Use our auto loan calculator below to see just how much your credit score and loan term can affect your monthly payment and the total amount of interest you end up paying for your loan.
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:
- Car price: the amount of money that you have to pay in order to purchase a vehicle.
- Trade-in: the value of your car when you opt for a trade-in.
- Down payment: the initial payment you make when you buy something expensive, that represents a portion of the total purchase price.
- 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: the amount of money that you have to pay on a monthly basis.
- Total Payments: the total of your monthly loan payments.
- Total Interest: the total amount of interest paid over the loan’s term.