Automobile Finance Calculator to Calculate Vehicle Payment and Purchase Costs

Automobile Finance Calculator Sign

This car and truck loan calculator will calculate the monthly payment and total purchase costs you will end up paying between when you buy the vehicle and when you make the final payment.

The final car price includes tax, title, license, and loan fees and the loan size and monthly payment are based on any trade in and down payment amounts.

The car and truck finance calculator also allows you to compare the total cost when including the taxes and fees in the loan, versus excluding them from the loan.

Plus, unlike other auto finance calculators, the calculator in this web-app will also calculate if and for how long you might be upside down in the car loan.

Finally, the calculated results also include a printer-friendly car payment amortization schedule.

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Automobile Finance Calculator

Calculate the final car price, monthly payment, and total finance cost, plus see how long you will be "upside down" in the loan.

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
PriceAuto priceNegotiated automobile priceNegotiated automobile price ($):

Negotiated automobile price:

Enter the final purchase price of the vehicle you are considering buying. Be sure to include the price of all added options.

Sales tax rate:

Enter the total of all applicable sales tax rates (state, local, etc.) Enter as a percentage but without the percent sign (for .07 or 7%, enter 7). Tap the description to place a checkmark in the box if you would like the sales tax included in the amount to be financed (not recommended).

Add UpAdd UpAdd Up FeesAdd Up Fees
Loan admin:
Documentation:
GAP insurance:
Title & registration:
Delivery:
Other:
Total:

Title, transfer, loan fees, etc.:

Enter the total of all other upfront fees that will be due at signing (title, transfer, loan fees, license, etc.). Tap the description to place a checkmark in the box if you would like the upfront fees included in the amount to be financed (not recommended).

If would like the calculator to total up your various upfront fees, tap the plus (+) icon in this row to expand the form so you can enter your individual fees.

Trade-inTrade-in allowTrade-in allowanceTrade-in allowance ($):

Trade-in allowance:

Enter the amount the dealer will be taking off the price of the car in exchange for trading in your previously owned vehicle. If no trade-in will occur, either leave blank or enter a zero.

Down pmtDown paymentDown paymentDown payment ($):

Down payment:

Enter the amount of your down payment. The more you can pay down on the vehicle the less you have to pay in finance charges, and the less likely you will find yourself upside down in the car loan (car is worth less than you owe on it). If no down payment will be made, either leave blank or enter a zero.

PaymentsPaymentsNumber of monthly paymentsNumber of monthly payments (#):

Number of monthly payments:

Enter the number of monthly payments you plan to make before the automobile loan is paid off.

Loan rateInterest rateInterest rate percentageInterest rate percentage (%):

Interest rate percentage:

Enter the annual interest rate of the vehicle loan. Enter as a percentage but without the percent sign (for .07 or 7%, enter 7).

Schedule?Incl schedule?Include amortization schedule?Include amortization schedule?

Include amortization schedule?

If you would like the results to include an amortization schedule, select either "Monthly" or "Annual" from the drop-down menu. Otherwise select "None".

Car price:Auto price:Automobile price:Automobile price:

Automobile price:

This is the final purchase price of the car as entered in the top portion of the calculator.

Sale tax :Sales tax :Sales tax :Sales tax :

Sales tax:

Based on the entered price, down payment, and sales tax rate, this is the total amount of the sales tax that will be due at signing. The note in the parenthesis will indicate whether or not the sales tax is included the amount to be financed.

Fees :Upfront fees :Upfront Fees :Upfront Fees :

Upfront Fees:

This is the total of the upfront fees as entered in the top of the calculator. The note in the parenthesis will indicate whether or not the fees are included the amount to be financed.

Trade-in:Trade-in allow:Trade-in allowance:Trade-in allowance:

Trade-in allowance:

This is the trade-in allowance as entered in the top section of the calculator. The trade-in allowance is deducted from the purchase price when figuring the amount to be financed.

Down pmt:Down payment:Down payment:Down payment:

Down payment:

This is the down payment as entered in the top section of the calculator. The down payment is deducted from the purchase price when figuring the amount to be financed.

Finance:Finance amount:Total amount to finance:Total amount to finance:

Total amount to finance:

This is the total price plus any included upfront taxes and/or fees, minus any trade-in allowance and/or down payment.

Interest:Interest cost:Total interest cost:Total interest cost:

Total interest cost:

Based on the amount to be financed, the interest rate, and the number of payments, this is how much interest you will end up paying by the time you make your final payment.

Total pmts:Total of payments:Total of monthly payments:Total of principal and interest payments:

Total of principal and interest payments:

This is the total of all of your monthly payments (principal and interest).

Purchase:Total purchase:Total purchase costs:Total purchase costs:

Total purchase costs:

This is your total cost to purchase the car, which includes the price, interest cost, sales tax, and upfront fees.

Sign cash:Cash at signing:Cash needed at signing:Cash needed at signing:

Cash needed at signing:

This is the total of your down payment and any upfront taxes and/or fees you chose not to include in the amount to be financed.

Payment:Monthly payment:Monthly payment:Monthly principal and interest payment:

Monthly payment:

Based on the amount to be financed, the interest rate, and the number of payments, this is how much your monthly car payment will be.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Help and Tools

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Upside Down Loans

What Are "Upside Down Car Loans?"

If you are upside down in a car loan, it means that at that given point in the loan repayment your automobile is worth less than what you owe on it.

In other words, if you sell your vehicle at a point when you are upside down in the car loan, you would have to come up the cash to pay the difference between what the car sold for and what you still owe on the car. Otherwise the auto finance company won't clear the title so you can legally sell the automobile.

What Causes an Upside Down Loan?

The first thing you need to be aware of when purchasing a car is that cars depreciate (drop in value) faster when they are new than when they are used (see the Car Depreciation Calculator).

For example, if you buy a new car you can expect it to drop in value by as much as 40% in the first two years of ownership (up to 20% of which occurs the moment you sign the papers!).

On the other hand, if you buy a used car that is two years old, it may only depreciate by 20% in the first two years of ownership. If you buy a used car that is ten years old, it may only depreciate by 5% in the first two years of ownership.

Now, what really gets people into trouble is when they purchase a new car with little or no down payment. This is because the moment the buyer signs the papers the new car value drops by as much as 20%, while the freshly crafted car loan balance is equal to 100% of the new car's price (or more if you wrap sales taxes and fees into the loan).

Finally, because the average person fails to budget and account for all of the costs of buying and owning an automobile (see the Car Buying Calculator), or because their income takes an unexpected drop, many people suddenly find themselves unable to afford the new car they purchased. But, because they are upside down in the car loan they can't just sell the automobile to get rid of the expenses they can't afford.

You know what happens then, don't you? Well, first the auto finance company repossesses the automobile. Second, the owner is still responsible for the difference between what the automobile is worth and the amount of their loan. And third, because their credit rating took a big hit from the repossession, the next time the consumer goes to buy an automobile they will be forced to pay a painfully high interest rate.

As usual, the buyer's loss becomes the auto finance company's gain.

Reality Checks

Before you sign on the dotted line, visit the used car section of the dealer lot and locate a 3-5 year-old version of the new car you are considering buying.

Take a good look at the car and ask yourself if you will still be happy to be making the new car monthly payment once the new car turns into the used car you are looking at.

If your answer is "no," you might consider buying the used version of new car and spending some time thinking about how you might invest the thousands of dollars you will be saving (30% to 60% of the price of the new car!).

If you're still not moved to reconsider buying a new car instead of a used car, visit the local auto salvage yard and while looking out over the vast array of junked automobiles, ask yourself how many people bought those cars "new" because they thought the shiny new cars would make them happier.

Finally, if you do decide to buy a new car instead of a used, plan to own the car for at least 10 years in order to get your money's worth. And be sure to continue making your monthly car payment to yourself ("next car" savings account) once the car is paid off. That way you may be able to pay cash for your next car and save yourself thousands of dollars in interest charges.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.