This calculator can help you determine your monthly auto loan payment or auto purchase price. After entering your current information, use the graph options to view how different loan terms or down payments can change your monthly payment. By clicking the "View Report" button, you may also see your entire amortization (pay off) schedule.

Monthly payment

The amount you pay each month on your auto loan.

Total purchase price (before tax)

This is the entire cost of your auto purchase. Make sure to include the vehicle cost, additional options, and any destination charges. Do not include sales tax in this amount. Sales tax will be figured for you and included in your after-tax price total.

Term in months

Number of months in the life of this loan.

Interest rate

This is the yearly rate of interest (APR) you pay on this loan. This is the rate which is charged or paid for the use of money. It is expressed as an annual percentage of the principal. It's calculated by dividing the amount of interest by the amount of principal.

Cash down

This is the total cash you put down. The more cash you pay, the smaller the loan you will need for financing.

Trade allowance

Amount you get for any automobile you trade in as part of this deal. In certain states, a trade-in can also reduce the amount of sales tax you have to pay. Consult the definition of "Sales Tax Deduction for Trade-In" for more information on trade-in vehicles and sales tax.

Amount owed on trade

Total amount you still owe on the trade-in vehicle.

Non-taxable fees (optional)

This refers to fees that you don't have to pay taxes on. These typically include document fees, or some other fees due at delivery.

Taxable fees (optional)

These are fees that are subject to sales tax. These typically include title transfer fees, or some other fees due at delivery.

Sales tax rate

The rate of sales tax you must pay for this purchase, expressed as a percentage of the sale price.

No sales tax deduction for trade-in

Check this box if you live in a state that calculates your sales tax based on the full purchase price. If the box is left unchecked, the sales tax is figured based on the purchase price minus the trade-in. Presently, California, the District of Columbia, Hawaii, Maryland, and Michigan do not let you deduct for trade-ins when figuring sales tax. Additionally, Alaska, Delaware, Montana, New Hampshire, and Oregon have no auto sales tax on the books.