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To use the car finance calculator, simply fill out all the fields above and the calculator will give you an estimate of how much financing versus paying upfront will cost. You can adjust the value of each input you enter until you find either a financing or cash payment option that suits your budget.Here’s an overview of each value you’ll enter. It should help you get a better idea of the important factors that go into financing a vehicle vs. paying for it outright.

Purchase price

The vehicle’s purchase price represents its total value, including registration fees, transportation fees, sales taxes and more, according to Credit Karma.

Down payment

The down payment is how much you “put down” on a vehicle before your loan kicks in. It’s expressed as a certain percentage of the vehicle’s purchase price. The standard is a minimum of 10% and 20% for used and new cars, respectively, according to Car and Driver.

Loan term

The loan term describes how long it’ll take to pay off your loan and is typically represented in months. Longer loan terms typically increase the overall cost of the loan but come with lower monthly payments, according to The Balance.

Regular interest rate

The interest rate helps fund the loan itself and is expressed as a percentage of the entire loan amount. Interest rates are different from annual percentage rates (APR), which is a percentage of the loan amount plus other fees, according to the Consumer Financial Protection Bureau (CFPB).

Rebate

Sometimes manufacturers will offer cash returns to qualifying buyers. These are called cash rebates, says Kelley Blue Book (KBB). Rebates may be sent as a single payment that could go toward savings or it may be put toward the down payment. The finance calculator includes a dropdown for both.Rebates may range between $500 to $5,000, according to Car and Driver. It depends on seasonal factors, your particular vehicle and the manufacturer.

Special dealer financing

Many dealerships offer financing themselves, according to Bankrate. It may be a finance company owned by the dealership, manufacturer or a separate company they’ve partnered with.The idea is to make the car buying process more convenient. Instead of having to go to the dealership and find a finance company, you can do everything at the dealership itself. The drawback is that financing through a dealer tends to be more expensive.However, some dealers offer special financing to qualifying customers. Similar to manufacturer rebates, they’re designed to attract car buyers.