Vehicle
Car & Truck Loan Payment
Find your monthly payment, total interest and total cost, and see 48, 60, 72 and 84-month terms side by side.
The vehicle
The loan
Same loan, four terms
| Term | Payment | Interest | Extra vs. 48 mo |
|---|---|---|---|
| 48 mo(4 yrs) | $619 | $4,114 | — |
| 60 mo(5 yrs) | $513 | $5,182 | +$1,068 |
| 72 mo(6 yrs) | $443 | $6,274 | +$2,160 |
| 84 mo(7 yrs) | $393 | $7,389 | +$3,275 |
Same amount financed and the same rate on every row. In real life, lenders often charge a higher rate on longer terms, which makes the long rows cost even more.
What this means
You’d borrow $25,620 and pay $443 a month for 72 months. Over the life of the loan that’s $6,274 in interest, so the vehicle costs you $39,894 in all.
Stretching from 48 to 84 months lowers the payment by $226 a month but adds $3,275 in interest. That’s the trade a long loan makes: a smaller bill now for a bigger one overall, plus more years where you can owe more than the vehicle is worth.
Your 72-month term costs $2,160 more in interest than a 48-month loan would. If the $619 payment fits your budget, the shorter loan keeps that money in your pocket.
These are estimates to help you think, not personalized legal, tax, or investment advice, and not a promise of any result.
This calculator works out the monthly payment on a car or truck loan from the price, your cash down, the value of a trade-in, sales tax, the interest rate and the term. It also shows what the loan costs in interest and what the vehicle costs you in total, and lines up 48, 60, 72 and 84-month terms side by side so you can see what stretching the loan really does.
Why it matters: the dealer's first question is usually what payment you're looking for, and almost any payment can be hit by making the loan longer. The payment drops a little with each extra year while the interest climbs a lot. Seeing both columns at once is the easiest way to keep a comfortable payment from turning into an expensive loan.
How to use it
Enter the deal
The negotiated price, your cash down, and the trade-in credit (what the dealer gives you minus anything still owed on it). Add dealer fees to the price if you're financing them.
Add sales tax and the rate
Your state's sales tax rate and the APR. Get a rate quote from a bank or credit union first so you have a number for the dealer to beat.
Read the term table, not just the payment
Your term is highlighted. Look across the row to the extra interest column: that's what each longer term costs compared with the shortest one.
Behind the numbers
Amount financed
The price plus sales tax, minus your cash down and trade-in. This is the number the interest is charged on, so every dollar you knock off it saves interest for the whole term.
Why long loans cost more than they look
A longer term spreads the same balance over more payments, so each payment is smaller. But the balance shrinks more slowly, so interest is charged on more money for more months. Going from four years to seven can cut the payment by about a third while the interest nearly doubles.
Long loans and being underwater
Vehicles lose value fastest in the first few years. On a long loan the balance falls slower than the value does, so for years you can owe more than the vehicle is worth. That matters if it's totaled, or if you want to trade it in before the loan is done.
The math behind it
Start with the amount financed: price plus sales tax, minus cash down and trade-in. The monthly rate is the APR divided by 12. The payment is the fixed amount that, after each month's interest is charged on the remaining balance, pays the loan to exactly zero on the last month. Total interest is every payment added up minus the amount financed.
Worked example
$25,000 financed at 8%. Over 48 months the payment is $610.32 and the interest comes to about $4,296. Over 84 months the payment drops to $389.66, about $221 a month less, but the interest climbs to about $7,731. The lower payment costs about $3,435 more.
Price the loan, not the payment
When a dealer asks what monthly payment you want, answer with the price and the term you want instead. Then check the interest column for that term. A payment can always be made smaller; the total is what you actually pay.
Common questions
Is a 72 or 84-month car loan a bad idea?
It costs more in interest and keeps you in debt longer, and lenders often charge a higher rate for longer terms, which this calculator doesn't add on its own. If the only way a vehicle fits your budget is a 7-year loan, that's usually a sign to look at a cheaper vehicle rather than a longer loan.
Is sales tax included in the payment?
Here it is. The calculator assumes the tax is rolled into the loan, which is the common default at a dealership, and charges it on the price after the trade-in, which is how most states do it. If you pay the tax in cash, add it to your down payment.
Should I put more money down or take a shorter term?
Both cut interest. More down lowers the amount financed; a shorter term pays it off faster. Run both in the calculator. Whichever you choose, keep enough cash aside for an emergency fund so a repair doesn't land on a credit card.
Go deeper
The calculator gives you a number. The Transportation Brick teaches you what to do with it, in plain English. And if you’re not sure where to start, the free BrickScore Assessment checks your whole foundation in about 5 minutes.
first the number, then the move