Sales Price =

Sales Tax = 0

Fees = 0

Other Costs = 0

Down Payment = 0

Trade In = 0

Taxable Trade-In? = 1

Rebates = 0

Balloon = 0

Interest/Year =

Term = 60

Payment =

Total Price =

Loan Amount =

Total Loan Cost =

Begin Period = 1

End Period = 1

Interest Paid =

Principal Paid =

Payment Paid =

End Balance =

Amortization Table =

Calculates auto loans and loan amortizations.

Loan

- Sales Price: Price of the automobile.

- Sales Tax: Percent of sales price paid for sales tax.

- Fees: Amount paid in fees.

- Other Costs: Other costs not included above.

- Down Payment: Amount paid for a down payment.

- Trade In: Value of any trade-ins.

- Taxable Trade-In?: If the value of the trade-in is included (Yes) or excluded (No) from the sales tax calculation. See below for details.

- Rebates: Amount of any rebates.

- Balloon: Balloon payment amount or 0 if no end-of-loan balloon payment.

- Interest/Year: Interest per year expressed as a percentage.

- Term: Number of years or months for the loan.

- Payment: Total payment for the loan.

Summary/Analysis

- Total Price: Total price paid for the automobile.

- Loan Amount: Total amount of loan.

- Total Loan Cost: Total amount paid in principal and interest for the loan.

Amortization

- Begin Period: Starting period to calculate the amortization information.

- End Period: Ending period to calculate the amortization information.

- Interest Paid: Total interest paid over the amortization period.

- Principal Paid: Total principal paid over the amortization period.

- Payment Paid: Total payments made over the amortization period.

- End Balance: Balance at the end of the amortization period.

- Amortization Table: Select to display a table of amortization results. Pinch to zoom and see larger numbers. In addition, the amortization table is attached to any emails sent. (Available on iOS devices only.)

- Amortization Plot: plots ending balance, cumulative interest paid and interest paid for the period. Pan by dragging, zoom by pinching, or touch and hold to see data at that Interest Rate. Alternatively, select 'Eval' to evaluate at a specific period. (Available on iOS devices only.)

In the US, most states exclude the value of a trade-in from sales tax calculations. Only California, Hawaii, Maryland and Michigan would answer Yes to Trade-In Taxable?. (Alaska, Delaware, Montana, New Hampshire and Oregon do not have sales tax on vehicle purchases.) Source: [ http://www.theautoevaluator.net/dealer_worksheet.html|Auto Evaluator ]

The local dealer has a $15,000 car for sale. If you could put down $1,500 and offer a $3,000 trade-in vehicle, what would be the payment on a 60 month loan? The company is offering 6% interest rate.

Sales Price: 15,000

Down Payment: 1,500

Trade In: 3,000

Taxable Trade-In?: Yes

Interest/Year: 6.0

Term: 60

Select "=" on Payment row. Your monthly auto payment would be $202.99.

Sales Price

Sales Tax

Fees

Other Costs

Down Payment

Trade In

Taxable Trade-In?

Rebates

Balloon

Interest/Year

Term

Payment

Total Price

Loan Amount

Total Loan Cost

Begin Period

End Period

Interest Paid

Principal Paid

Payment Paid

End Balance

Amortization Table

-------------

Trade In

Balloon Payment

Rebates

Amortization