See the full cost of your next car.
Account for your down payment and trade-in equity. Compare payment schedules and total borrowing costs.
Start with the amount financed
Your loan starts with vehicle price plus other financed costs and the balance owing on your trade-in, minus your down payment and trade-in value. Negative trade-in equity therefore increases the new loan.
A practical example
A $35,000 car, $5,000 down payment, $8,000 trade-in and $3,000 outstanding trade-in loan produces a $25,000 amount financed before other costs.
Method & assumptions
Monthly and regular biweekly payments amortize that balance over the selected term, using annual rate ÷ 12 and annual rate ÷ 26 respectively. The accelerated plan uses half the monthly payment plus your extra amount every biweekly period.
This is a fixed-rate periodic-interest estimate, not a lender quote. Daily interest, payment dates, fees, precomputed-interest contracts and lender rounding can change results. No tax calculation, rebates or balloon payment is included.