/ Calculators / Car Finance Calculator
Basic Vehicle Finance Calculator
Elements of the Calculator
Currency
The calculator uses $ sign to indicate the value displayed is currency and not a percentage. The sign does not impact the calculation in this case, the answer will be the same regardless if you use Euro or Sterling etc.
Estimated Monthly Payment
This shows you how much you will be paying per month, which includes principal repayment and interest.
Interest
Interest is the total currency amount the credit will cost you, how much are you paying in total for the loan.
Taxes Estimated Total Cost
The amount presented for taxes reflects the dollar amount of tax based on the Vehicle Price and Tax Rate chosen. Basically, a percentage of the Vehicle Price amount you enter later – Sales Tax. You need to beware, depending where you live, additional taxes might apply.
The Estimated Total Cost
This is the total amount you pay over the lifetime of the loan. It is summing up Amount Financed, Finance Charge and Taxes and any cash down payment and/or net trade-in amount you set in the calculator.
Vehicle Price
The Manufacturer Suggested Retail Price (MSRP) or “sticker price” is the recommended selling price for the vehicle. The Dealer may adjust the actual selling price, either higher or lower it is always worth trying to negotiate for a better price. The MSRP excludes transportation and handling charges, destination charges, taxes, title, registration, preparation and documentary fees, tags, labour and installation charges, insurance, optional equipment or packages and accessories. You can ask the dealer for the total cost commonly referred to as on the road cost.
Cash Down Payment
The Down Payment is an up-front cash payment made when you purchase the vehicle that reduces the amount financed. This calculator uses a default cash down payment of 20% of MSRP. It is recommended to ask you financing company how much they recommend for a down payment, as it might reduce your financing costs.
Trade-In Value
The Trade-In Value is the value of your trade-in vehicle, if you are trading in a vehicle. The dealer will determine the amount you receive for your trade-in vehicle, do not just take first offer. It is worthwhile to shop around, you might be better off selling the car yourself. In other cases, dealers are running special offers and you might get a better offer trading in.
Tax Rate
The sales tax rate provided is for illustrative purposes only. This calculator uses a default tax rate of 0%. If you know the sales tax rate for your location, please enter it in the field provided. Note additional taxes might apply, ask your dealer about your situation.
Term
Term represents the repayment period in months for the amount financed. This app uses a default term of 60 months. You can choose any amount between 12 and 84 months.
Annual Percentage Rate (APR)
APR is the Annual Percentage Rate. Actual APR is based on your creditworthiness. Not everyone will qualify for the lowest rate, this mostly determined by your credit score.
Basic Car Finance Calculator
1550 Interest is the dollar amount the credit will cost you. 0
The amount presented for taxes reflects the dollar amount of tax
based on the MSRP and Tax Rate shown.
31,550
The Estimated Total Cost is a summation of the
Amount Financed, Finance Charge and Taxes and any cash
down payment and/or net trade-in amount.
The Manufacturer Suggested Retail Price (MSRP) or “sticker price”
is the recommended selling price for the vehicle. The Dealer may adjust
the actual selling price, either higher or lower. The MSRP excludes
transportation and handling charges, destination charges, taxes, title,
registration, preparation and documentary fees, tags, labor and installation
charges, insurance, optional equipment or packages and accessories.
The Down Payment is an up-front cash payment
made when you purchase the vehicle that reduces
the amount financed. This app uses a default cash down payment of
20% of MSRP.
The Trade-In Value is the value of your trade-in vehicle.
The dealer will determine the amount you actually receive for your
trade-in vehicle.
The sales tax rate provided is for sample purposes only.
This app uses a default tax rate of 0%.
If you know the sales tax rate for your location,
please enter it in the field provided.
Term represents the repayment period in months for
the amount financed. This app uses a default term of 60 months.
APR is the Annual Percentage Rate. Actual APR is based on
the creditworthiness of the customer. Not all customers
will qualify for the lowest rate.
Interest
Interest
Taxes
Taxes
Estimated Total Cost
(including taxes and interest)
Estimated Total Cost
Vehicle Price
Vehicle Price
Cash Down Payment
Cash Down Payment
Trade-In Value
Trade-In Value
Tax Rate
Tax Rate
Term
Term
APR
APR
Numerical values are not an advertisement or offer for specific terms of credit. Payment amounts presented are estimates and are for illustrative purposes only. Actual vehicle price may vary by Dealer. The MSRP excludes transportation and handling charges, destination charges, taxes, title, registration, preparation and documentary fees, tags, labor and installation charges, insurance, optional products, equipment or packages and accessories.
Lease Transactions:
The amount due at lease signing is the amount to be paid by the lessee prior to or at signing of the lease or by delivery of the vehicle. It includes the first month’s payment, any acquisition fee, down payment, less any net trade-in amount. The Estimated Monthly Lease Payment shown is based on a 36 month term, down payment of $3,000, annual mileage allowance of 12,000 miles, a 0.001 money factor, a tax rate of 0.0%, and a $0 net trade-in. A security deposit may be required depending on creditworthiness.
If you change the Down Payment or Term or Annual Mileage allowance, or if you trade in your current vehicle, the Estimated Monthly Payment will change.
The payment amount does not include title, license or registration fees. Payment amounts may be different due to various factors such as fees, specials, rebates, term, down payment, trade-in, applicable tax rate, and creditworthiness of the customer. Please contact your selected dealer or lender for program details and actual terms.
Finance Transactions:
The Estimated Monthly Payment is based on a 60 month term, a down payment of $6,000, Annual Percentage Rate (APR) of 2.49%, a tax rate of 0.0%, and a $0 net trade-in. If you change the Down Payment or Term, or if you trade in your current vehicle, the Estimated Monthly Payment will change.
The payment amount does not include title, license or registration fees. Payment amounts may be different due to various factors such as fees, specials, rebates, term, down payment, APR, trade-in, and applicable tax rate. The APR presented may not be the lowest rate available. Actual APR is based on the creditworthiness of the customer. Not all customers will qualify for the lowest rate. Please contact your selected dealer or lender for actual rates, program details and actual terms.
