Auto Loan Calculator
Car payment including sales tax, down payment and trade-in.
- Sales tax
- $2,450.00
- Amount financed
- $32,450.00
- Total interest
- $6,011.14
- Total loan payments
- $38,461.14
- Total vehicle cost
- $43,461.14
How this calculator works
Sales tax is applied to the price after the trade-in credit. The down payment and trade-in are subtracted to find the amount financed, which is then amortized over the term.
Formula
Financed = Price + Tax − Down payment − Trade-in; Payment = F × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
Example
A $35,000 car with $5,000 down and 7% tax finances $32,450. At 6.9% for 60 months that is about $641 a month.
When to use it
- Decide between 60- and 72-month terms
- See what a trade-in is worth to your payment
- Set a realistic price range before visiting a dealer
Frequently asked questions
Should I choose a 72- or 84-month car loan?
Longer terms lower the payment but add interest, and you may owe more than the car is worth for years. If you can afford it, 60 months or less is usually cheaper overall.
Is sales tax charged on the trade-in value?
In many US states, sales tax applies only to the price after the trade-in credit, which this calculator assumes. Rules vary, so check your local policy.
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