Car deal comparison calculator
Two offers. One clear comparison. See beyond the monthly payment.
Your numbers
Includes entered taxes & fees in both modes.
Based on the assumptions you enter.
- Offer A monthly payment
- $642.75
- Offer B monthly payment
- $556.57
- Offer A total outlay
- $43,564.88
- Offer B total outlay
- $45,072.95
Total outlay includes cash down and loan payments. Chart and schedule show offer A. A tie means equal modeled total outlay.
Your options, side by side
| Option | Monthly payment | Total interest | Total cost |
|---|
Your path to paid off
Remaining loan balanceWhere your money goes
Monthly amortization
Unrounded calculation; values displayed to cents| Month | Payment | Principal | Interest | Balance |
|---|
Understand the numbers
How this calculator works
Compare the same vehicle and confirm which items each dealer includes in the written quote. A lower payment may come from a longer term rather than a better deal. Our total purchase outlay includes down payment and scheduled loan repayments, using the same tax rate and registration cost for both offers.
A worked example
Offer A has a $35,000 selling price at 6.5% for 60 months. Offer B cuts the price to $34,000 but raises APR to 7.5% and stretches repayment to 72 months. Compare total outlay, because the lower monthly bill can hide extra interest.
The formula, in plain sight
For each offer: principal = price × (1 + tax rate) + dealer fees + title − down payment. Total outlay = down payment + principal + interest. Difference = offer B outlay − offer A outlay.
Keep your comparison going
Learn more from the Consumer Financial Protection Bureau’s auto loan resources. Confirm contract details with your lender.
Frequently asked questions about compare dealer offers
How do I compare two car loan offers?
Compare written offers for the same vehicle using selling price, amount financed, APR, loan term, down payment, taxes, fees, and total payments. Check that each quote includes the same products and trade assumptions. This calculator compares the entered prices, rates, terms, dealer fees, and total outlay; use an itemized quote to account for items the calculator does not list separately.
Is a lower monthly car payment always a better deal?
No. A lower payment can come from a longer loan term, a larger down payment, or a different amount financed. A longer term may increase total interest and leave you owing money for more time. Compare APR, number of payments, total interest, and total outlay alongside the monthly amount before choosing an offer.
Related: 60 vs. 72 vs. 84 month calculator
Source: FTC car dealer offer guidance
Should I choose a lower APR or a shorter loan term?
Compare the total cost of each actual offer. A lower APR reduces the cost of borrowing, while a shorter term usually means higher monthly payments but fewer months of interest. Lenders may quote different APRs for different terms, so enter each written offer separately. Choose a payment that fits your budget without comparing rates in isolation.
Related: 60 vs. 72 vs. 84 month calculator
Source: CFPB auto loan guidance
How can I tell if a dealership is offering a good financing deal?
Get a preapproval from a bank or credit union, ask the dealer for the APR and total amount paid in writing, and compare both offers using the same price and loan term. Check promotion eligibility, down payment requirements, fees, and add-ons. The dealer’s offer may still be competitive, but a monthly payment alone does not show the full cost.
What hidden fees should I look for when financing a car?
Review the itemized out-the-door price and financing contract for taxes, title and registration, documentation or processing charges, optional products, and any other amount added to the loan. Ask what each charge covers and whether an add-on is optional. Fees and rules vary by dealer and location, so compare the written contract with the quote you agreed to.
Related: Out-the-door price calculator
Source: FTC car dealer offer guidance
How do dealer add-ons affect the total cost of an auto loan?
An add-on included in the amount financed increases the balance and can add interest over the loan term. This comparison calculator has no separate add-on field; include an agreed product in the offer price you enter or compare it directly on the written quote. Ask which products are optional and review their price before signing.
Related: Car payment calculator
Source: FTC car dealer offer guidance