Does a trade-in reduce the amount I finance?

Yes — a trade-in's value is subtracted from the vehicle price before the loan amount, and in most states it also lowers the sales tax owed, since tax is charged on price minus trade-in rather than the full price.

Why does a longer loan term cost more even at the same rate?

A longer term lowers the monthly payment but keeps a larger balance outstanding for longer, so more total interest accrues against it — this calculator's amortization schedule and total-interest figure make that trade explicit rather than leaving only the payment visible.

Should I finance the sales tax and fees into the loan?

You can, but it means paying interest on your tax bill for the life of the loan. Enter it as part of the financed amount here to see exactly what that costs versus paying it up front.

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A dealer's advertised payment is easy to hit any target on by stretching the term, which is exactly why the payment alone is the wrong number to shop on. This works from the vehicle price, down payment, trade-in value, and your state's sales tax to the actual loan amount, then the payment, total interest, and a full amortization schedule — so the term's real cost is visible before you sign.

Results

Enter a vehicle price to get started.

Vehicle

Vehicle price

Down payment

Trade-in value

Sales tax rate

Loan

How this is calculated

For educational purposes only. Results are estimates and do not constitute financial, tax, or legal advice. Consult a qualified professional before making any financial decisions.

How to use it

Enter the vehicle price, then whatever you're putting down and trading in. Most states tax the price minus the trade-in, so both change the number the dealer actually finances.

Pick a loan term and your rate, and the payment, total interest, and full amortization schedule update immediately — there's no Calculate button to press.

Try the same numbers at 60 and 72 months. The payment drops, but watch how much more interest accrues against a balance held for a year longer.

Assumptions

Sales tax is calculated on the vehicle price minus the trade-in value, which is how most states tax a trade-in — some states tax the full price instead, so check your state's rule if the figure matters.
The loan amount assumes tax is financed along with the vehicle, not paid separately at signing. If you plan to pay tax and fees out of pocket, subtract that amount from the loan amount shown.
Doesn't include title, registration, or dealer fees, which vary by state and dealership and are commonly rolled into the amount financed.
Assumes a single fixed rate for the full term, with no early payoff or extra payments.

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