Use our interactive Car Loan Calculator to estimate your monthly auto loan payments. Adjust car price, down payment, loan term, and interest rate with easy sliders to see instant results.
Steps to Use the Car Loan Calculator:
Move the slider to set the total price of the car you want to buy.
Select how much you’ll pay upfront.
Choose how many years you’ll take to repay the loan.
Adjust the annual percentage rate (APR) offered by your lender.
Instantly see the estimated amount you’ll pay every month.
The monthly car loan payment is calculated using this formula:
M = ( P × r ) ÷ [ 1 - (1 + r)-n ]
Special case: If interest rate is 0%, then:
M = P ÷ n
A car loan calculator helps you estimate your monthly payments based on car price, down payment, loan term, and interest rate.
It helps you understand affordability, compare loan options, and plan your budget effectively.
Yes, by extending the formula, you can calculate the total loan repayment and subtract the principal to get total interest paid.
Car loan interest rates vary by credit score, lender, and loan term. They typically range from 3% to 15%.
Yes, it works for both new and used car loans, as long as you know the purchase price and loan terms.
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