Auto loan calculator with trade-in and payoff
Build the opening loan balance from a written vehicle quote. Include what you owe on a trade-in, then compare payments and interest across loan terms in US dollars.
Calculate this scenario
Example figures only. Replace every amount and rate with your written offer. These are not current market rates.
Use a decimal point, no thousands separators and up to two decimal places. Every field is required; use 0 when a cost does not apply. Money: 0–1,000,000,000 USD; rate: 0–100%; term: 1–360 whole months.
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Monthly amortization estimate. Auto loans may accrue interest daily or use precomputed interest, producing a different schedule. Leasing, refinancing, balloon payments, lender approval and future vehicle value are not modeled.
Trace the opening balance
Price + taxes + purchase fees − cash down payment − trade-in value + old-loan payoff = opening loan balance. Enter every charge once. If the vehicle price already includes tax, do not add the same tax again. Amounts paid in cash belong in the total cash down payment.
Worked example: carrying an old-loan shortfall
$25,000 price + $2,000 tax + $500 fees − $3,000 cash − $8,000 trade-in + $10,000 old-loan payoff = $26,500 opening balance. The $2,000 trade-in shortfall remains in the modeled debt. At 6.5% for 60 months, this monthly model gives a $518.51 regular payment, $517.99 last payment and $4,610.08 total interest. These are the editable example figures above, not a lending offer.
Compare terms without changing the deal
The 48, 60, 72 and 84 month comparison keeps the balance and rate unchanged. Compare total interest and loan payments beside the monthly payment. Actual offers can use different rates for each duration. Fuel, maintenance and ongoing insurance are separate. CFPB: comparing auto loan offers.
Does a trade-in erase the old loan?
Compare the trade-in offer with a current payoff quote. A shortfall can be carried into a new agreement, so check the written breakdown instead of assuming it disappears. A zero new-loan balance produces no amortization schedule here; an excess contribution is shown separately for you to check with the seller. CFPB: trading in a financed vehicle.
Where do I get taxes and fees?
Ask for an itemized written purchase quote. Enter each amount once. This calculator does not estimate state taxes or tax credits for a trade-in. FTC: financing or leasing a car.
Will my lender’s schedule match?
Not necessarily. Daily interest, payment dates and precomputed interest can produce different totals. Use the written loan schedule to check the contract. CFPB: simple and precomputed interest.
How this estimate works
The model charges interest monthly on the opening balance and rounds that month’s interest to the nearest cent, half up. It finds a fixed whole-cent payment that pays off this single loan within the requested term, then builds the complete schedule. The last payment cannot exceed the regular payment. Small balances and cent rounding can produce fewer payments than the requested term.
The first estimated payment is next calendar month. Display, CSV and print use that same month. Actual lender dates can differ.