Total purchase price (before tax) – Total cost of your auto purchase before sales tax. Include the cost of the vehicle and charges for additional options and delivery fees.
Term in months – Number of months for your auto loan.
Cash down – Total cash payment used in the purchase.
Trade allowance – Total amount you would receive for any vehicle that you trade-in as part of the purchase.
Amount owed on trade – Loan balance still outstanding on the trade-in.
Sales tax rate – The applicable sales tax on the purchase.
Traditional financing – The interest rate you may be able to receive from a lender. This is typically higher than the manufacturer’s low interest financing, but may be competitive when used in conjunction with a manufacturer rebate. If you opt for a manufacturer rebate, this calculator assumes that you do not qualify for low interest financing.
Low interest financing – Usually below standard auto loan interest rates, this is the interest rate you may be able to receive from an auto manufacturer. Since most manufacturers only allow you to choose between low interest financing and manufacturer rebates, this calculator assumes that you do not qualify for a rebate if you select low interest financing.
No sales tax deduction for trade-in – Check this box only if you live in a state where your sales tax is calculated on your full purchase price.
Calculate sales tax before rebate – Check this box only if your state calculates sales tax on the car before a manufacturer’s rebate is applied.