# $45,000 Car Loan at 7% for 72 Months — Auto Loan Calculator

> Monthly car payment on a $45,000 vehicle at 7% over 72 months with $4,500 down, and the total loan cost.

- **Answer:** ~$690/mo
- **Category:** Finance & Money
- **Interactive calculator:** https://youcalc.com/en/finance-money/auto-loan/45000-car-7pct-72mo/
- **Price:** Free, no sign-up required
- **Full calculator:** [Auto Loan Calculator](https://youcalc.com/en/finance-money/auto-loan/)
- **Pre-filled inputs:** `pr=45000&dp=4500&r=7&tm=72`

| Metric | Value |
| --- | --- |
| Monthly payment | $690 |
| Amount financed | $40,500 |
| Total interest | $9,215 |
| Total loan cost | $49,715 |


## Overview

A 72-month term on a $45,000 car with $4,500 down lowers the payment to about $690 a month, more than $110 below the 60-month plan. That relief adds interest: it grows to roughly $9,215 over six years, lifting the loan cost to about $49,715 — nearly $1,600 more than the shorter term. For an expensive vehicle, this is the classic affordability-versus-total-cost decision.

## Method

The calculator first derives the taxable base by subtracting the trade-in from the vehicle price (floored at zero), multiplies that by the sales-tax rate to get the sales-tax amount, then computes the out-the-door price as vehicle price plus sales tax plus fees. The amount financed is the out-the-door price minus the down payment and minus the trade-in, again floored at zero. The monthly payment uses the standard level-payment amortization formula M = P · r(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the amount financed, r is the monthly rate (APR divided by 12), and n is the term in months; at r = 0 the formula degenerates and the calculator falls back to M = P / n. Both the payment formula and the per-month amortization schedule are provided by the shared levelPayment and amortize functions. Total interest is summed from the interest column of the schedule; total loan cost is the amount financed plus total interest. Sources: Bankrate auto loan calculator methodology, Edmunds simplified pricing model, and Investopedia amortization definition.

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## Sources

- https://www.bankrate.com/loans/auto-loans/auto-loan-calculator/
- https://www.edmunds.com/calculators/simplified-pricing.html
- https://www.investopedia.com/terms/a/amortization.asp

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Interactive version: https://youcalc.com/en/finance-money/auto-loan/45000-car-7pct-72mo/ · From YouCalc — https://youcalc.com