Auto Loan Calculator
Find your car payment after the down payment, trade-in, sales tax and fees.
Monthly payment
645.52
- Amount financed
- 32,600.00
- Sales tax
- 2,100.00
- Total interest
- 6,131.14
- Total cost of the car
- 43,731.14
Show the work
Sales tax on the price minus the trade-in
tax = max(0, price − trade-in) × rate ÷ 100
max(0, 35,000.00 − 0.00) × 6 ÷ 100 = 2,100.00
Amount financed
price − trade-in + owed + tax + fees − down
35,000.00 − 0.00 + 0.00 + 2,100.00 + 500.00 − 5,000.00 = 32,600.00
Rate per period
i = annual rate ÷ 100 ÷ 12
7 ÷ 100 ÷ 12 = 0.005833333333
Monthly payment
PMT = P × i ÷ (1 − (1 + i) to the power of −n)
32,600.00 × 0.005833333333 ÷ (1 − (1 + 0.005833333333) to the power of −60) = 645.52
Estimates for general information only — not financial advice.
How it works
Amount financed = price − trade-in + amount owed on trade-in + sales tax + fees − down payment; payment = A × i ÷ (1 − (1 + i)^−n)
Questions
- How does the auto loan calculator work?
- Amount financed = price − trade-in + amount owed on trade-in + sales tax + fees − down payment; payment = A × i ÷ (1 − (1 + i)^−n).
- What do I need to enter?
- Car price, Down payment, Trade-in value, Still owed on trade-in, Sales tax, Title, registration & fees, Annual interest rate, Loan term, Sales tax charged on. Optional fields can be left blank.
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