Auto Loan, Advanced Calculator
Loan
Sales Price =
Sales Tax = 0
Fees = 0
Other Costs = 0
Down Payment = 0
Trade In = 0
Taxable Trade-In? = 1
Rebates = 0
Balloon = 0
Interest/Year =
Term = 60
Payment =
Summary/Analysis
Total Price =
Loan Amount =
Total Loan Cost =
Amortization
Begin Period = 1
End Period = 1
Interest Paid =
Principal Paid =
Payment Paid =
End Balance =
Amortization Table =
Help
Calculates auto loans and loan amortizations.
Rows
Loan
- Sales Price: Price of the automobile.
- Sales Tax: Percent of sales price paid for sales tax.
- Fees: Amount paid in fees.
- Other Costs: Other costs not included above.
- Down Payment: Amount paid for a down payment.
- Trade In: Value of any trade-ins.
- Taxable Trade-In?: If the value of the trade-in is included (Yes) or excluded (No) from the sales tax calculation. See below for details.
- Rebates: Amount of any rebates.
- Balloon: Balloon payment amount or 0 if no end-of-loan balloon payment.
- Interest/Year: Interest per year expressed as a percentage.
- Term: Number of years or months for the loan.
- Payment: Total payment for the loan.
Summary/Analysis
- Total Price: Total price paid for the automobile.
- Loan Amount: Total amount of loan.
- Total Loan Cost: Total amount paid in principal and interest for the loan.
Amortization
- Begin Period: Starting period to calculate the amortization information.
- End Period: Ending period to calculate the amortization information.
- Interest Paid: Total interest paid over the amortization period.
- Principal Paid: Total principal paid over the amortization period.
- Payment Paid: Total payments made over the amortization period.
- End Balance: Balance at the end of the amortization period.
- Amortization Table: Select to display a table of amortization results. Pinch to zoom and see larger numbers. In addition, the amortization table is attached to any emails sent. (Available on iOS devices only.)
- Amortization Plot: plots ending balance, cumulative interest paid and interest paid for the period. Pan by dragging, zoom by pinching, or touch and hold to see data at that Interest Rate. Alternatively, select 'Eval' to evaluate at a specific period. (Available on iOS devices only.)
Sales Tax
In the US, most states exclude the value of a trade-in from sales tax calculations. Only California, Hawaii, Maryland and Michigan would answer Yes to Trade-In Taxable?. (Alaska, Delaware, Montana, New Hampshire and Oregon do not have sales tax on vehicle purchases.) Source: [ http://www.theautoevaluator.net/dealer_worksheet.html|Auto Evaluator ]
Examples
The local dealer has a $15,000 car for sale. If you could put down $1,500 and offer a $3,000 trade-in vehicle, what would be the payment on a 60 month loan? The company is offering 6% interest rate.
Sales Price: 15,000
Down Payment: 1,500
Trade In: 3,000
Taxable Trade-In?: Yes
Interest/Year: 6.0
Term: 60
Select "=" on Payment row. Your monthly auto payment would be $202.99.
Keywords
Sales Price
Sales Tax
Fees
Other Costs
Down Payment
Trade In
Taxable Trade-In?
Rebates
Balloon
Interest/Year
Term
Payment
Total Price
Loan Amount
Total Loan Cost
Begin Period
End Period
Interest Paid
Principal Paid
Payment Paid
End Balance
Amortization Table
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Trade In
Balloon Payment
Rebates
Amortization
