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Car Loan Calculator with Trade-In

See what your trade-in deal really costs.

Your Deal

$

Negotiated price before taxes and fees.

$

Cash you pay upfront at signing.

$

What the dealer offers for your current car.

$

Remaining loan balance on your trade-in.

%

From your lender quote. 5-7% excellent, 8-12% good, 13-18% fair credit.

Most auto loans are 36-84 months

Sets sales tax rate (6.3%)

Estimated Monthly Payment

$627.34

60 months at 6.5% APR with trade-in

Amount Financed

$32,063

Total Interest

$5,578

Total Cost

$42,640

Cash at Signing

$2,000

Trade-in credit applied (TX)

Amortization
Y1
Y2
Y3
Y4
Y5
Principal Interest

Compare Loan Terms

Payment Comparison

Stretching to 72 months lowers your payment by $88/mo, but adds $1,165 in total interest.

TermMonthlyInterestTotalvs. Yours
36mo$982.68$3,314$35,376+355/mo , -2,264 int.
48mo$760.36$4,435$36,497+133/mo , -1,143 int.
60mo$627.34$5,578$37,640Baseline
72mo$538.97$6,743$38,806-88/mo , +1,165 int.
84mo$476.11$7,931$39,993-151/mo , +2,353 int.

What If the Dealer Offers Less for Your Trade-In?

-$3,000

$689.71/mo

+62.37/mo

-$1,500

$658.52/mo

+31.18/mo

Your estimate

$627.34/mo

+$1,500

$596.16/mo

-31.18/mo

+$3,000

$564.97/mo

-62.37/mo

This calculator provides estimates for educational purposes. Actual financing terms, fees, and taxes vary by lender, dealer, and state. Tax rates shown are base state rates and may not include local taxes. Trade-in values are estimates; actual dealer offers may differ. This is not a loan offer or financial advice.

Monthly Payment

$627.34

Financed

$32,063

Due Today

$2,000

Frequently Asked Questions

How does a trade-in reduce my car loan amount?
Your trade-in value is subtracted from the vehicle's purchase price before the loan is calculated. For example, if the car costs $35,000 and your trade-in is worth $8,000, the base amount financed drops to $27,000 (before taxes and fees). If you still owe money on your trade-in, only the net equity counts. A trade-in worth $8,000 with $5,000 still owed contributes $3,000 toward your new purchase.
Is sales tax calculated before or after the trade-in deduction?
It depends on your state. Most US states apply sales tax only to the difference between the new car's price and the trade-in value, which lowers your tax bill. However, some states (including California, Hawaii, and the District of Columbia) tax the full purchase price regardless of trade-in. This calculator uses state-specific rules for all 50 states and DC to give you an accurate estimate.
How does loan term length affect total cost?
Longer loan terms (60-84 months) reduce your monthly payment but increase the total interest paid over the life of the loan. For example, on a $30,000 loan at 6.5% APR, a 48-month term costs about $4,100 in total interest, while a 72-month term costs about $6,400. Shorter terms mean higher monthly payments but significantly less money paid to the lender overall.
What does it mean to be "upside-down" or have negative equity on a car loan?
Negative equity (being "upside-down") means you owe more on your current car loan than the vehicle is worth. If your trade-in is valued at $8,000 but you still owe $11,000, you have $3,000 in negative equity. That $3,000 gets added to your new loan balance, increasing your monthly payment and total cost. This is common with longer loan terms or minimal down payments.
What is the difference between APR and interest rate on a car loan?
The interest rate is the base cost of borrowing money. The APR (Annual Percentage Rate) includes the interest rate plus certain fees, giving a more complete picture of borrowing costs. For car loans, the difference is often small because most fees are paid upfront rather than rolled into the rate. Lenders are required to disclose the APR, making it the better number to use when comparing loan offers.
What is a good APR for a car loan?
Car loan APRs vary based on credit score, loan term, and whether the vehicle is new or used. As a general reference: borrowers with excellent credit (750+) typically see rates between 4-6%, good credit (700-749) around 6-8%, fair credit (650-699) around 8-12%, and below 650 may see 12% or higher. Rates change with market conditions, so the APR quoted by your lender is always the most accurate source for your situation.
How does a larger down payment affect my car loan?
A larger down payment directly reduces the amount you need to borrow, which lowers both your monthly payment and the total interest paid. For instance, putting $5,000 down instead of $2,000 on a $35,000 car at 6.5% over 60 months saves roughly $600 in interest and reduces the monthly payment by about $60. A down payment of 10-20% of the vehicle price also reduces the risk of ending up with negative equity.