Are you shopping for a new car? Our auto loan calculator will help you estimate your monthly payment and the total costs of your loan. Try different loan terms, down payments, and interest rates to see how they affect your monthly payment and the total cost of your new car!
How to use the calculator:
Fill in the required fields and click on the “Calculate” button to see the results. Here’s what each of the fields means:
- Vehicle price: the amount of money that you have to pay in order to purchase a vehicle
- Down payment: the initial payment you make when you buy something expensive, that represents a portion of the total purchase price.
- Rebate: when the buyer is paid back a portion of the full purchase price of a good or service.
- Trade-in value: the value of your car when you opt for a trade-in.
- Owed on trade-in: the amount you still owe for the car you want to trade-in.
- Sales tax: a tax paid to the government for the sales of certain goods and services.
- Interest Rate: the amount charged by a lender to a borrower.
- Loan term: the total amount of time in which you have to repay what you borrowed.
- Payment frequency: how often you make a payment.
- Estimated monthly payment: the estimated amount of money that you have to pay on a monthly basis for the loan.
- Amount financed: the amount of money borrowed from a lender.
- Total Payments: the total of your monthly loan payments.
- Sales tax: tax charged by the government on the sale of goods and services.
- Total Interest: the total amount of interest paid over the loan’s term.
- Paid up front: a payment made in advance.
- Final cost: the cost of the car with all the payments, including the down payment.