Example 1
- Price: 25000
- Down: 3000
- Trade-in: 2000
- Tax: 0%
- APR: 6.5%
- 60 months
391.32
What is the payment on $25,000, $3,000 down, $2,000 trade-in, 6.5% and 60 months? $391.32 on $20,000 financed.
Auto Loan Calculator
The calculator finds the annuity payment from price, down payment, trade-in, optional sales tax, APR and months. $25,000 minus $3,000 and $2,000, 6.5% for 60 months, is $391.32.
A payment from principal and rate, without a vehicle price, is on the loan instalment page. Ownership cost: car TCO.
Result
Enter price, down payment, trade-in, tax, APR and months. The payment will appear here.
How it works
The calculator first finds the amount financed: price plus sales tax minus down payment and trade-in. Tax is taken on the vehicle price, not on price minus trade-in. Some US states use a different tax base.
At $25,000, a $3,000 down payment, a $2,000 trade-in and 0% tax, $20,000 is financed. At 6.5% APR for 60 months the annuity payment is $391.32. Sixty payments total $23,479.38, and interest is $3,479.38.
The monthly rate is APR / 100 / 12. When APR is 0, the payment is the amount financed divided by the months. $20,000 over 60 months with no interest is $333.33.
At 6% tax on $25,000, tax is $1,500. Then $21,500 is financed, and the payment at the same APR and 60 months is $420.67.
Months must be a whole number, at least 1. The calculator does not accept negative amounts. When nothing is left after the down payment and trade-in, there is no payment.
This is not a lender quote, not APRC, and not a schedule with fees. A payment from principal alone belongs on the loan instalment page.
Formula
financed = price + price×tax%/100 − down − trade-in; payment = P·r·(1+r)^n / ((1+r)^n−1)
r = APR/100/12. When r = 0, payment = P/n. n is the number of months.
How to use
- Enter price 25000, down payment 3000 and trade-in 2000. Leave tax at 0, APR 6.5, months 60.
- The result is a $391.32 payment on $20,000 financed.
- Add tax 6. The payment rises to $420.67, because $21,500 is financed.
- At APR 0 and the same $20,000 over 60 months the payment is $333.33.
$391.32 from $20,000 at 6.5% for 60 months
An annuity payment pays principal and interest in equal amounts. $20,000 at 6.5% for 60 months is $391.32.
- financed
- Price plus tax minus down payment and trade-in. Here $20,000, or $21,500 at 6% tax.
- APR
- The annual percentage rate. It is divided by 12 before it enters the payment formula.
- annuity
- An equal payment. Early months put more toward interest, later months toward principal.
Examples
Example 2
- Price: 25000
- Down: 3000
- Trade-in: 2000
- Tax: 6%
- APR: 6.5%
- 60 months
420.67
What is the payment when 6% tax is added to that price? $420.67, because $21,500 is financed.
Example 3
- Price: 20000
- Down: 0
- Trade-in: 0
- Tax: 0%
- APR: 0%
- 60 months
333.33
What is the payment on $20,000 with no interest for 60 months? $333.33, because 20,000 / 60.
Related calculators
Frequently asked questions
What is the payment on $25,000, $3,000 down, $2,000 trade-in, 6.5% and 60 months?
$391.32. $20,000 is financed.
Is tax taken on price minus trade-in?
No. On this page tax is taken on the vehicle price. Some US states use a different base.
What is the payment with 6% tax in that example?
$420.67, because $21,500 is financed.
What happens when APR is 0?
The payment is the amount financed divided by the months. $20,000 / 60 = $333.33.
Is this a lender quote?
No. There are no fees, no insurance and no APRC.
How is this different from the loan instalment page?
Here you start from a vehicle price, a down payment and a trade-in. The loan instalment page starts from principal.
Can the term be a fraction of a month?
No. It must be a whole number, at least 1.
What if the down payment and trade-in cover the price?
The calculator reports that nothing is left to finance.
Sources
The annuity payment is the standard US auto-loan formula.
Page updated in 2026.