Auto Loan Calculator with Taxes & Fees
body {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
background-color: #f8f9fa;
color: #333;
line-height: 1.6;
margin: 0;
padding: 20px;
}
.loan-calc-container {
max-width: 800px;
margin: 20px auto;
background-color: #ffffff;
padding: 30px;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0, 0, 0, 0.1);
}
h1, h2 {
color: #004a99;
text-align: center;
margin-bottom: 20px;
}
.input-group {
margin-bottom: 20px;
display: flex;
align-items: center;
flex-wrap: wrap;
}
.input-group label {
flex: 1 1 150px;
min-width: 150px;
font-weight: bold;
margin-right: 15px;
color: #004a99;
}
.input-group input[type="number"],
.input-group input[type="range"] {
flex: 2 1 200px;
padding: 10px 15px;
border: 1px solid #ced4da;
border-radius: 4px;
box-sizing: border-box;
font-size: 1rem;
}
.input-group input[type="range"] {
width: calc(100% – 170px); /* Adjust width for label */
cursor: pointer;
}
.input-group span.value-display {
margin-left: 10px;
font-weight: bold;
color: #004a99;
min-width: 80px;
text-align: right;
}
button {
display: block;
width: 100%;
padding: 12px 20px;
background-color: #004a99;
color: white;
border: none;
border-radius: 5px;
font-size: 1.1rem;
cursor: pointer;
transition: background-color 0.3s ease;
margin-top: 10px;
}
button:hover {
background-color: #003366;
}
#result {
margin-top: 30px;
padding: 20px;
background-color: #e7f3ff;
border: 1px solid #004a99;
border-radius: 5px;
text-align: center;
}
#result h3 {
color: #004a99;
margin-top: 0;
font-size: 1.4rem;
}
#result p {
font-size: 2rem;
font-weight: bold;
color: #28a745;
margin-bottom: 0;
}
#result .sub-results {
font-size: 1rem;
font-weight: normal;
color: #333;
margin-top: 15px;
display: flex;
justify-content: space-around;
flex-wrap: wrap;
}
#result .sub-results span {
margin: 5px 10px;
}
.article-section {
margin-top: 40px;
padding-top: 30px;
border-top: 1px solid #eee;
}
.article-section h2 {
text-align: left;
margin-bottom: 15px;
}
.article-section p, .article-section ul {
margin-bottom: 15px;
}
.article-section ul {
padding-left: 20px;
}
.article-section li {
margin-bottom: 8px;
}
@media (max-width: 600px) {
.input-group {
flex-direction: column;
align-items: stretch;
}
.input-group label {
margin-bottom: 5px;
margin-right: 0;
}
.input-group input[type="number"],
.input-group input[type="range"] {
flex: none;
width: 100%;
margin-bottom: 10px;
}
.input-group span.value-display {
margin-top: 5px;
text-align: left;
}
#result .sub-results {
flex-direction: column;
align-items: center;
}
}
Auto Loan Calculator
Calculate your estimated monthly payment
Vehicle Price ($):
Down Payment ($):
Loan Term (Years):
5 years
Annual Interest Rate (%):
6.5%
Sales Tax Rate (%):
7%
Other Fees ($):
Calculate Loan
Your Estimated Monthly Payment
$0.00
Total Interest: $0.00
Total Paid: $0.00
Loan Amount: $0.00
Understanding Your Auto Loan Calculation
An auto loan calculator helps you estimate your monthly payments, total interest paid, and the total cost of your vehicle over the life of the loan. This tool is essential for budgeting and making informed decisions when purchasing a car.
This calculator specifically includes common additions to the base vehicle price: sales tax and other fees (like documentation fees, registration, etc.). Understanding these costs upfront can prevent surprises.
How the Calculation Works:
The core of the calculation involves determining the loan principal, then applying the standard loan amortization formula. Here's a breakdown:
Calculate Total Vehicle Cost:
The vehicle price is the starting point.
Sales Tax: Calculated as (Vehicle Price * Sales Tax Rate) / 100. This amount is added to the vehicle price.Total Price (Pre-Loan): Vehicle Price + Sales TaxLoan Principal: This is the total amount you will borrow. It's calculated as Total Price (Pre-Loan) + Other Fees - Down Payment.
Calculate Monthly Payment: The standard formula for calculating the monthly payment (M) of an amortizing loan is:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
P = Loan Principal (amount borrowed)i = Monthly Interest Rate (Annual Interest Rate / 12 / 100)n = Total Number of Payments (Loan Term in Years * 12)
Calculate Total Interest Paid: This is the difference between the total amount paid over the loan term and the original loan principal.
Total Interest = (Monthly Payment * Number of Payments) - Loan Principal
Calculate Total Paid: The total amount paid to the lender over the life of the loan.
Total Paid = Monthly Payment * Number of Payments
Example Scenario:
Let's say you're looking at a car with a Vehicle Price of $30,000. You plan a Down Payment of $5,000. The dealership has an Annual Interest Rate of 6.5%, the Loan Term is 5 years, the Sales Tax Rate is 7%, and there are Other Fees totaling $1,000.
Sales Tax Amount: $30,000 * 0.07 = $2,100Total Price (Pre-Loan): $30,000 + $2,100 = $32,100Loan Principal (P): $32,100 + $1,000 (Fees) – $5,000 (Down Payment) = $28,100Monthly Interest Rate (i): (6.5% / 12) / 100 = 0.065 / 12 = 0.00541667Number of Payments (n): 5 years * 12 months/year = 60Using the formula, the Monthly Payment would be approximately $552.50.
Total Paid: $552.50 * 60 = $33,150.00Total Interest Paid: $33,150.00 – $28,100 = $5,050.00
This calculator helps visualize these numbers quickly, allowing you to compare different vehicles, loan terms, or interest rates.
Tips for Auto Loans:
Shop Around: Get pre-approved for a loan from your bank or credit union before visiting the dealership.Check Your Credit Score: A higher credit score usually means a lower interest rate.Negotiate the Price: Focus on negotiating the "out-the-door" price of the vehicle before discussing financing.Read the Fine Print: Understand all terms, fees, and conditions of the loan agreement.
function calculateAutoLoan() {
var vehiclePrice = parseFloat(document.getElementById("vehiclePrice").value);
var downPayment = parseFloat(document.getElementById("downPayment").value);
var loanTermYears = parseInt(document.getElementById("loanTerm").value);
var annualInterestRate = parseFloat(document.getElementById("interestRate").value);
var salesTaxRate = parseFloat(document.getElementById("salesTaxRate").value);
var otherFees = parseFloat(document.getElementById("otherFees").value);
// Input validation
if (isNaN(vehiclePrice) || vehiclePrice < 0) {
alert("Please enter a valid Vehicle Price.");
return;
}
if (isNaN(downPayment) || downPayment < 0) {
alert("Please enter a valid Down Payment.");
return;
}
if (isNaN(loanTermYears) || loanTermYears <= 0) {
alert("Please enter a valid Loan Term.");
return;
}
if (isNaN(annualInterestRate) || annualInterestRate < 0) {
alert("Please enter a valid Annual Interest Rate.");
return;
}
if (isNaN(salesTaxRate) || salesTaxRate < 0) {
alert("Please enter a valid Sales Tax Rate.");
return;
}
if (isNaN(otherFees) || otherFees < 0) {
alert("Please enter valid Other Fees.");
return;
}
var salesTaxAmount = (vehiclePrice * salesTaxRate) / 100;
var totalVehicleCost = vehiclePrice + salesTaxAmount;
var loanPrincipal = totalVehicleCost + otherFees – downPayment;
if (loanPrincipal 0 && monthlyInterestRate > 0) {
// Standard Amortization Formula
monthlyPayment = loanPrincipal * (monthlyInterestRate * Math.pow(1 + monthlyInterestRate, numberOfPayments)) / (Math.pow(1 + monthlyInterestRate, numberOfPayments) – 1);
} else if (loanPrincipal > 0 && monthlyInterestRate === 0) {
// Handle 0% interest rate
monthlyPayment = loanPrincipal / numberOfPayments;
} else {
// Loan principal is 0 or negative (covered by check above)
monthlyPayment = 0;
}
monthlyPayment = Math.max(0, monthlyPayment); // Ensure monthly payment is not negative
totalPaid = monthlyPayment * numberOfPayments;
totalInterest = totalPaid – loanPrincipal;
// Format currency and percentages
var currencyFormatter = new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD' });
var percentFormatter = new Intl.NumberFormat('en-US', { style: 'percent', minimumFractionDigits: 2, maximumFractionDigits: 2 });
document.getElementById("monthlyPayment").textContent = currencyFormatter.format(monthlyPayment);
document.getElementById("totalInterest").textContent = currencyFormatter.format(totalInterest);
document.getElementById("totalPaid").textContent = currencyFormatter.format(totalPaid);
document.getElementById("loanAmountTotal").textContent = currencyFormatter.format(loanPrincipal);
}
// Initialize value displays and calculate on load
document.addEventListener('DOMContentLoaded', function() {
document.getElementById('loanTermValue').textContent = document.getElementById('loanTerm').value + ' years';
document.getElementById('interestRateValue').textContent = document.getElementById('interestRate').value + '%';
document.getElementById('salesTaxRateValue').textContent = document.getElementById('salesTaxRate').value + '%';
calculateAutoLoan(); // Perform initial calculation
});