Not financial advice. This page is general information and an estimate, not financial, tax or legal advice, and not an offer of credit. We don't state current rates and can't tell you whether you'll be approved. Lenders set their own requirements and terms, so confirm with the lender and a qualified professional.

Freelance income moves around, which makes a fixed car payment worth planning carefully. This calculator shows the monthly payment, total interest and total cost for a loan, and compares terms side by side so you can see what a lower payment really costs. It runs in your browser; nothing you enter is sent anywhere.

Vehicle price $ Down payment $ Trade-in value $ Interest rate (APR, % per year) Use the APR from a lender's quote. We don't supply current rates, and the value shown is only a placeholder. Loan term Sales tax (% of price) Fees: title, registration, dealer $ Balance still owed on your trade-in $ Roll that balance into the new loan The CFPB warns that rolling an old balance into a new loan can make it much more expensive. Sales tax, title and registration rules vary by state, and sales tax may apply differently when you have a trade-in; check your state's rules.

Same loan, different terms

Why total cost matters more than the monthly payment

The CFPB and the FTC both say to compare the total cost of a loan, not just the monthly payment. A longer term usually means a lower payment but more total interest, and it also keeps you at risk of owing more than the car is worth for longer (negative equity). The CFPB's sample for a $20,000 loan at 4.75% shows the effect: about $1,498 of interest over 36 months versus about $3,024 over 72 months.

The CFPB's definition of "amount financed" includes the vehicle price, taxes and government fees, and any add-ons, minus your down payment and trade-in. That's what this calculator uses. Taxes, title and registration fees aren't negotiable, but dealer fees and add-ons often are.

If your income varies

Pick a payment you could cover in a slow month, not an average one, and remember insurance, fuel, registration and repairs come on top of the loan. Our guide on getting a car loan with variable income covers the application, preapproval and negotiating steps. Owning a car also changes your taxes if you use it for work, so see our estimated taxes guide, and if you're also planning a home purchase, try the mortgage calculator, since a car payment adds to your monthly debt on a mortgage application.

Limits of this calculator

It assumes a fixed-rate, monthly-payment loan with no prepayment penalty and no payments deferred.
Lenders' APR figures can include certain fees, and your actual payment can differ slightly from this estimate.
It doesn't show whether you'll qualify or what rate you'll get; compare offers from several lenders.

Sources: CFPB Take control of your auto loan (including its comparison worksheet) and the FTC page on financing or leasing a car, read October 17, 2026.