Free tool · Richardson, TX
Auto Loan Calculator
Your monthly car payment depends on more than the sticker price: sales tax, dealer and registration fees, your trade-in and what you still owe on it all change the amount you finance. This calculator applies Texas's vehicle sales tax and shows the payment, total interest and the real total cost of the vehicle for terms from 36 to 84 months.
Estimates only — not financial advice or a loan offer. Defaults use Texas averages; replace with your dealer or lender quote.
How is a car payment calculated?
The amount financed is price plus sales tax plus fees, minus down payment and trade-in equity. The lender then applies the standard amortization formula for your rate and term. Longer terms lower the payment but raise total interest and increase the time you owe more than the car is worth.
What term should I choose?
Shorter is cheaper overall. A 60-month loan is the common middle ground; 72 and 84 months lower the payment but can cost thousands more in interest and leave you upside-down for years. Compare the total interest line as you change the term.
Does a trade-in reduce sales tax?
In most states, yes — tax applies to the price minus the trade-in value. The calculator taxes the net amount; if your state taxes the full price, set trade-in to 0 and add it to the down payment instead.
Worked example
A $35,000 car with $4,000 down, 6.25% sales tax and $500 in fees means about $33,600 financed. At 7% for 60 months the payment is roughly $665 and total interest about $6,300. Stretching to 84 months drops the payment to about $507 but interest climbs past $9,000.
Frequently asked questions
What is a good interest rate for a car loan?
It depends on credit. In 2026, strong-credit borrowers see rates in the mid single digits for new cars; subprime rates can exceed 15%. Credit unions are often cheaper than dealer financing.
Should I take the rebate or the low APR?
Enter both scenarios: a rebate lowers the price, a low APR lowers the rate. Compare total cost, not the monthly payment.
How much should I put down on a car?
20% on a new car and 10% on a used car is the traditional guidance to avoid being upside-down.
Does the calculator include GAP or extended warranties?
No. Add them to the fees field if you plan to finance them.
Can I pay off a car loan early?
Most auto loans allow it without penalty — check your agreement for any prepayment terms.
Is it better to finance through the dealer or a bank?
Get a pre-approval from a bank or credit union first, then let the dealer try to beat it.
Business vehicle & equipment financing in Richardson
Buying vehicles or equipment for your business? Harvestgate Business Capital arranges commercial financing across Richardson, TX: