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Calculators/Loans & Debt
Auto Loan Calculator
Calculate your car payment with taxes, down payment, and trade-in — and see exactly what the loan costs.
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Loan Summary
Net Loan Amount$29,822.40
Monthly Payment$597.58
Total Paid$35,854.78
Total Interest$6,032.38
Monthly Car Payment
$597.58
Loan Amount
$29,822.40
Total Interest
$6,032.38
How to Use This Calculator
1
Enter the vehicle price
The sticker price or the negotiated out-the-door price before tax. Always negotiate the price before discussing financing.
2
Enter down payment and trade-in value
Both reduce your loan amount. In Texas, a trade-in reduces the taxable sales price — this saves you 6.25% on the trade-in amount in sales taxes.
3
Sales tax is auto-included
In Texas, 6.25% sales tax applies to the vehicle purchase price. This is rolled into your loan if you finance — meaning you pay interest on the tax too.
4
Enter the loan rate and term
New cars: 5–8% APR in 2025. Used cars: 7–12%. Credit unions typically 1–2% below banks. Dealers often mark up rates — always get a pre-approval from your bank or credit union first.
Real-World Examples
New Truck — Texas Buyer
Vehicle Price
$48,000
Down Payment
$8,000
TX Sales Tax (6.25%)
$3,000
Rate / Term
7% / 72 months
Result$733/mo — $9,780 total interest
72-month term lowers payment but costs nearly $10K in interest. 60 months would be $811/mo but saves $2,200.
Used Car — Good Deal
Vehicle Price
$18,500
Down Payment
$3,500
Trade-In
$4,000
Rate / Term
9% / 48 months
Result$305/mo — $3,080 total interest
Trade-in and solid down payment keep this affordable. Total loan only $11,156 after trade-in and down payment.
Frequently Asked Questions
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