platonoff.com - Auto Loan Calculator

Dmitry's Auto Pages: Loan Calculator Service Log

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	Financing	Lease	Comment
Base Price ($):			The base price of the car (the negotiated price for a purchase or MSRP for a lease)
Taxable Fees ($):			Taxable fees (if any)
Trade In ($):			Trade in (if applicable)
Down Payment ($):			Down payment (if applicable)
Capitalized Cost ($):			The capitalized cost of the car
Tax (%):			Sales tax (e.g. PST+GST)
Tax Due ($):			In case of financing, the tax is collected on the entire amount
Non-taxable Fees ($):			Non-taxable fees (if any)
Total Due ($):			Total due to buy the car out
APR (%):			Loan interest rate
Money Factor:			Lease money factor
Financing Term (mo):			Financing term (months)
Ownership Term (mo):			Ownership term (months), in case of financing an owner may keep the car after the loan is paid off, or alternatively she may trade it in sooner and refinance a new car
End Value ($):			Value of the car in the end of the ownership term (a possible trade-in value or the lease residual value)
End Value (%):			Relative value of the car in the end of the term
Depreciation ($):			Absolute car depreciation through the term
Monthly Principal ($):			A principal part of the monthly payment (average value shown for financing)
Monthly Interest ($):			An interest part of the monthly payment (average value shown for financing)
Monthly Payment ($):			Monthly principal plus interest
Monthly Tax ($):			In case of the lease, the tax is collected on the monthly payment
Monthly Total ($):			The total monthly payment
Total Paid ($):			The total amount of money paid during the term of ownership
Total Interest ($):			The total interest paid during the term of ownership
Loan Balance ($):			The balance you still owe the bank if you decide to trade the car in before it's paid off
Future Trade In (incl. tax) ($):			The projected trade in value (optionally including the tax saved on the next purchase)
TCO ($):			The total cost of ownership through the entire term
Monthly TCO ($):			The average monthly cost of ownership (what really matters in the end ;)
			Click this button to include your numbers into the URL. After that you can bookmark this page and get back to your calculations later.
This calculator has been inspired by a visit to a car dealership. There's so many different ways to purchase a car, that it's almost impossible to compare the outcome and the effectiveness of one against another in full detail, especially if you're trying to do it on a piece of paper on a hot summer day ;). I could not find any suitable tools on the internet offering a full disclosure of all the payment calculations with a detailed comparison, so I had to come up with my own version. Please let me know if you find it useful or if I've missed something. Take your time to play with numbers and see what's best for you. For example, what would happen if you increase your down payment? Or would trading a car in before the end of the financing term be more effective than leasing it? See for yourself. Feel free to link to this page from your web site. Also, if you go to a dealership, you can save this page and take a laptop with you, the calculator will work fine in your web browser without requiring a connection to the internet. Additionally, I'd like to thank Vadim Gordzeiko of Anycar for contributing his ideas of such a comparison tool.