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.
Input reference and sample values
Use the units and choices shown for each field. Sample values are provided for practice, not as recommendations.
| Input | Format and units | Sample |
|---|---|---|
| Vehicle price | Numeric value. Unit: money. Zero or positive. | 30000 |
| Cash down payment | Numeric value. Unit: money. Zero or positive. | 5000 |
| Trade-in value | Numeric value. Unit: money. Zero or positive. | 8000 |
| Balance owed on trade-in | Numeric value. Unit: money. Zero or positive. | 3000 |
| Actual sales tax amount | Numeric value. Unit: money. Zero or positive. | 1800 |
| Financed fees | Numeric value. Unit: money. Zero or positive. | 400 |
| Annual interest rate | Numeric value. Unit: %. Zero or positive. Maximum: 100. | 6 |
| Loan term in months | Whole numbers only. Minimum: 1. Maximum: 120. | 60 |
Result for these sample inputs
429.188194 currency units
- Amount financed
- 22200
- Total loan payments
- 25751.2916
- Total interest
- 3551.29164
Monthly principal and interest. Enter the actual tax amount; regional trade-in tax rules are not inferred.
Select Try the example in the form to load these values and calculate them again. This replaces the current form inputs. Compare the result with the method and worked explanation below.
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.
Methodology maintained by ClarityKit. How these tools are built and checked.