Vehicle affordability Making vehicle payments Buying a vehicle online Vehicle financing costs Rebates & special financing Vehicle-loan shopping Costs of vehicle ownership Vehicles as collectibles

The size of your monthly payment depends on the loan amount and loan terms. To calculate your loan amount, subtract the net trade-in value of your current auto and any down payment from the purchase price.

If you receive a rebate, subtract that amount from the purchase price too.

For example, assume the purchase price of the vehicle is $20,000, including fees and taxes. The dealer gives you $5,000 on your trade-in vehicle and offers a $500 rebate. Your lender requires you to make a down payment of $1,000. Since you owe $2,000 on your current vehicle, the net trade-in value is $3,000. If you subtract $3,000, $1,000 and $500 from the $20,000 purchase price, your loan amount is $15,500.

The following calculator helps you calculate the monthly loan payments of a new or used car. You enter the vehicle purchase price, down payment, net trade-in value and loan terms. The calculator also lets you enter the amount of any rebates the auto dealer or maker offers:

How much will my vehicle payments be?

Your calculated monthly loan payment should be less or equal to the amount that you think you can afford. Keep in mind, however, that additional costs of owning a car -- insurance, registration and maintenance, for instance -- are not included in calculating a monthly loan payment.

Next, we take a look at using the Internet to buy a used or new vehicle.

Next Topic: Buying a vehicle online