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Auto Affordability Calculator

Maximum Monthly Payment
Sales Tax%
Other Financed Charges
Cash Down Payment
Trade-In Value
Dealer Rebate
Total Down Payments$4,000.00
Interest Rate%
Length of Loan

Maximum Vehicle Price$24,808.69
Loan Amount$22,780.14

Sales Tax Amount$1,271.45
Number of Payments60
Annual Cost$5,400.00


All calculators are made available as self-help tools for your independent use with results based on information provided by the user. All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Loan calculators are not intended to provide financial advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. Users are advised to seek personalized advice from qualified professionals regarding all personal finance issues.
 
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A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
The maximum auto loan payment you can make each month.
The sales tax percentage you will pay on this purchase.
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.
Any cash amount you plan to apply as a down payment to reduce your loan or lease amount.
Any vehicle trade-in amount you plan to apply as a down payment to reduce your loan or lease amount.
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.
The total down payment amount you plan to apply to your purchase to reduce the loan amount.
The annual percentage rate you will pay for this loan.
How long you will pay on this loan. Also choose whether 'Length of Loan' is years or months.
You should be looking at vehicles priced this amount or less to keep payments at or below 'Maximum Monthly Payment'.
Your total auto loan amount once 'Sales Tax' and 'Other Financed Charges' are added and 'Total Down Payments' is subtracted.
The amount of sales tax you will pay on this purchase.
The number of payments you will make to pay off the loan.
The amount of money you will pay each year for this loan.
Cash Down Payment + Trade-In + Dealer Rebate
$4,000.00 = $1,000.00 + $2,500.00 + $500.00
(Loan Amount + Total Down Payments - Other Charges) / (1 + Sales Tax Percent)
$24,808.69 = $22,780.14 + $4,000.00 - $700.00) / (1 + 5.1250%)
Payment * (1 - (1 + (Rate / 12))-Months) / (Rate / 12)
$22,780.14 = $450.00 * (1 - (1 + (0.0690 / 12))-60 / (0.0690 / 12)
Maximum Vehicle Price * Sales Tax Percent
$1,271.45 = $24,808.69 * 5.1250%
Length of Loan in Months
60
Monthly Payment * 12
$5,400.00 = $450.00 * 12

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