Auto Payment Comparison Calculator

Help me compare auto loans with different terms.

Calculate and compare (formatted side by side) the payment amounts for up to 4 auto loans. Use this calculator to help compare interest rates or see the effect of putting more money as a down payment. This calculator is also good for comparing lower-interest deals with cash back offers. (“Should I take the cash rebate and get a loan with a higher interest rate?”) You can also see quickly what happens if you apply your trade-in and/or dealer rebate to the down payment or pocket it for something else.

Field Help

Input Fields

Title: A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.

Lender: The name of your potential lender. This field is not required but may help if you have printed out several loan scenarios.

Vehicle Price: The sticker price or negotiated price of the vehicle you would like to purchase.

Sales Tax: The sales tax percentage you will pay on this purchase.

Other Financed Charges: Sticker price add-on charges to be financed with your auto loan. These may include license plates, vehicle registration, luxury tax, extended warranty policy, dealer prep charges, or destination charges, etc.

Cash Down Payment: Any cash amount you plan to apply as a down payment to reduce your loan or lease amount.

Trade-In Value: Any vehicle trade-in amount you plan to apply as a down payment to reduce your loan or lease amount.

Dealer Rebate: Any dealer (or manufacturer) rebate or matching down payment amount you plan to apply as a down payment to reduce your loan or lease amount.

Interest Rate: The annual percentage rate you will pay for this loan.

Length of Loan: How long you will pay on this loan. Also choose whether ‘Length of Loan’ is years or months.

Additional Principal: The additional amount you will pay each month (over the required ‘Monthly Payment’ amount) to pay down the principal on your loan.

Output Fields

Total Vehicle Price: The total vehicle price once ‘Sales Tax Amount’ and ‘Other Financed Charges’ are added.

Total Down Payments: The total down payment amount you plan to apply to your purchase to reduce the loan amount.

Monthly Payment: Principal + Interest + Additional Principal (where applicable) to be paid each month.

Loan Amount: Your total auto loan amount once ‘Sales Tax’ and ‘Other Financed Charges’ are added and ‘Total Down Payments’ is subtracted.

Total Interest: Total amount of interest you will pay over ‘Length of Loan’.

Total Paid: Total amount of principal + interest you will pay over ‘Length of Loan’.

Payoff Time: Amount of time until the loan is paid off.

Number of Payments: The number of payments you will make to pay off the loan.

Annual Cost: The amount of money you will pay each year for this loan.

Sales Tax Amount: The amount of sales tax you will pay on this purchase.

3 thoughts on “Auto Payment Comparison Calculator”

  1. Those calculators do have serious flaws!!!
    In most states sales tax is calculated on the DIFFRENCE between new car price and trade!!! You have ignored this!!
    In most cases dealer rebates are TAXABLE!!! You ignore this as well… sorry!

    Reply

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