Budget Calculator

A down payment is an amount of cash that's credited toward the cost of a new car. For instance, if you're buying a $20,000 car, a $2,000 down payment would mean you would finance the remaining $18,000. A larger down payment results in a smaller loan and, therefore, lower monthly payments. The trade-in value of your current vehicle may also be applied to your down payment.

The loan duration is the number of months you'll make payments on your loan.

The APR represents the interest rate you pay on your loan. The rate is negotiated between you and your lender and is determined by a number of factors, including your credit score, the duration of the loan, and the amount of your down payment. For more information, visit our Buying vs. Leasing page.

The trade-in value of your current car can be credited towards the cost of a new car. And, in some states, the trade-in value of your current car can lower the sales tax on your new car. Determining the trade-in value of your car isn't an exact science, but getting a quote from Intelliprice is a good first step. Generally speaking, if your car doesn't have a lot of miles on the odometer and is in good overall condition, you'll get a higher trade-in value, but the final value is ultimately determined by your dealer.

This is the amount you still owe on your current car.