Vehicle Loan Calculator
Estimate your monthly car payment, see how interest rates and loan terms affect total cost, and factor in trade-in value and sales tax for the full picture.
Monthly Payment
$635
60-month loan at 6.5%
Loan Amount
$32,450
Sales Tax
$2,450
Total Interest
$5,645
14.8% of payments
Total Cost
$43,095
All-in cost to own
Cost Breakdown
Create a full plan
Create a free plan to see your complete financial picture
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How loan term affects total cost
A longer loan term (72 - 84 months) gives you a lower monthly payment, but you'll pay thousands more in interest over the life of the loan. A 60-month term is typically the sweet spot between affordable payments and reasonable total cost.
Don't forget sales tax
Sales tax can add $2,000 - $5,000+ to a vehicle purchase, and many buyers finance it into the loan. In most states, you only pay sales tax on the difference between the purchase price and your trade-in value - this calculator accounts for that.
The 20/4/10 rule
Financial advisors recommend the 20/4/10 rule: put at least 20% down, finance for no more than 4 years, and keep total transportation costs under 10% of gross income. Use this calculator to see if your target vehicle fits within these guidelines.
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