Calculator
Car Down Payment Calculator
Enter the vehicle price, your down payment, any trade-in, the rate, and the term. The tool shows the amount financed, the monthly payment, and the total interest, then repeats the payment with the down payment doubled.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: AutoLoanable may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
The down payment lowers the amount you finance, which lowers both the payment and the interest.
financed = price − down payment − trade-in, and payment = P × i ÷ (1 − (1 + i)^-n)
- P — the amount financed after the down payment and trade-in
- i — the monthly rate, the annual rate divided by 1,200
- n — the number of monthly payments
The tool also recomputes the payment with the down payment doubled. Total interest is the payment multiplied by n minus P. A larger down payment helps, but keep an emergency fund. Enter the rate you were offered.
What changes your result
Only a few inputs move the number materially. In rough order of impact:
| Input | Effect on the payment | Effect on total cost |
|---|---|---|
| Amount financed | Directly proportional | Directly proportional |
| Interest rate / APR | Directly proportional | Directly proportional |
| Term (months) | Lower payment when longer | Higher total interest when longer |
| Down payment | Lowers the payment | Lowers total interest |
| Trade-in equity | Lowers the amount financed | Lowers total interest |
| Sales tax and fees | Raises the amount financed | Raises total cost |
Enter the rate you were actually offered. This site is not a lender and does not publish rates — a quoted rate is only meaningful next to the term and the amount financed.