Does the down payment reduce interest?

Yes — a larger down payment lowers the amount financed and therefore total interest.

Should I include sales tax?

Yes if it's rolled into the loan. If you pay tax upfront, exclude it from financed amount.

Shorter terms cost less in interest but have higher monthly payments.

Best rates typically require 700+, but auto loans are available to lower scores at higher rates.

Estimate your monthly car payment from vehicle price, down payment, trade-in, sales tax, rate, and term.

All math runs in your browser — nothing is uploadedReviewed & updated: January 1970Methodology

Vehicle price ($)Down payment ($)Trade-in value ($)Sales tax (%)APR (%)Term (months)

Monthly

$627.35

Amount financed$32,450.00

Total interest$5,190.96

Total paid$37,640.96

Financed = (price + tax) − down − trade-in. Payment = P · r / (1 − (1+r)^-n).

Example

$35,000 car, 7% tax, $5,000 down, 6% APR, 60 months → payment ≈ $637.

Does the down payment reduce interest?: Yes — a larger down payment lowers the amount financed and therefore total interest.
Should I include sales tax?: Yes if it's rolled into the loan. If you pay tax upfront, exclude it from financed amount.
Is a shorter term better?: Shorter terms cost less in interest but have higher monthly payments.
What credit score do I need?: Best rates typically require 700+, but auto loans are available to lower scores at higher rates.