Car Loan Calculator

Minnesota Auto Loan Calculator

Your monthly payment and total cost for a car bought in Minnesota, with the 6.875% state tax and Minnesota'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

$663.41

for 60 months at 6.5% APR

Vehicle price
$35,000
Amount financed
$33,906
Sales tax
$2,406
Due at signing
$5,000
Total of payments
$39,805
Total interest
$5,899
Total cost of the car
$44,805
Car (after rebates): $35,000Interest: $5,899Tax & fees: $3,906
  • Car (after rebates)$35,00078%
  • Interest$5,89913%
  • Tax & fees$3,9069%

Compare loan terms

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

TermMonthlyInterestTotal cost
36 mo (3 yr) $1,039.19 $3,505 $42,411
48 mo (4 yr) $804.09 $4,690 $43,596
60 mo (5 yr) $663.41 $5,899 $44,805
72 mo (6 yr) $569.96 $7,131 $46,037
84 mo (7 yr) $503.49 $8,387 $47,293

Payment schedule

YearPaymentPrincipalInterestBalance
1$7,960.98$5,931.72$2,029.26$27,974.53
2$7,960.98$6,328.98$1,632.00$21,645.56
3$7,960.98$6,752.84$1,208.14$14,892.72
4$7,960.98$7,205.09$755.89$7,687.63
5$7,960.98$7,687.63$273.35$0.00
Show all 60 monthly payments
MonthPaymentPrincipalInterestBalance
1$663.41$479.76$183.66$33,426.49
2$663.41$482.35$181.06$32,944.14
3$663.41$484.97$178.45$32,459.17
4$663.41$487.59$175.82$31,971.58
5$663.41$490.24$173.18$31,481.34
6$663.41$492.89$170.52$30,988.45
7$663.41$495.56$167.85$30,492.89
8$663.41$498.24$165.17$29,994.65
9$663.41$500.94$162.47$29,493.70
10$663.41$503.66$159.76$28,990.05
11$663.41$506.39$157.03$28,483.66
12$663.41$509.13$154.29$27,974.53
13$663.41$511.89$151.53$27,462.65
14$663.41$514.66$148.76$26,947.99
15$663.41$517.45$145.97$26,430.54
16$663.41$520.25$143.17$25,910.29
17$663.41$523.07$140.35$25,387.22
18$663.41$525.90$137.51$24,861.32
19$663.41$528.75$134.67$24,332.57
20$663.41$531.61$131.80$23,800.96
21$663.41$534.49$128.92$23,266.47
22$663.41$537.39$126.03$22,729.08
23$663.41$540.30$123.12$22,188.78
24$663.41$543.23$120.19$21,645.56
25$663.41$546.17$117.25$21,099.39
26$663.41$549.13$114.29$20,550.26
27$663.41$552.10$111.31$19,998.16
28$663.41$555.09$108.32$19,443.07
29$663.41$558.10$105.32$18,884.97
30$663.41$561.12$102.29$18,323.85
31$663.41$564.16$99.25$17,759.69
32$663.41$567.22$96.20$17,192.47
33$663.41$570.29$93.13$16,622.18
34$663.41$573.38$90.04$16,048.81
35$663.41$576.48$86.93$15,472.32
36$663.41$579.61$83.81$14,892.72
37$663.41$582.75$80.67$14,309.97
38$663.41$585.90$77.51$13,724.07
39$663.41$589.08$74.34$13,134.99
40$663.41$592.27$71.15$12,542.73
41$663.41$595.47$67.94$11,947.25
42$663.41$598.70$64.71$11,348.55
43$663.41$601.94$61.47$10,746.61
44$663.41$605.20$58.21$10,141.40
45$663.41$608.48$54.93$9,532.92
46$663.41$611.78$51.64$8,921.14
47$663.41$615.09$48.32$8,306.05
48$663.41$618.42$44.99$7,687.63
49$663.41$621.77$41.64$7,065.85
50$663.41$625.14$38.27$6,440.71
51$663.41$628.53$34.89$5,812.19
52$663.41$631.93$31.48$5,180.25
53$663.41$635.36$28.06$4,544.90
54$663.41$638.80$24.62$3,906.10
55$663.41$642.26$21.16$3,263.85
56$663.41$645.74$17.68$2,618.11
57$663.41$649.23$14.18$1,968.88
58$663.41$652.75$10.66$1,316.13
59$663.41$656.29$7.13$659.84
60$663.41$659.84$3.57$0.00

How Minnesota taxes car purchases

State vehicle tax rate
6.875%
Trade-in lowers the tax
Yes
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.

Minnesota charges 6.875% at the state level. Motor vehicle sales tax; the rate rose from 6.5% on July 1, 2023. That rate is higher than 45 states and lower than 5 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 Minnesota

Minnesota's motor vehicle sales tax went up from 6.5% to 6.875% on July 1, 2023, so older estimates come in a little low: on a $35,000 car the difference is $131.25.

Both trade-ins and rebates reduce the taxable price, and the calculator applies both. If a dealer offers a choice between a rebate and a lower APR, try each in the calculator: the rebate also cuts your tax here, which isn't true in every state.

Does Minnesota tax your trade-in?

No. Minnesota 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 $1,718.75 in state tax instead of $2,406.25, a saving of $687.50. That saving is worth counting when you compare a dealer's trade-in offer with selling the car yourself.

Example: a car loan in Minnesota

A $35,000 car with $5,000 down, $1,500 in fees, and a 60-month loan at 6.5% APR ($2,406.25 state tax, rolled into the loan):

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

Rebates and fees

In Minnesota, a rebate lowers the taxable price, and the calculator takes it off before figuring the tax. 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