Auto Loan Calculator
This Auto Loan Calculator helps you estimate your monthly car payment based on the loan amount, interest rate, and loan term. It’s ideal for budgeting your next vehicle purchase.
Car Loan Payment Calculator
Auto Loan Payment Formula
$$PMT = \frac{P \times r}{1 – (1 + r)^{-n}}$$
Where:
- $$PMT$$ = Monthly auto loan payment
- $$P$$ = Principal loan amount
- $$r$$ = Monthly interest rate (annual rate divided by 12)
- $$n$$ = Total number of monthly payments
The Auto Loan Calculator helps you plan your monthly car loan payments, showing the breakdown between principal and interest. With this tool, you can easily compare different loan terms, down payments, and interest rates to find the best financing option for your needs.