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Auto Loan Calculator

●Working

Calculate car loan payments and financing options

Calculator Settings

Auto Loan Calculator

Calculate your auto loan payments with precision. Include down payment, trade-in value, and extra payments to see exactly how much your vehicle will cost.

Loan Details

Calculation Results

Enter your loan details to see the calculation results

Methodology & Formula

This auto loan calculator uses the standard compound interest formula to determine monthly payments:

M = P × (r(1+r)^n) / ((1+r)^n - 1)

Where:

  • M = Monthly payment
  • P = Effective principal (Vehicle price - Down payment - Trade-in value)
  • r = Monthly interest rate (Annual rate ÷ 12)
  • n = Total number of payments (Years × 12)

Special Cases:

  • If interest rate = 0%, then M = P ÷ n
  • Extra payments reduce principal and shorten loan term
  • All calculations compound monthly

The amortization schedule shows how each payment is split between principal and interest over time. Early payments consist mostly of interest, while later payments pay down more principal.

Auto loan Methodology

Comprehensive methodology and accuracy information

95% Accurate
Highly Accurate
Last Updated
January 2024
Version
1.0.0
Important Disclaimer
This calculator is provided for educational and informational purposes only. Results should be verified with professional consultation for critical decisions.
95%
Accuracy Rate
1
Formulas Used
2
Data Sources

About This Calculator

This auto loan calculator is designed to provide accurate calculations for your specific needs. Our calculators are thoroughly tested and follow industry standards to ensure reliable results.

Key Features

  • • Instant calculations with real-time results
  • • Mobile-friendly responsive design
  • • No registration or personal data required
  • • Free to use with no limitations

How to Use

  • • Enter your values in the input fields
  • • Results update automatically as you type
  • • Use the clear button to reset all fields
  • • Copy or save results for your records

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