Car Loan Calculator

Michigan Auto Loan Calculator

Your monthly payment and total cost for a car bought in Michigan, with the 6% state tax and Michigan's trade-in rules already filled in.

What do you know?
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The negotiated price of the vehicle before rebates, taxes and fees.

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Get pre-approved by a bank or credit union to know your real rate before visiting the dealer.

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Manufacturer or dealer cash back. Some states tax the price before the rebate; pick your state to apply its rule.

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What the dealer will give you for your current car.

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Your current loan balance. If it is more than the trade-in value, the difference gets added to the new loan.

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Picking a state fills in the state rate. Add your county or city rate on top for a closer estimate.

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Doc fee, title, registration, plates and destination charge. Ask the dealer for an out-the-door price to see them all.

Monthly payment

$657.42

for 60 months at 6.5% APR

Vehicle price
$35,000
Amount financed
$33,600
Sales tax
$2,100
Due at signing
$5,000
Total of payments
$39,445
Total interest
$5,845
Total cost of the car
$44,445
Car (after rebates): $35,000Interest: $5,845Tax & fees: $3,600
  • Car (after rebates)$35,00079%
  • Interest$5,84513%
  • Tax & fees$3,6008%

Compare loan terms

Same car, same rate. Longer loans lower the payment but raise the total you pay.

TermMonthlyInterestTotal cost
36 mo (3 yr) $1,029.81 $3,473 $42,073
48 mo (4 yr) $796.82 $4,647 $43,247
60 mo (5 yr) $657.42 $5,845 $44,445
72 mo (6 yr) $564.81 $7,067 $45,667
84 mo (7 yr) $498.94 $8,311 $46,911

Payment schedule

YearPaymentPrincipalInterestBalance
1$7,889.07$5,878.14$2,010.93$27,721.86
2$7,889.07$6,271.81$1,617.26$21,450.05
3$7,889.07$6,691.85$1,197.23$14,758.20
4$7,889.07$7,140.01$749.06$7,618.19
5$7,889.07$7,618.19$270.88$0.00
Show all 60 monthly payments
MonthPaymentPrincipalInterestBalance
1$657.42$475.42$182.00$33,124.58
2$657.42$478.00$179.42$32,646.58
3$657.42$480.59$176.84$32,165.99
4$657.42$483.19$174.23$31,682.80
5$657.42$485.81$171.62$31,197.00
6$657.42$488.44$168.98$30,708.56
7$657.42$491.08$166.34$30,217.47
8$657.42$493.74$163.68$29,723.73
9$657.42$496.42$161.00$29,227.31
10$657.42$499.11$158.31$28,728.20
11$657.42$501.81$155.61$28,226.39
12$657.42$504.53$152.89$27,721.86
13$657.42$507.26$150.16$27,214.60
14$657.42$510.01$147.41$26,704.59
15$657.42$512.77$144.65$26,191.81
16$657.42$515.55$141.87$25,676.26
17$657.42$518.34$139.08$25,157.92
18$657.42$521.15$136.27$24,636.77
19$657.42$523.97$133.45$24,112.80
20$657.42$526.81$130.61$23,585.98
21$657.42$529.67$127.76$23,056.32
22$657.42$532.53$124.89$22,523.79
23$657.42$535.42$122.00$21,988.37
24$657.42$538.32$119.10$21,450.05
25$657.42$541.23$116.19$20,908.81
26$657.42$544.17$113.26$20,364.65
27$657.42$547.11$110.31$19,817.53
28$657.42$550.08$107.34$19,267.45
29$657.42$553.06$104.37$18,714.40
30$657.42$556.05$101.37$18,158.34
31$657.42$559.06$98.36$17,599.28
32$657.42$562.09$95.33$17,037.19
33$657.42$565.14$92.28$16,472.05
34$657.42$568.20$89.22$15,903.85
35$657.42$571.28$86.15$15,332.57
36$657.42$574.37$83.05$14,758.20
37$657.42$577.48$79.94$14,180.72
38$657.42$580.61$76.81$13,600.11
39$657.42$583.76$73.67$13,016.35
40$657.42$586.92$70.51$12,429.44
41$657.42$590.10$67.33$11,839.34
42$657.42$593.29$64.13$11,246.05
43$657.42$596.51$60.92$10,649.54
44$657.42$599.74$57.69$10,049.80
45$657.42$602.99$54.44$9,446.82
46$657.42$606.25$51.17$8,840.56
47$657.42$609.54$47.89$8,231.03
48$657.42$612.84$44.58$7,618.19
49$657.42$616.16$41.27$7,002.03
50$657.42$619.49$37.93$6,382.54
51$657.42$622.85$34.57$5,759.69
52$657.42$626.22$31.20$5,133.46
53$657.42$629.62$27.81$4,503.85
54$657.42$633.03$24.40$3,870.82
55$657.42$636.46$20.97$3,234.37
56$657.42$639.90$17.52$2,594.46
57$657.42$643.37$14.05$1,951.09
58$657.42$646.85$10.57$1,304.24
59$657.42$650.36$7.06$653.88
60$657.42$653.88$3.54$0.00

How Michigan taxes car purchases

State vehicle tax rate
6%
Trade-in lowers the tax
Up to $12,000
Tax cap
None
Source
Official source, checked 2026-10-05

These are the rules for a new car bought from a dealer. Used-car and private-sale rules can differ. How we check this data.

Michigan charges 6% at the state level. Only the first $12,000 of a trade-in reduces the tax in 2026. The limit rises $1,000 a year until there is no limit. That rate is higher than 27 states and lower than 16 states. County and city taxes may add to it, so check your local rate and enter the total in the calculator.

What to know in Michigan

Michigan limits how much of a trade-in can reduce its 6% tax. For 2026 only the first $12,000 counts, so the most a trade-in can save is $720. The limit rises by $1,000 a year until there is no limit.

For a trade-in worth more than $12,000, the value above the limit gets no tax break, which makes a private sale relatively more attractive. Michigan has no local sales taxes, so 6% is the full rate.

Does Michigan tax your trade-in?

No. Michigan only taxes the difference between the new car's price and your trade-in. On a $35,000 car with a $10,000 trade-in, you'd pay $1,500.00 in state tax instead of $2,100.00, a saving of $600.00. Only the first $12,000 of a trade-in counts, so a more valuable trade-in saves no extra tax. That saving is worth counting when you compare a dealer's trade-in offer with selling the car yourself.

Example: a car loan in Michigan

A $35,000 car with $5,000 down, $1,500 in fees, and a 60-month loan at 6.5% APR ($2,100.00 state tax, rolled into the loan):

Change any number in the calculator above to see your own figures.

Rebates and fees

The calculator charges tax on the price before any manufacturer rebate. Ask the dealer how Michigan treats your specific rebate. Title, registration and dealer documentation fees vary, so ask for an itemized out-the-door price and put the fee total in the calculator.

Other states

States with similar vehicle tax rates:

Compare car sales tax in all 50 states and DC