This Basic Loan calculator enables you to determine the estimated payment you should expect to pay when financing your next vehicle. Estimates are based on industry information. For greater accuracy, input the information provided by your dealer or lender wherever possible.
See our Explanation of Terms if you need help.
Our Financial Calculator Suite helps you choose the financing alternatives that are best for you. These tools help you determine which financing options are best for you, which incentives get you the best deal, and what monthly payments you can expect for either a loan or lease.
These tools help make complicated financial calculations simple. The information in pre-populated fields includes standard industry figures and can be adjusted by you to fit your situation.
Vehicle Sales Price
The price you pay for the vehicle before tax, title and registration.
Sales Tax
The state sales taxes levied on the Vehicle Sales Price. If you don't know your state's sales tax you can find out here.
In leasing transactions, some states compute applicable sales tax based on the vehicle sale price (with the value of any trade-in permitted as a deduction in some states), while other states assess sales tax only on the monthly payment. The Autobuying101.com Financial Calculators assume that sales tax is payable only on the monthly payment. Consult your local dealer for the method used in your state for vehicle leases.
Sales tax often includes a supplement levied by individual cities or counties, so you should adjust this amount accordingly. Note that the sales tax levied on your vehicle will be based on the state and locality in which the vehicle is registered, not necessarily where it is purchased.
Title and Registration
Fees and charges customarily charged, including vehicle title, state registration, dealer documentation, government fees, service contracts and any additional equipment not included in the Vehicle Sales Price.
Customer Cash Rebate
The amount offered by the manufacturer to encourage the lease/sale of selected vehicles. This is normally credited as a down payment against the Vehicle Sales Price.
Cash Down Payment
The amount of your down payment. For a vehicle lease, an initial payment that reduces the capitalized cost (i.e., the amount you finance) or that is applied to other amounts payable at lease signing.
My Trade-In Value
The value you expect to receive for your currently owned vehicle. Use sites like KBB.com or Edmunds.com to determine your expected value.
Amount Owed on Trade-In
The amount still owed on the current financing, if any, on your trade-in. When you trade your vehicle into a dealer, the dealer will normally pay off the loan balance to secure clear title. The difference between the trade-in value and the actual payoff on the trade is treated as a credit/debit against the Vehicle Sale Price.
Market Finance Rate (APR)
The cost of credit (i.e., the interest rate) expressed as an annual rate. [site-name] pre-populates this field with a standard rate that can be adjusted.
Loan Term (months)
The number of months of the term of your loan. [site-name] uses a default finance term of 60 months.
Lease Term
The number of months of the lease term. [site-name] uses a default lease term of 36 months.
Lease Residual Value
A vehicle leasing company's assumption of what a vehicle will be worth at the end of the lease, which is a factor used to determine the monthly lease payment. (The higher the residual value, the lower the monthly payment.)
Money Factor
Also referred to as a "lease factor" or "lease fee." An auto leasing industry term for expressing the interest rate used to calculate the monthly lease payment, and equal to the lease's APR divided by 2,400. (For example, an APR of 7.2% equals a money factor of 0.0033.) Autobuyin101 pre-populates this field with a standard rate that can be adjusted.
Acquisition Fee
For a vehicle lease, a fee charged by the leasing company at the inception of the lease that is intended to cover a variety of administrative costs, such as obtaining a credit report, verifying insurance coverage, checking the accuracy and completeness of the lease documentation, and entering the lease into its data and accounting systems. Also called a bank fee, an administrative fee or an assignment fee.
Security Deposit
A payment required at the inception of a vehicle lease to provide collateral to the leasing company for the lessee's promise to comply with the terms of the lease. Any unused amount is refunded to the lessee at the end of the lease term. Not all leases require a security deposit.
Low APR
A loan offered by the manufacturer's captive finance company at a below-market interest rate.
Your Target Monthly Payment
This is your desired monthly payment on your car loan.
Total Down Payment (with net trade-in)
This is your cash down payment plus any equity that you have in your trade-in. For example if your trade-in is worth $2,000, but you still owe $1,000 on your trade-in, you have $1,000 in equity in your trade-in.
Estimated Price Range
This is the estimated range of the sticker price (i.e., the MSRP) of the vehicles you should consider based on the information entered into the calculator. In calculating this range, we take into account that (i) you will also need to pay the destination charge and estimated sales tax, title and registration costs, and (ii) your actual purchase price for the vehicle will likely be less than its sticker price.