Auto loan
Auto loan: use vehicle price, down payment, net trade-in credit. Review the formula, worked example and calculation steps.
Inputs
Use the units shownEnter your values and select Calculate.
Formula & explanation
Variables & units
- Vehicle price
- currency · minimum 0, maximum 1000000000000
- Down payment
- currency · minimum 0, maximum 1000000000000
- Net trade-in credit
- currency · minimum 0, maximum 1000000000000
- Financed tax and fees
- currency · minimum 0, maximum 1000000000000
- Nominal annual interest rate
- % · minimum 0, maximum 100
- Number of monthly payments
- months · minimum 1, maximum 600
Worked example
25,000 price plus 1,000 fees, minus 5,000 down and 2,000 trade, finances 19,000.
Assumptions
Fixed nominal annual rate divided by 12; equal end-of-month payments. Excludes fees, insurance, taxes, variable rates and lender rounding. Enter the trade credit after any existing vehicle debt; enter taxes explicitly as financed fees.
Formula version 1.0.0. JavaScript floating-point arithmetic applies. Results display up to 6 decimal places; stored values retain available precision. Use the units shown.
Practice with an example
Use the default input values to find the answer. The reset icon restores those values.
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