Car Loan Calculator Detailed for Minnesota |
Calculate by State > Minnesota
Cost Breakdown In our calculation, the taxable amount is $ which equals the sale price of $ plus the doc fee of $ minus the trade-in value of $ minus the rebate of $. DVS fees are about $ on a $ vehicle based on $40.50 for titling and plates plus a yearly registration fee that varies by vehicle age and value. View the Minnesota state registration fee schedule and yearly registration calculator to verify your exact amount, and use the DVS Override to adjust the calculator. |
How are car loans in Minnesota calculated? Minnesota includes the sale price and the doc fee in the taxable amount of an auto loan but does not include the trade-in value nor the rebate. Therefore, car buyers get a tax break on trade-in vehicles and rebates in Minnesota. Consumer Advice Prepaid maintenance plans are not taxed in Minnesota and provide considerable savings over paying down the road. 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 to see it on the contract. The standard doc fee of $75 is the maximum allowed by the State of Minnesota. EV surcharges are levied to offset declining fuel tax revenue. Include an additional $75 to the DVS fees for electric vehicles. Dealer Quote Thank you for considering our dealership for your new vehicle! I can offer you a net price of $ which equals the dealer sale price of $ minus the factory rebate of $. I can purchase your trade vehicle for $, payoff your loan up to $, and apply the balance of $ to this purchase. The estimated tax and registration combined is $, but this may vary based on vehicle age and value. Our required dealer documentation fee is $. |
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