How does a trade-in reduce my car sales tax?

In most US states and global jurisdictions, you only pay sales tax on the net difference between the purchase price and your trade-in value (e.g. $40,000 car - $10,000 trade-in = only $30,000 is taxed).

What is a good auto loan interest rate?

For borrowers with strong credit (700+), new car rates typically range between 4.5% and 6.5%, while used car rates range from 6.0% to 9.0% depending on central bank benchmark rates.

Should I choose a 48, 60, or 72-month car loan?

While a 72-month loan lowers monthly payments, it costs much more in total interest and increases the risk of being "underwater" (owing more than the car is worth). A 48 to 60-month loan is widely recommended.

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Car Payments, Sales Tax & Trade-In Estimator

Vehicle Price ($)

Interest Rate (%)

Loan Term

Down Payment ($)

Trade-in Value ($)

Sales Tax Rate (%)

Estimated Monthly Payment

$652.02

For 60 Months

Total Amount Financed: $33,807.50

Estimated Sales Tax: $2,307.50

Total Finance Interest: $5,313.87

Total Overall Car Cost: $45,621.37