To use, enter values for the Vehicle Price, Trade-In Value, Trade-In Payoff, Down Payment, Loan Length in Months, and the Interest
Rate (e.g. 7.25), and then click the Calculate
button. The values for the State Tax, Local Tax, State Single Article Tax, Total Taxes and Monthly
Payment will be calculated and displayed. The Monthly Payment does not include the taxes. Clicking the Reset button will clear entered
values. Please enter only numeric values (no commas), using decimal points
where needed. Non-numeric values will cause errors.
The results of this loan payment calculator are for comparison purposes only.
The estimate does not include tags, title, and registration. The estimate will be a close
approximation of actual loan repayments, if the terms entered are available from a financial institution.
This is being provided for you to plan your next loan application.
Under Tenn. Code Ann. Section 67-6-702(d) of the state’s Sales and Use Tax law,
the local option tax is limited to the first $1,600 of the cost to purchase or use a single
article of tangible personal property. On July 15, 2002, Public Chapter 856 imposed an
additional 2.75% rate on the amount in excess of $1,600, up to $3,200.