Estimate a fixed-rate vehicle loan payment, taxes, trade-in equity, total borrowing cost, extra-payment savings, and amortization.
An auto loan finances the purchase amount left after rebates, the down payment, and trade-in equity, plus taxes and financed fees. Negative trade-in equity increases the balance because the old loan payoff exceeds the trade-in value.
This calculator uses the nominal annual interest rate you enter. It does not calculate a fee-adjusted APR; use the related APR Calculator when you need a cash-flow-based APR estimate.
Trade-in equity is trade-in value minus the old loan payoff, so negative equity increases financing.
Price − rebate − down payment − trade-in equity + sales tax + feesThe selected mode controls whether rebate and trade-in value reduce the tax base. Actual rules vary by location.
Sales tax = max(0, selected tax base + taxable fees) × tax ratePayment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)A $35,000 vehicle with a $1,000 rebate, $5,000 down payment, $8,000 trade-in with a $3,000 payoff, 6% tax, and $500 taxable fee produces $5,000 positive trade-in equity. Using tax after rebate and trade-in, sales tax is $1,590 and amount financed is $26,090. At 6.5% for 60 months, the estimated payment is $510.48.
A $30,000 vehicle with $5,000 down, no tax or fees, and no trade-in finances $25,000. At 6% for 60 months, the estimated payment is $483.32.
A lower monthly payment can come from a longer term that increases total interest. Compare payment, term, and total loan payments together.
Rebates, trade-ins, and taxable dealer fees are treated differently across jurisdictions. Match the selected mode to an official buyer’s order or local guidance.
The entered interest rate drives this schedule. Fees can make an APR different, so compare lender disclosures or use the APR Calculator for an estimate.
A down payment is buyer cash that reduces financing and is shown as upfront cash. A rebate reduces vehicle cost but is not counted as cash paid by the buyer.
Trade-in equity equals vehicle value minus its loan payoff. Positive equity reduces the new balance. Negative equity is carried into the new amount financed without being clamped to zero.
The calculator applies the user-entered rate to the selected base and adds taxable fees before calculating tax. Taxable dealer/document fees, non-taxable fees, and registration/title fees are all financed in this version, so they are not added to upfront cash.
An optional extra amount is applied after the required payment directly to principal. It does not change the required scheduled payment, but it can reduce interest and shorten the payoff timeline.
A fixed-payment formula uses the amount financed, monthly interest rate, and scheduled payment count. At 0% interest, principal is divided by the number of payments.
The appropriate amount depends on cash needs, vehicle value, financing terms, and personal circumstances. The calculator shows how any entered down payment affects financing without recommending an amount.
The trade-in value minus its payoff is equity. Positive equity reduces the new balance, while negative equity increases it.
Negative equity means the old loan payoff exceeds the vehicle’s trade-in value. The difference is added to amount financed here.
This calculator finances the estimated user-entered sales tax. Actual tax treatment and whether it is financed vary by transaction and location.
All entered taxable, non-taxable, and registration/title fees are financed in this version.
A longer term generally lowers the required payment but leaves principal outstanding longer, which can increase total interest.
When the lender applies extra payments to principal without a penalty, a lower balance can reduce future interest and shorten payoff time.
Dealer calculations may use different taxes, fees, add-ons, timing, rounding, or financing terms.
Yes, for a standard fixed-rate monthly loan. Enter the applicable price, tax assumptions, fees, trade-in, rate, and term.
No. It uses the nominal annual interest rate entered. The related APR Calculator estimates a fee-adjusted rate from loan cash flows.
The interest rate determines schedule interest. APR can include certain borrowing costs and may be higher than the nominal rate.
Consumer education about vehicle financing and trade-ins.