![]() The trade-in, down payment and consumer rebate are subtracted from the total purchase price of the car to give you the total you will need to borrow and the monthly payments based on the term length and interest rate. Last, you will want to input the down payment and any applicable customer rebates. If you had already specified your trade-in on the Introduction Page, that trade-in value will also be automatically inserted based on the True Market Value ® for this vehicle. If you want to change any of the data fields to customize it (say the interest rate or term length), the calculator will automatically recalculate the numbers and present a new monthly payment. After making these choices the calculator will present the monthly payment amount. All you have to do is select a vehicle, and the Basic Loan Calculator will automatically fill in the purchase price, sales tax, associated fees (title, registration and other costs) and a finance rate with a 36-month term. This calculator is used to determine what your monthly payment will be for the car you wish to buy. ![]() Cash Back Īs you move between these different calculators using the tabs at the top of the screen, your latest figures are automatically carried to the next calculator. The information you have provided will automatically be inserted into each of the four calculators that are linked at the bottom of the page: In the next section, you provide similar information regarding your trade-in vehicle, if you have one.Īfter that, you are ready to compare the different financing choices available to you. (Note: If you click the box marked "I do not want to specify a vehicle" you can obtain generic information about car payments and interest rates.) After you have selected a vehicle, Edmunds pre-populates certain data fields (such as vehicle price, sales tax and registration fees) eliminating work for you. Here, you decide whether you are buying a new or used car, and then choose the year, make, model and style of the car you are considering.
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