Tax Effects (Important Note):
For personal car loans, interest is generally NOT tax-deductible. The calculation above includes the full cost of interest. If it (hypothetically) were deductible (e.g., for business use), an estimated tax saving based on your income tax rate would be: $0.00. This would reduce your net buy cost by that amount.
Depreciation is the loss in value of the car over time. For personal vehicles, this is a cost of ownership and impacts the net cost when you sell, but it is typically not a tax deduction unless the vehicle is used for business purposes.