How is a monthly auto loan payment calculated?

Monthly Payment = `[P x r x (1+r)^n] / [(1+r)^n - 1]`, where P is `Vehicle Price - Down Payment - Trade-in Value` plus sales tax.

Is buying a car better than leasing?

Buying builds vehicle equity and allows unlimited mileage, while leasing offers lower monthly payments and newer cars every 3 years.

A higher down payment reduces total loan principal, lowering monthly payments and saving significantly on total interest.

Yes, you can enter state/local sales tax percentages to compute total loan financing.

100% Client-Side: Your data never leaves your browser. Zero server processing or data storage.

Calculate monthly car financing payments, trade-in value, and total interest.

Vehicle Price ($)

Down Payment & Trade-In ($)

Interest Rate (%)

Loan Term

Monthly Payment

$579

Total Loan Financed: $30,000

Total Interest Paid: $4,714