Car Loans Repayments Calculator: How Much Will Your Auto Loan Cost?
Before you accept an auto loan offer, you need to make sure that you can afford to pay off the loan. To do that, you will need to run some calculations. To make it easy for you, we created an auto loans calculator which you can use to generate an estimate of how much an auto loan will add up in terms of total payments plus interest.
The car loans repayments calculator is available to use below. Just fill in the fields and let the calculator do the math. Need help? Scroll past the calculator for instructions.
What will be my monthly payments to pay off my loan?
How to Use This Car Loans Repayments Calculator
Follow these simple steps to generate an estimate with our auto loans finance calculator:
- Input the range of your credit score. This will tell you the average interest rate you can expect to finance a new or used car.
- Put in the price of the automobile.
- Enter in the down payment amount. Trading in a vehicle? Also put in the trade-in value of that automobile.
- Enter the interest rate you want to use for the calculation.
- Put the loan term into the last box.
You now can look at the results based on your inputs. You will be able to see the monthly payment before taxes and fees, the total amount you would pay over the lifetime of the auto loan, and the total amount of the interest over that same time period.
Try adjusting your inputs and see how that changes the estimates. This is a great way to learn more about how loans work and to find one which you will be able to afford and pay off comfortably. When you feel ready to shop for an auto loan, be sure and check out our recommended lenders.
