Vehicle & Loan Details
Your Auto Loan Summary
Monthly payment = Financed × r × (1+r)n / ((1+r)n - 1), where r = monthly interest rate, n = number of months.
Why Include Taxes and Fees in Your Auto Loan?
Sales tax, registration, and dealer fees can add thousands to your total vehicle cost. Financing these expenses increases your loan amount and monthly payment. This calculator helps you see the full picture so you can budget accurately and avoid surprises.
Tip: A larger down payment reduces your financed amount, saving you interest over time. Use the sliders to find a payment that fits your budget.
Frequently Asked Questions About Auto Loans with Tax & Fees
How do taxes and fees affect my auto loan?
Sales tax, registration, and dealer fees are typically added to the total vehicle cost, increasing the amount you need to finance. This calculator includes them to give you a realistic monthly payment.
What fees should I include in an auto loan?
Common fees include sales tax, registration/title fees, dealer documentation fees, and any optional add-ons like extended warranty or gap insurance. Enter them in the 'Additional Fees' field.
Should I include sales tax in my loan amount?
Most people finance sales tax as part of the auto loan. This calculator automatically adds tax based on the vehicle price and your local tax rate, unless you choose to pay it separately.
What is a good down payment for a car?
A down payment of 10-20% is recommended to avoid being upside down on the loan. A larger down payment reduces your monthly payment and total interest.
How is the monthly auto loan payment calculated?
We use the standard amortization formula: M = P × r × (1+r)^n / ((1+r)^n - 1), where P is the financed amount (price + tax + fees - down payment), r is monthly interest rate, and n is number of payments.
Does this calculator include trade-in value?
Currently, trade-in value is not a separate field. You can reduce the down payment amount to reflect any trade-in equity.