to zero and lower the price instead.

Can I use it for a motorbike or boat?

Yes. Any loan with a fixed rate and fixed monthly payments works the same way.