Enhanced Loan Calculator
All loan calculators let you figure your monthly payment. But suppose you want to do more than that? Maybe you know what you can afford to pay each month and want to know how much that will allow you to borrow? Or you want to know how fast you can pay off a loan with a certain monthly payment? Or figure what the mortgage rate would be on a certain loan? This Enhanced Loan Calculator allows you to look at a loan from several different angles. You can use the sliding controls to vary the inputs and see how changing some numbers affects other aspects of the loan. Once you have the numbers you want, click "View report" for a full breakdown of the loan, including total interest payments and an amortization schedule detailing the reduction in loan principle over time.
Financial Calculators from
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Manufacturer rebate could save you $1,019 in total payments.
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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.
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.
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.
The interest rate you may be able to receive from a bank, credit union or other lender. This is usually a higher interest rate than the manufacturer's low interest 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 low interest financing.
Low interest 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 financing or a manufacturer rebate, but not both. This calculator assumes that if you choose low interest financing you are not eligible for any 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.
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 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.
Enhanced Loan Calculator Overview
There are many different types of mortgages to choose from when you are purchasing a home. It is a good idea to do some research and play around with the numbers to see which mortgage options may be in your best interest. The mortgage that may be right for your friends or family may not be the most beneficial mortgage for you. The bottom line is that you will need to need how the loan amount and mortgage rate are going to affect what the mortgage payment will be on a monthly basis.
Here are some of the things you can do with this calculator:
- Figure your monthly mortgage payments
- Determine how much you can borrow, based on a given monthly payment
- Study how varying the interest rate affects your monthly payments
- Find out how fast you can pay off your mortgage with a certain monthly payment
- If considering an ARM, determining how much of an increase in the interest rate would break your budget
Using the Enhanced Loan Calculator
The calculator allows you to figure out any one of four aspects of a mortgage loan – the loan amount, monthly payment, interest rate or length – based on the other three. So, for example, if you can afford $1,300 a month and want to know how much you can borrow on a 30-year mortgage with an interest rate of 4 percent, the calculator will give you your answer: $272,299.
Or if you've got a $150,000 mortgage with an interest rate of 4.5 percent and want to know how fast you can pay it off by paying $1,000 a month , the calculator will tell you: 221 months, or just under 18 ½ years.
Here's another situation: Maybe you can qualify for a $350,000 adjustable-rate mortgage (ARM) with an initial interest rate of 3 percent. It seems like a good deal, but you've concluded the most you could afford to pay is $2,000 a month. How high would the rate have to adjust for your monthly payments to exceed that level? The calculator will tell you: 5.558 percent.
The calculator also allows you to explore a range of values to see how they affect other parts of the loan. For example, suppose you have a $200,000 fixed-rate mortgage at 4 percent, giving you a monthly payment of $954.83. How much more would you have to pay each month to knock 5 years off the loan? ($1,055.67). Three years? ($1,010.42). Seven years? ($1,109.50). The sliding green triangles let you see how varying one figure affects the others, giving you a range of options to work with.
Just choose which factor you want to calculate for, then enter your figures for the other three, or vary them using the sliding scales.
Once you're done, "View report" will provide an amortization schedule for the loan you've calculated.
Looking to buy a home or refinance a mortgage? Click on "Get Free Quote" to obtain personalized rate quotes from lenders.
Other Mortgage and Financial Calculators
In addition to the standard mortgage calculator, this page lets you access more than 100 other financial calculators covering a broad variety of situations. Choose from calculators covering various aspects of mortgages, auto loans, investments, student loans, taxes, retirement planning and more.
- Adjustable Rate Mortgage Calculator
- Interest Only ARM Calculator Overview
- How much can I borrow?
- Mortgage comparison: 15 years vs 30 years
- Balloon Loan Calculator
- ARM vs. Fixed-Rate Mortgage Calculator
- APR Calculator for Adjustable Rate Mortgages
- Bi-weekly Payment Calculator
- Blended Rate Mortgage Calculator
- Fixed Rate Mortgage vs. Interest Only ARM calculator
- Mortgage Tax Savings Calculator
- Rent vs. Buy Calculator
- Mortgage Payoff Calculator
- Mortgage Required Income Calculator
- Interest-Only Mortgage Calculator
- Mortgage Qualifying Calculator
- Mortgage Calculator Simple (PITI) - Mortgage Calculation
- Mortgage APR Calculator
- Bi-Weekly Payment Calculator For an Existing Mortgage
- Enhanced Loan Calculator
- Existing Loan Calculator
- Mortgage Debt Consolidation Calculator
- Mortgage Points Break-Even Calculator
- Refinance Break-Even Calculator
- Refinance Calculator
- Auto Rebate vs. Low Interest Financing
- Bi-weekly Payments for an Auto Loan Calculator
- Dealer Financing vs. Credit Union Financing Calculator
- Auto Lease vs. Auto Buy Calculator
- Home Equity vs. Auto Loan Calculator
- Auto Loan Calculator
- Bi-weekly Payments for an Auto Loan Calculator
- Auto Loan Payoff Calculator
- Retirement Income Calculator
- 401(k) Net Unrealized Appreciation Calculator
- 401(k) Savings Calculator
- 403(b) Savings Calculator
- 457 Savings Calculator
- 72(t) Distribution Impact Calculator
- Beneficiary Required Minimum Distributions
- Pension Plan Retirement Options
- Retirement Contribution Effects Calculator
- Retirement Planner
- Roth vs. Traditional IRA Calculator
- 72(t) Distribution Options Calculator
- Social Security Benefits Calculator