Auto Loan Calculator with Tax Tag and Title
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Reviewed by Calculator Editorial Team
This auto loan calculator helps you estimate your total monthly payments including tax tag and title fees. Understanding these additional costs can help you budget more accurately for your new vehicle purchase.
How to Use This Calculator
To use this auto loan calculator:
- Enter the purchase price of the vehicle
- Enter your down payment amount
- Select your loan term in years
- Enter your estimated annual interest rate
- Enter your estimated tax tag and title fees
- Click "Calculate" to see your estimated monthly payment
The calculator will show you your total loan amount, monthly payment, and total interest paid over the life of the loan.
Formula Used
The monthly payment is calculated using the standard auto loan formula:
M = P [ i(1 + i)^n ] / [ (1 + i)^n - 1 ]
Where:
- M = Monthly payment
- P = Principal loan amount (Purchase price - Down payment + Tax tag and title fees)
- i = Monthly interest rate (Annual rate / 12)
- n = Number of payments (Loan term in years × 12)
After calculating the monthly payment, the calculator adds the monthly payment to the tax tag and title fees to show the total monthly cost.
Worked Example
Let's calculate the monthly payment for a $30,000 vehicle with a $3,000 down payment, 5-year term, 4.5% interest rate, and $500 tax tag and title fees.
- Principal loan amount = $30,000 - $3,000 + $500 = $27,500
- Monthly interest rate = 4.5% / 12 = 0.375%
- Number of payments = 5 × 12 = 60
- Monthly payment = $27,500 [ 0.00375(1.00375)^60 ] / [ (1.00375)^60 - 1 ] ≈ $478.50
- Total monthly cost = $478.50 + ($500 / 60) ≈ $478.50 + $8.33 ≈ $486.83
In this example, the total monthly payment would be approximately $486.83.
Frequently Asked Questions
How accurate is this auto loan calculator?
This calculator provides an estimate based on the information you provide. Actual payments may vary slightly due to rounding and other factors not accounted for in this calculation.
What are tax tag and title fees?
Tax tag and title fees are additional costs associated with registering and titling a vehicle. These fees vary by state and can include sales tax, registration fees, and title fees.
Can I use this calculator for lease payments?
No, this calculator is designed specifically for auto loan payments. For lease calculations, please use our dedicated auto lease calculator.