Car Loan Calculator Detailed for Ohio |
Calculate by State > Ohio
How are car loans in Ohio calculated? Ohio includes extended warranties, gap insurance, and doc fees in the taxable amount of an auto loan but does not include the trade-in value. Therefore, car buyers get a tax break for trade-in vehicles in Ohio. The exact tax rate may vary for your location. See our manual car tax calculator, and use the override option to fine tune your auto loan quote. |
Cost Breakdown
In our calculation, the taxable amount is $ which equals the sale price of $ plus the doc fee of $ plus the extended warranty cost of $ plus the gap insurance charge of $ minus the trade-in value $. BMV fees are about $ on a $ vehicle based on a flat fee that fluctuates depending on vehicle weight and fuel type. Add $100 for hybrid vehicles, and $200 for electric. View the Ohio state fee schedule to verify your registration cost, and use the BMV Override to adjust the calculator. Consumer Advice The documentation fee is set by the dealer, but is not negotiable so expect it on your purchase agreement. The standard doc fee of $250 is the maximum allowed by the State of Ohio for vehicles priced at $25000 or higher. The maximum doc fee for vehicles under $25000 is 10% of the sale price. Prepaid maintenance is taxable in Ohio and can be included on the warranty line of the calculator for accurate handling. 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 your location. Our required dealer documentation fee is $, or 10% of the sale price, whichever is less. |
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