Amount financed
A $35,000 car with 8% tax and fees, $4,000 down, and a $2,000 trade-in does not finance $35,000. The page shows the financed amount before it shows the payment. Dealer add-ons you did not type are not included.
Your numbers
Car loan payment
Monthly principal and interest for a vehicle loan. Not ownership cost.$
%Nominal annual rate
months
Estimated monthly loan payment
$463.9960 monthsAmount financed$24,000.00
Total interest$3,839
Total repayment$27,839
How we got this
- Amount financed$24,000.00
- Monthly payment60 months at 6% nominal annual interest rate$463.99
- Total interest$3,839.23
What we assumed
- This is a fixed-rate amortizing car loan estimate, not a dealer or lender quote.
- The rate is a nominal annual interest rate compounded monthly. It is not a full APR with fees.
- Operating cost, insurance, fuel, and maintenance are not included. Use Car Affordability for that.
- You entered the financed amount directly.
Technical details
Method car-loan-v1.0.0Data Manual inputs / fixed rules
Guide
How the car-loan payment is built
Price, taxes and fees, down payment, and trade-in become an amount financed. That amount is amortized at the rate and term you type. Insurance, fuel, and depreciation are not in this payment. They are on the car-affordability page.
Term length versus the payment
A longer term lowers the monthly figure and raises total interest on the same amount financed. Type the rate from the dealer worksheet, not a national average this page does not fetch. Sales tax is only the percent or dollars you enter, not a DMV table for your county.
Insurance, fuel, and registration sit on the car-affordability page. Comparing two terms here and then ignoring those lines will make the cheaper payment look like the cheaper car.
Questions about this calculator
Why is my dealer payment different?
Extended warranties, GAP, prepaid maintenance, a different day-count, or a rate based on a different credit tier will move the payment. Compare the amount financed, not only the monthly number.
Does this include sales tax?
Only the tax and fees you enter. State motor-vehicle tax rules vary; this is not a DMV calculator.
Terms used here
- Amount financed
- Price plus tax/fees, minus down payment and trade-in, as you typed them.
- Money factor
- A lease concept. This page is a loan, not a lease.
Practical tips
- A longer term lowers the payment and raises total interest. Check both.
- If the payment looks affordable but the car is not, use car affordability for fuel and insurance.
Limits and caveats
- Not a dealer contract and not financial advice.
Results are for information. They are not legal, tax, medical, or financial advice. How the math is maintained · Report a wrong figure.
Engine notes
Rounding, versioning, and omissions that sit beside the guide rather than repeating it.
- Payment. Fixed-rate amortizing principal and interest from the shared Finance Engine. A $24,000 balance at 6% for 60 months is about $463.99 per month.
- Amount financed. Enter the financed amount directly, or compose it from price, down payment, trade-in, and taxes/fees.
- What this is not. The rate is a nominal annual rate compounded monthly, not a full APR with fees. It is not a dealer quote.