Car Loan Payment Calculator

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Car Price ($): Sales Tax (%): Down Payment ($): Trade-In Value ($): Loan Term: Interest Rate (%):

Enter the Car Price: Input the total cost of the car before taxes and any deductions.
Sales Tax: Enter the sales tax percentage that applies to your purchase.
Down Payment: Input the amount you plan to pay upfront as a down payment.
Trade-In Value: If you’re trading in your old vehicle, input its value here.
Loan Term: Enter the duration of the loan. You can select whether this term is in months or years.
Interest Rate: Enter the interest rate your lender is charging on the loan.
Calculate: Press the “Calculate” button to see your monthly payment and the actual loan amount.

Actual Loan Amount = (Car Price + Sales Tax Amount) – Down Payment – Trade-In Value
Monthly Payment = $\frac{{\text{Actual Loan Amount} \times \text{Monthly Interest Rate}}}{{1 – (1 + \text{Monthly Interest Rate})^{-\text{Loan Term}}}}$