Auto Affordability Calculator

Definitions

• Calculate for: Choose what you would like to calculate. You can choose to calculate the payment or the purchase price.
• Monthly payment: The amount you pay each month for your auto financing.
• Total purchase price (before tax): This is the total cost of your auto purchase. Include the cost of the vehicle, additional options and destination charges. This amount does not include sales tax. Sales tax will be calculated for you and included in your total after-tax price.
• Term in months: Number of months the loan will be in effect.
• Interest rate: Annual interest rate for this loan.
• Rebates and cash down: Total amount of cash and/or factory rebates applied to the purchase. The larger your cash down payment the smaller the loan you will need to finance this purchase.
• Trade allowance: The total amount that you are given for any automobile that you trade-in as part of the purchase. In some states a trade-in can also reduce the amount of sales tax you will owe. See the definition for "No sales tax deduction for trade-in" for more information on trade-in vehicles and sales tax.
• Amount owed on trade: Total loan balance still outstanding on the trade-in.
• Non-taxable fees (optional): Any additional fee that is not subject to sales tax. This usually includes document fees or any other fees that may be due at delivery and are not taxable.
• Taxable fees (optional): Any additional fee that is subject to sales tax. This usually includes title transfer fees or any other fees that may be due at delivery and are taxable.
• Sales tax rate: Sales tax percentage rate charged on this purchase.
• No sales tax deduction for trade-in: If you live in a state where your sales tax is calculated on your full purchase price, check this box in the calculator. If this box is unchecked, sales tax is calculated on the purchase price, less trade-in. Currently the District of Columbia, California, Hawaii, Maryland, Kentucky, Michigan and Virginia allow no deductions for trade-ins when calculating sales tax. In addition, Alaska, Delaware, Montana and New Hampshire have no sales tax on auto purchases. Oregon currently only collects tax on new vehicles.

This calculator is for illustrative purposes only. The information shown is designed to provide basic information based upon your input and assumptions.

Membership and credit qualifications apply. A valid driver's license and current insurance information are required at time of financing. Standard passenger vehicles only, no commercial vehicles or vehicles for hire will be considered. No Lemon Law buybacks or grey/salvage titles. Vehicles for commercial use or used to transport passengers for compensation, including but not limited to vehicles used as taxicabs or for ride-sharing, are not eligible. Other restrictions may apply.