By CalculatorInn Team · Updated: 2026-03-22 · Free & accurate · Instant results
Estimate your monthly auto loan payment and total cost of financing a vehicle including trade-in value and sales tax.
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Payment = Loan × r × (1+r)^n / ((1+r)^n − 1)
Loan amount equals vehicle price plus sales tax minus down payment. The monthly payment is calculated using standard amortization where r is the monthly interest rate and n is the number of months.
For new cars in 2026, excellent credit (750+) can get 4-5%, good credit (700-749) around 5-7%, and fair credit (650-699) around 7-12%. Used car rates are typically 1-2% higher.
72 months means lower monthly payments but significantly more interest. Your car may also depreciate faster than you pay it off, putting you underwater. 48-60 months is generally recommended.
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