Auto Payoff Calculator

Formatting only. This does not change the calculation.
Negative equity is rolled into the new loan.
State-branded variants pre-fill the state base rate on vehicle purchases as a starting point. Counties and cities frequently add to it, and several states use a separate vehicle excise or title tax instead, so confirm the rate for your address.
Applied after tax, reducing the amount financed.
The nominal annual rate (APR before fees), not the monthly rate.
Added to the term in years, for terms such as 5 years and 6 months. To state a tenure purely in months, set the years to 0 and enter the whole tenure here.
Additional principal paid on top of the scheduled payment.
Payment
601.14
Auto Loan Calculator
Total interest
5,018.58
Total of payments
35,018.58
Number of payments
50
Payoff time
4.167 years
Rate per period
0.625 %
Interest per unit borrowed
0.1673
Interest saved by extra payments
1,049.72
Payments saved
10
Amount financed
30,000
Sales tax
0
Trade-in equity applied
0
Total cost of the vehicle
40,018.58
Cash needed at signing
5,000
Worked out from Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 2 other sources.

How this is worked out

4 steps
  1. Taxable amount = price minus trade-in = 35000
  2. Sales tax at 0% = 0
  3. Amount financed = price 35000 + tax 0 + fees 0 - rebate 0 - down 5000 - trade equity 0 = 30000
  4. Payment on 30000 at 7.5% = 601.14
Amortisation scheduletable
periodpaymentinterestprincipalbalance
1701.14187.5513.6429,486.36
2701.14184.29516.8528,969.51
3701.14181.06520.0828,449.43
4701.14177.81523.3327,926.1
5701.14174.54526.627,399.5
6701.14171.25529.8926,869.61
7701.14167.94533.226,336.41
8701.14164.6536.5425,799.87
9701.14161.25539.8925,259.98
10701.14157.87543.2724,716.71
11701.14154.48546.6624,170.05
12701.14151.06550.0823,619.97
13701.14147.62553.5223,066.45
14701.14144.17556.9722,509.48
15701.14140.68560.4621,949.02
16701.14137.18563.9621,385.06
17701.14133.66567.4820,817.58
18701.14130.11571.0320,246.55
19701.14126.54574.619,671.95
20701.14122.95578.1919,093.76
21701.14119.34581.818,511.96
22701.14115.7585.4417,926.52
23701.14112.04589.117,337.42
24701.14108.36592.7816,744.64
25701.14104.65596.4916,148.15
26701.14100.93600.2115,547.94
27701.1497.17603.9714,943.97
28701.1493.4607.7414,336.23
29701.1489.6611.5413,724.69
30701.1485.78615.3613,109.33
31701.1481.93619.2112,490.12
32701.1478.06623.0811,867.04
33701.1474.17626.9711,240.07
34701.1470.25630.8910,609.18
35701.1466.31634.839,974.35
36701.1462.34638.89,335.55
37701.1458.35642.798,692.76
38701.1454.33646.818,045.95
39701.1450.29650.857,395.1
40701.1446.22654.926,740.18
41701.1442.13659.016,081.17
42701.1438.01663.135,418.04
43701.1433.86667.284,750.76
44701.1429.69671.454,079.31
45701.1425.5675.643,403.67
46701.1421.27679.872,723.8
47701.1417.02684.122,039.68
48701.1412.75688.391,351.29
49701.148.45692.69658.6
50662.724.12658.60
Yearly summarytable
yearinterestprincipalendingBalance
12,033.656,380.0323,619.97
21,538.356,875.3316,744.64
31,004.597,409.099,335.55
4429.427,984.261,351.29
512.571,351.290

Results are general information, not financial, tax, legal, medical or engineering advice.