Car loan
calculator
Price minus your down payment and trade-in is what you actually finance. Enter the numbers and see the monthly payment, the total interest, and what the car really costs by the end.
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OSALO Desktop Calculator
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How car financing works
You finance the price minus everything you bring: cash down and any trade-in value. That balance amortizes over the term exactly like any fixed loan, same formula, shorter timescale, typically 36–72 month terms.
7% · 60 months → $594.04/mo
Total interest ≈ $5,642 · total cost ≈ $40,642
The long-loan trap
Stretching to 72 or 84 months shrinks the payment but grows the interest, and cars depreciate fast, so long terms often leave you owing more than the car is worth ("underwater") for years. A useful guardrail is the 20/4/10 rule: 20% down, no more than 4 years, total car costs under 10% of gross income.
Fees and extras
Sales tax, registration and dealer fees are often rolled into the financed amount, add them to the price field to see the true payment. For home-scale borrowing the mortgage calculator uses the same engine with taxes and insurance on top.
Car loan FAQ
The amount financed (price minus down payment and trade-in) amortizes at the monthly rate over the term. $30,000 at 7% over 60 months is about $594 a month.
Shorter is cheaper: 36–48 months minimizes interest and underwater risk. 60 is the common middle. 72–84 months lowers the payment but often costs thousands more and outlasts the car's best years.
Yes where possible, it cuts the financed amount, the interest, and the risk of owing more than the car is worth as it depreciates. The classic guide is 20% down.
Not automatically. If tax and dealer fees will be rolled into the loan, add them to the vehicle price field to see the real payment.