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The Auto Loan Calculator is mainly intended for car purchases within the U.S. People outside the U.S. may still use the calculator, but please adjust accordingly. If only the monthly payment for any auto loan is given, use the Monthly Payments tab (reverse auto loan) to calculate the actual vehicle purchase price and other auto loan information.
For example, the total interest for a $30,000, 60-month loan at 7% would be $6,497.40. So the monthly payment would be $608.29 ($30,000 + $6,497.40 ÷ 60 = $552.50). Our free car loan calculator ...
The most powerful auto loan calculator on the market from Kelley Blue Book, the most trusted name in the automotive world. Determine the monthly payment and total cost of a car loan instantly ...
Estimate your monthly payments with Cars.com's car loan calculator and see how factors like loan term, down payment and interest rate affect payments.
Use this auto loan calculator when comparing available rates to estimate what your car loan will really cost, minus additional fees that lenders may enforce. Simply enter the amount you wish to ...
A monthly payment calculator will typically estimate your car payment using simple interest. Auto Loan Tips. Checking your credit score can help you gauge your loan approval chances. Understanding your credit history and current credit score may help you make a more informed decision on your auto loan. Credit scores are a key factor when ...
Estimated auto payment: Once you enter the above information into our car loan calculator, you’ll see your estimated monthly payment. In Q2 2024, the average new car payment was $734 and the average used car payment was $525, according to Experian’s State of the Automotive Finance Market Report. If your estimated monthly payment is too high ...
Our car loan calculator will calculate your monthly interest repayment over several years then compare them to a separate monthly repayment period, which you can choose. Car Loan Formula. The Car Loan Calculator uses the following basic formula: Monthly Car Loan Payment = { Rate + Rate / [(1 + Rate) months-1] } x Principal Car Loan Amount. Where:
Car Loan Factors Explained . Purchase Price. In 2022, the average new car price exceeded $47,000, and the median salary is $53,924 for a full-time worker. After paying income taxes on a $53,924 salary, the take-home pay is reduced to $43,422. The average used car price has surged close to 30% in recent years, bringing the average transaction to $27,633.
This calculator uses the present value equation to calculate a monthly auto loan payment. First the calculator finds the interest rate as an equivalent monthly rate rather than the yearly rate that you input. Then the calculator solves the present value equation for payment, noted as PMT: P M T = P V i (1 + i) n (1 + i) n − 1.