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This Auto Loan Calculator automatically adjusts the method used to calculate sales tax involving Trade-in Value based on the state provided. Using the values from the example above, if the new car was purchased in a state without a sales tax reduction for trade-ins, the sales tax would be: $50,000 × 8% = $4,000.
It’s total loan amount (including interest) divided by the loan term (number of months you have to repay the loan. For example, the total interest for a $30,000, 60-month loan at 7% would be ...
After that, it will calculate the compound interest, estimate tax and title fees, and display the monthly payment. This car loan calculator will help you visualize how changes to your interest ...
Auto Loan Calculator Dec 05, 2023 Use this auto loan calculator when comparing available rates to estimate what your car loan will really cost, minus additional fees that lenders may enforce.
This calculator uses the present value equation to calculate a monthly auto loan payment. First the calculator finds the interest rate as an equivalent monthly rate rather than the yearly rate that you input. Then the calculator solves the present value equation for payment, noted as PMT: P M T = P V i (1 + i) n (1 + i) n − 1.