What will your monthly car payment be once tax, fees and your trade-in are included?
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The amount you finance is the car price plus sales tax and fees, minus your down payment, trade-in and rebates — plus any amount still owed on the car you trade in (negative equity).
Most states tax only the difference between the new car's price and your trade-in, which is a real saving. Longer loans lower the payment but cost more interest and leave you owing more than the car is worth for longer.
| Car price | 35,000 $ |
| Down payment | 3,000 $ |
| Trade-in value | 8,000 $ |
| Still owed on trade-in | 0 $ |
| Cash rebate | 0 $ |
| Sales tax rate | 6.25% |
| Sales tax on price minus trade-in? | Yes (most states) |
| Title, registration & dealer fees | 500 $ |
| Interest rate (APR) | 6.9% |
| Loan term | 60 months |
| Monthly payment | $517.31 |
| Amount financed | $26,188 |
| Sales tax | $1,688 (on price minus trade-in) |
| Total interest | $4,851 |
| Total cost of the car | $42,039 |
$517.31.
| Car price | 28,000 $ |
| Down payment | 2,000 $ |
| Trade-in value | 0 $ |
| Still owed on trade-in | 0 $ |
| Cash rebate | 0 $ |
| Sales tax rate | 6% |
| Sales tax on price minus trade-in? | Yes (most states) |
| Title, registration & dealer fees | 500 $ |
| Interest rate (APR) | 8% |
| Loan term | 72 months |
| Monthly payment | $494.09 |
| Amount financed | $28,180 |
| Sales tax | $1,680 |
| Total interest | $7,394 |
| Total cost of the car | $37,574 |
$494.09.
It depends on credit score: borrowers with excellent credit often see about 5–7% for new cars, while lower scores can pay well over 10%.
60 months or shorter if you can afford it: a 72- or 84-month loan costs more interest and increases the risk of owing more than the car is worth.
In most states yes — tax is charged on the price minus the trade-in value. California, Michigan (partly), Virginia, Hawaii and a few others tax the full price.
For 2025–2028, interest on a loan for a new personal-use car assembled in the US can be deducted, up to $10,000 a year, phasing out above $100,000 of income ($200,000 joint).