How to use this calculator
Use a fixed nominal annual interest rate with monthly compounding. This model assumes equal end-of-month payments and no balloon, fees, or early repayment. APR disclosures containing fees may differ from the contractual interest rate.
The formula
Principal = purchase × (1 + tax) − down payment. Monthly rate r = APR / 12. Payment = principal × r / (1 − (1 + r)^−months). At zero interest, payment = principal / months. Interest = payment × months − principal.
What to keep in mind
Compare the estimate with a lender disclosure. Include financed fees in acquisition only if applicable.
Use consistent nominal USD values. Taxes default to zero because rates and exemptions vary. Supply applicable sales and property taxes from your jurisdiction. Income tax deductions and credits are excluded. Rental energy and maintenance are assumed included in the entered rental rate; add any renter-paid costs to that rate.