ClarityHow to use this tool
- Enter vehicle price, cash down payment, trade-in value, balance owed on trade-in, actual sales tax amount, financed fees, annual interest rate, loan term in months.
- Select Calculate to view the result.
- Check the method and assumptions below before using the result.
The method, explained
Amount financed = price + tax + fees + old balance − down payment − trade-in. Monthly payment = P × r / [1 − (1+r)⁻ⁿ], where r is the annual rate divided by 1,200. At zero interest, payment = P/n.
Using vehicle price = 30000 money, cash down payment = 5000 money, trade-in value = 8000 money, balance owed on trade-in = 3000 money, actual sales tax amount = 1800 money, financed fees = 400 money, annual interest rate = 6 %, loan term in months = 60, the result is 429.188194 currency. Change these example inputs to match your task; use the method above to check each step.
What to keep in mind
Fixed-rate monthly payments, with all entered tax and fees financed. Insurance, registration renewals and maintenance are excluded. The interest rate is not an APR inclusive of fees. A scenario calculation using your inputs, before unlisted fees or taxes. It is not a quoted product rate or personalized recommendation.
Common questions
Which inputs does this calculation need?
Estimate a car payment including a down payment, trade-in equity, financed taxes and fees. Enter vehicle price in money, cash down payment in money, trade-in value in money, balance owed on trade-in in money, actual sales tax amount in money, financed fees in money, annual interest rate in %, loan term in months. The filled example is editable and is not a saved personal record.
How should I interpret the result?
Fixed-rate monthly payments, with all entered tax and fees financed. Insurance, registration renewals and maintenance are excluded. The interest rate is not an APR inclusive of fees. A scenario calculation using your inputs, before unlisted fees or taxes. It is not a quoted product rate or personalized recommendation.
Methodology maintained by ClarityKit. How these tools are built and checked.