how to calculate a car loan

Best answer

To calculate auto loan payments,start byfinding the monthly interest rate by dividing the annual interest rate by 12. Then,find the principal,which is how much you need to borrow to purchase the car.

People also ask

  • How do I calculate my auto loan payments?

  • Use our auto loan calculator to calculate car payments over the life of your loan. Enter your information to see how much your monthly payments could be. You can adjust length of loan, down payment and interest rate to see how those changes raise or lower your auto payments.

  • How do I finance a car?

  • Many car buyers take out a loan to finance their purchase, either from the dealer or through a bank. The loan payments will be based primarily on the price of the car, whether it is new or used, the down payment, the length of the loan, and your credit score.

  • How do I find out what my car loan repayments will look like?

  • Use our car loan calculator as a general guide on what your car loan repayments will look like. This calculator will also tell you how much you may pay in total over the life of your loan.

  • Can people outside of the US use the auto loan calculator?

  • 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.

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