Car Used Loan Calculator

Display currencyFormatting only. This does not change the calculation.

Vehicle price

Cash down payment

Trade-in value

Balance still owed on the trade-in Negative equity is rolled into the new loan.

Sales tax rate (%)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.

Trade-in reduces the taxable amount

Title, registration and dealer fees

Manufacturer rebate Applied after tax, reducing the amount financed.

Annual interest rate (%)The nominal annual rate (APR before fees), not the monthly rate.

Loan term (years)

Term - additional monthsAdded 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.

Payment frequency

Extra payment each period Additional principal paid on top of the scheduled payment.

Include the amortisation schedule

Payment

422.24

Auto Loan Calculator

Total interest

3,267.47

Total of payments

20,267.47

Number of payments

Payoff time

4 years

Rate per period

0.741667 %

Interest per unit borrowed

0.1922

Interest saved by extra payments

Payments saved

Amount financed

17,000

Sales tax

Trade-in equity applied

Total cost of the vehicle

25,267.47

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

Taxable amount = price minus trade-in = 22000
Sales tax at 0% = 0
Amount financed = price 22000 + tax 0 + fees 0 - rebate 0 - down 5000 - trade equity 0 = 17000
Payment on 17000 at 8.9% = 422.24

Amortisation scheduletable

period	payment	interest	principal	balance
1	422.24	126.08	296.16	16,703.84
2	422.24	123.89	298.35	16,405.49
3	422.24	121.67	300.57	16,104.92
4	422.24	119.44	302.8	15,802.12
5	422.24	117.2	305.04	15,497.08
6	422.24	114.94	307.3	15,189.78
7	422.24	112.66	309.58	14,880.2
8	422.24	110.36	311.88	14,568.32
9	422.24	108.05	314.19	14,254.13
10	422.24	105.72	316.52	13,937.61
11	422.24	103.37	318.87	13,618.74
12	422.24	101.01	321.23	13,297.51
13	422.24	98.62	323.62	12,973.89
14	422.24	96.22	326.02	12,647.87
15	422.24	93.81	328.43	12,319.44
16	422.24	91.37	330.87	11,988.57
17	422.24	88.92	333.32	11,655.25
18	422.24	86.44	335.8	11,319.45
19	422.24	83.95	338.29	10,981.16
20	422.24	81.44	340.8	10,640.36
21	422.24	78.92	343.32	10,297.04
22	422.24	76.37	345.87	9,951.17
23	422.24	73.8	348.44	9,602.73
24	422.24	71.22	351.02	9,251.71
25	422.24	68.62	353.62	8,898.09
26	422.24	65.99	356.25	8,541.84
27	422.24	63.35	358.89	8,182.95
28	422.24	60.69	361.55	7,821.4
29	422.24	58.01	364.23	7,457.17
30	422.24	55.31	366.93	7,090.24
31	422.24	52.59	369.65	6,720.59
32	422.24	49.84	372.4	6,348.19
33	422.24	47.08	375.16	5,973.03
34	422.24	44.3	377.94	5,595.09
35	422.24	41.5	380.74	5,214.35
36	422.24	38.67	383.57	4,830.78
37	422.24	35.83	386.41	4,444.37
38	422.24	32.96	389.28	4,055.09
39	422.24	30.08	392.16	3,662.93
40	422.24	27.17	395.07	3,267.86
41	422.24	24.24	398	2,869.86
42	422.24	21.28	400.96	2,468.9
43	422.24	18.31	403.93	2,064.97
44	422.24	15.32	406.92	1,658.05
45	422.24	12.3	409.94	1,248.11
46	422.24	9.26	412.98	835.13
47	422.24	6.19	416.05	419.08
48	422.19	3.11	419.08	0

Yearly summarytable

year	interest	principal	endingBalance
1	1,364.39	3,702.49	13,297.51
2	1,021.08	4,045.8	9,251.71
3	645.95	4,420.93	4,830.78
4	236.05	4,830.78	0

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