Loan Summary
Cost Breakdown
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
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About Car Loan Calculation
About Car Loan Calculation
An Auto Car Calculator helps determine the true cost of financing a vehicle, going beyond the sticker price. The primary calculation is the fixed monthly payment required to fully pay off the loan (Principal and Interest) over the specified term.
Key Components:
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Loan Amount (Principal): This is the actual amount you are borrowing. It is calculated by taking the Auto Price, adding Sales Tax and Fees, and subtracting any Upfront Payments (Down Payment, Cash Incentives, and Net Trade-in Equity).
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Monthly Payment: Calculated using the loan amount, the annual interest rate (APR), and the loan term in months. This is typically the fixed amount you pay each month.
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Total Interest: The total amount of interest paid over the full duration of the loan. A longer loan term or a higher interest rate will significantly increase this total.
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Amortization Schedule: A detailed table showing how each monthly payment is allocated between reducing the Principal and paying the Interest. In early payments, the interest portion is higher, gradually shifting to principal over time.
This tool is essential for budgeting and understanding how trade-ins and fees affect the total financial commitment.