Car Loan Calculator
Calculate your car loan payments with our free car loan calculator. Enter your vehicle price, down payment, interest rate, and loan term to estimate your monthly payments and total loan costs.
- Car Loan Calculator: Calculate monthly payments
- Car Financing Tips: How to get the best rates
- Loan Terms: Understanding car loan basics
Car Loan Calculator
Enter your car purchase details to calculate loan payments and total costs.
Car Financing Tips
Getting the Best Car Loan Rates
- Check Your Credit Score: Higher credit scores qualify for better rates
- Shop Around: Compare rates from banks, credit unions, and dealers
- Consider Loan Terms: Shorter terms mean higher payments but less interest
- Make a Larger Down Payment: Reduces loan amount and monthly payments
Types of Car Loans
- New Car Loans: Typically offer the lowest interest rates
- Used Car Loans: Slightly higher rates but more affordable vehicles
- Certified Pre-Owned: Balance between new and used car financing
- Refinancing: Replace existing loan with better terms
Understanding Car Loan Terms
Key Terms
- Principal: The amount you borrow to buy the car
- Interest Rate (APR): The cost of borrowing money annually
- Loan Term: The length of time to repay the loan
- Monthly Payment: Fixed amount paid each month
Factors Affecting Your Rate
- Credit Score: Higher scores get better rates
- Down Payment: Larger down payments reduce risk
- Loan Term: Shorter terms often have lower rates
- Vehicle Age: Newer cars typically qualify for better rates