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Use this calculator to help you determine
your monthly auto loan payment or your auto purchase price. After
you have entered your current information, use the graph options
to see how different loan terms or downpayments can impact your
monthly payment. You can also examine your complete amortization
schedule by clicking on the "View Report" button.
Monthly payment
Monthly payment for your auto financing.
Total purchase price (before tax)
This is the total cost of your auto purchase.
Include the cost of the vehicle, any additional options and any destination
charges. Don't include sales tax in this amount. Sales tax will be calculated
for you and included in your total after tax price.
Term in months
Number of months for this loan.
Interest rate
Annual interest rate for this loan.
Cash down
Total amount of cash used in this purchase. The larger your cash
down payment the smaller the loan you will need to finance this purchase.
Trade allowance
The total amount that you are given for any automobile that
you trade-in as part of this purchase. In some states a trade-in can also reduce
the amount of sales tax you will owe. See the definition for "Sales tax
deduction for trade-in" for more information on trade-in vehicles and
sales tax.
Amount owed on trade
Total loan balance still outstanding on the trade-in.
Non-taxable fees (optional)
Any additional fee that is not subject to sales
tax. This usually includes document fees or any other fees that may be due
at delivery and are not taxable.
Taxable fees (optional)
Any additional fee that is subject to sales tax. This
usually includes title transfer fees or any other fees that may be due at delivery
and are taxable.
Sales tax rate
Sales tax percentage rate charged on this purchase.
No sales tax deduction for trade-in
If you live in a state where your sales
tax is calculated on your full purchase price, check this box. If this box
is unchecked, sales tax is calculated on the purchase price less trade in.
Currently California, the District of Columbia, Hawaii, Maryland, and Michigan
allow no deductions for trade-ins when calculating sales tax. In addition,
Alaska, Delaware, Montana, New Hampshire, and Oregon have no sales tax on autos.
Information and interactive calculators are made available to you as self-help
tools for your independent use and are not intended to provide investment advice.
We can not and do not guarantee their applicability or accuracy in regards
to your individual circumstances. All examples are hypothetical and are for
illustrative purposes. We encourage you to seek personalized advice from qualified
professionals regarding all personal finance issues.
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