Auto

Car loan rate comparison calculator

Calculate your payments and more

This car finance calculator will help compare financing between a credit union or bank and low interest dealer financing. Dealers or manufacturers often offer rebates or low-interest financing, but rarely both together. Combining a rebate with a higher interest bank or credit union car loan may provide a lower initial loan balance and, in many cases, a lower monthly payment. The better choice depends on the price of the vehicle, the amount of the rebate and the interest rate.

This calculator requires a Java-enabled browser. To download the plugin, click here.

Auto

This Financial Calculator requires SUN's Java� Plug-in. If you see this message you will need to download SUN's Java� Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing �Install ActiveX Control�.

Get the Java� Plug-in!

For more information about this Plug-in please visit: SUN's Java� Plug-in
For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Total purchase price (before tax): This is the total cost of your auto purchase. Include the cost of the vehicle, any additional options and any destination charges. Don't include sales tax in this amount. Sales tax will be calculated for you and included in your total after tax price.
Term in months: Number of months for your auto loan.
Cash down: Total amount of cash used in this 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 this purchase. In some states a trade-in can also reduce the amount of sales tax you will owe. See the definition for "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.
Sales tax rate: Sales tax percentage rate charged on this purchase.
Dealer financing: The incentive interest rate you may be able to receive from an auto manufacturer. These rates are usually significantly below standard auto loan interest rates. Low interest financing can be as little as 0% per year. Most manufacturers allow you to choose either low interest dealer financing or a manufacturer rebate, but not both. This calculator assumes that if you choose dealer financing you are not eligible for any manufacturer rebate.
Manufacturer rebate: A cash rebate paid by the auto manufacturer to you when you purchase a new vehicle. Most manufacturers allow you to choose either low interest financing or a manufacturer rebate, but not both. This calculator assumes that if you choose dealer financing you are not eligible for any manufacturer rebate.
Credit union financing: The interest rate you may be able to receive from a credit union. This is usually a higher interest rate than the manufacturer's dealer financing, but is often very competitive when used in combination with a manufacturer rebate. This calculator assumes that if you choose a manufacturer rebate you are not eligible for manufacturer or dealer low interest financing.
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. If this box is unchecked sales tax is calculated on the purchase price less trade-in. Currently California, the District of Columbia, Hawaii, Maryland and Michigan allow no deductions for trade-ins when calculating sales tax. In addition, Alaska, Delaware, Montana, New Hampshire, and Oregon have no sales tax on autos.
Calculate sales tax before rebate: Some states will calculate sales tax on your purchase price before a manufacturer's rebate is applied. If your state calculates sales tax on the vehicle price before the rebate is applied, check this box.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Compare Auto Loan Rates »

PURCHASE NEW CAR RATES

PURCHASE USED CAR RATES

REFINANCE RATES

Compare Auto Rates

zip code:

product:

48 Mo New Car average
2.58%

About our rates

About this index

Auto Averages

Product	Rate	+/-	Last week
48 month used car loan	2.70%		2.70%
48 month new car loan	2.58%		2.58%
36 month used car loan	2.76%		2.76%
36 month new car loan	2.47%		2.47%

View rates in your area:

Partner Center

Bankrate's Free Content Center

Click here to visit the content center.


	Bankrate is now on Facebook^® Get alerted when rates change Subscribe: RSS Feeds Daily newsletters full of $$ tips

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.