Auto Loan Calculator
Calculate your car loan monthly payments
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About this Tool
The Auto Loan Calculator helps you estimate your monthly car payments based on the vehicle price, down payment, interest rate, and loan term. Understanding these numbers helps you budget effectively and compare different financing options before making a purchase decision.
Common Use Cases
Car Shopping
Determine affordable monthly payments before visiting dealerships to avoid overspending.
Loan Comparison
Compare different loan offers from banks, credit unions, and dealerships to find the best deal.
Down Payment Planning
See how different down payment amounts affect your monthly payment and total interest paid.
Budget Planning
Ensure car payments fit comfortably within your monthly budget alongside other expenses.
Pro Tips
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Aim for 20% Down
A 20% down payment helps you avoid being underwater (owing more than the car's worth) and reduces interest costs.
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Keep Loan Term Reasonable
Shorter loan terms (3-5 years) mean higher monthly payments but significantly less interest paid over time.
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Factor in Total Cost
Remember to budget for insurance, maintenance, gas, and registration in addition to the loan payment.
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Shop for Rates
Get pre-approved from your bank or credit union before visiting dealerships to negotiate from a position of strength.