Calculate by State >  Michigan 

Car Loan Calculator Detailed for Michigan

Days to First Payment:

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How are car loans in Michigan calculated?

Michigan includes the sale price and the doc fee in the taxable amount of an auto loan but does not include up to $5000 of the trade-in value.

Therefore, car buyers get a tax break on trade-in vehicles in Michigan up to a maximum of $5000.

Principal vs Interest

Verbal Equation

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Principal vs Interest

Tax vs Tags

Cost Breakdown

Tax
Michigan car tax is $ at % based on an amount of $ combined from the sale price of $ plus the doc fee of $ minus the trade-in credit of $.

Tags
Michigan SOS registration fees are about $ on a $ vehicle based on a $15 transfer fee plus a $16 lien filing plus registration and plate fees calculated from a percentage of the vehicle value.

View the State of Michigan registration resources below to verify your exact amount, and use our SOS Override to adjust the calculator.

Reg Fee Calculator  |  Plate Fees

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All data based on your calculation.

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Verbal Equation

The net price of $ equals the sale price of $ minus the rebate of $. The trade‑in vehicle value is $, and after a trade‑in loan payoff of $, the balance of $ applies to the vehicle purchase.

The estimated tax and registration combined is $, but this may vary based on vehicle type and intended usage. The documentation fee is $.

Adjust numbers in calculator.

Notes

Prepaid maintenance plans, extended warranties, and GAP insurance are not taxed in Michigan and provide considerable savings over paying down the road. You can include maintenance on the warranty line of the calculator for accurate handling.

The documentation fee is set by the dealer, but is not negotiable so expect it on the purchase agreement. The customary doc fee of $220 is the maximum allowed by the State of Michigan for vehicles priced over $4400. The maximum doc fee for vehicles under $4400 is 5% of the sale price.

EV surcharges are levied to offset declining fuel tax revenue. Add $135 to the SOS fees for electric vehicles and $47.50 for hybrids.

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