Know exactly what you will be paying month to month, and in total over the full financing period.
Auto Loan Calculator Help
Use this calculator to calculate loan details when the down payment is expressed as an amount.
Unlike a general loan calculator, this calculator allows for two unknown values. In addition to solving for the
monthly payment amount, it will also calculate the "Price of the Car", the "Down Payment
Amount" or the "Amount of the Loan". Just enter a "0" (zero) for one of the three
values and provide the other two.
Note that the calculator calculates what percentage the down payment is of the price of the car. This is handy
when a lender requires a borrower to provide a minimum percentage cash deposit.
The term (duration) of the loan is expressed as a number of months.
60 months = 5 years
120 months = 10 years
180 months = 15 years
240 months = 20 years
360 months = 30 years
If you need the ability to print the amortization schedule, or more flexibility such as selecting different
payment or compounding frequencies or the ability to calculate term or interest rate, please see the auto loan
calculator here: https://financial-calculators.com/auto-loan-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also
change it at any
"Save changes" will cause the calculator to reload. Your
edits will be
Price of Auto: Enter full vehicle price as advertised.
Down Payment: Enter lump sum amount you can pay upfront if applicable.
Amount of Loan: Enter the loan amount you’ll need.
Number of months: Choose how fast you’d like to pay off your vehicle. Max period of 60 months allowed.
Annual Interest Rate: Enter the rate you have been quoted.
Payment Method: Usually ‘End-Of-Period’
Then click on the CALC button at the bottom of the form.
Select the ‘Schedule’ button to view a complete month-by-month breakdown of your payment schedule.
Select ‘Charts’ to view visual representations of your principal and interest rate payment amounts over time.