June 23, 2016

Car Auto Loan Payment Refinance Calculator

How Much Car Can I Afford?

Buying a new car is an important major purchase, and finding the right loan product that best fits your budget is key to your financial well being. The auto loan calculator let’s you determine possible monthly loan payments based on various vehicle values, annual interest rates (percentages), loan terms, and down payment or balloon payment amounts.

Car Loan Details

Purchase Price Before Tax

Sale Price + Options:

Destination charge:

Title Transfer Fee:

Other Taxable Fees:

Purchase Price:

State Sales Tax

Trade-In is Tax Deductible:

Rebate is Tax Deductible:

State Sales Tax Rate:

Net Taxable:

State Sales (Excise) Tax:

Non-Taxable Fees


Late Registration Fee:

Service Contract:

Special Plate Fee:

Administration Fee:

Transaction Fee:

Late Title Transfer Fee:

Duplicate Title Fee:

Other Non-Taxable Fees:



Total Non-Taxable Fees:

Loan Amount

Unpaid Loan Balance on Trade-In:

Less Down Payment:

Less Value of Trade-In:

Less Cash Rebate:

Total Loan Amount:

The FAQ’s section below provides important information about different payment options when purchasing a new car.

How can I pay for my New Car?

When purchasing a new car there are several options available for buyersthat include,paying cash in full, dealer financing, personal loans, and lease agreements. Each finance option gives the purchaser an opportunity to take immediate possession of the vehicle while making a pre-established monthly payment over time. All of the payment plans offer different terms and should be explored thoroughly for theirmany offerings-and any disadvantages.

Full Cash Purchase- The new car buyer pays cash for the entire purchase of the vehicle.

Dealer Financing- Dealer financing is sometimes also referred to as ‘indirect financing’ whereby the dealer makes the loan and sells it to a finance company, bank, or credit union that has previously approved the buyer’s credit. This gives the auto dealer the opportunity to increase the interest rate, though they may actually qualify for a lower APR.

Personal Loan- Car buyers with established or decent credit histories have the option of financing their purchases with their own auto loan obtained from a bank or credit union.This is considered ‘direct auto lending’ and interest rates are often fairly competitive.

Lease Agreements- Auto dealers offer buyers the option to ‘lease’ rather than purchase new vehicles, keeping payments manageable. After the lease term is up, the auto can either be purchased outright, or turned back in (where a new car and lease can be negotiated).

How does the Auto Loan Calculator work?

If you choose to finance your purchase, the auto loan calculator let’s you explore all of the costs involved in buying a car on credit. The calculator allows you to change many variables such as the purchase amount, interest rate, and loan term to determine the monthly payment amount and overall cost of the loan. The auto loan calculator will also break down the payment figure into the portion applied to capital and the amount allocated to interest only. Based on this information, you can make an informed decision about the loan product or agreement that’s right for you.

What is a Balloon Payment?

As a creative way to help buyers more easily afford new cars, some banks and finance companies offer loans with balloon payments. These are large, one-time, lump sum payments made at the end of the loan term. While these can make the loan more affordable, the large inflated payment can also leave many car buyers scrambling for another way to payoff the high amount.


While we make every effort to ensure the accuracy of the auto loan calculator tool, we are not liable for damages, whether monetary, incidental, consequential or otherwise in connection with its use. The calculator tool is not intended as a replacement for professional independent financial advice.