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Auto  Loan Calculator

Auto loan calculator online in 2023: assessment of the best car loan in the USA online

Calculation according to the vehicle value
Calculation according to the loan amount
Car loan amount

The amount you want to receive

3000 $
100000 $
Auto  Loan Calculator Auto  Loan Calculator Auto  Loan Calculator Auto  Loan Calculator Auto  Loan Calculator
Auto loan amount

Auto loan amount

3000 $
100000 $
Down payment

Specify the percentage of the down payment

You auto loan amount
Auto loan term

Specify the desired length of the auto loan

Interest rate

Choose the interest rate on the loan

1 %
20 %
Type of payments

Specify the type of payment for calculating

Fill out an application for an auto loan online!
Fill out an application for an auto loan online!

Take advantage of our auto loan selection system with a free credit rating check!

What is an Auto Loan?

An auto loan or a car loan is a secured loan that uses the vehicle you are purchasing as collateral. Lenders offer such a type of loan both for used and new cars. The interest rates for new cars are typically lower than those for used cars because of lower risks for lenders. The interest accumulates on a balance of your loan over the loan term, and depends on such criteria as your credit score, the loan's life, the amount you borrow, and the car price.

Auto Loan Calculator

Major Types of Auto Loans

There are several types of auto loans:

Why You Need an Auto Loan Calculator

The auto loan calculator helps to compute the monthly payment and total cost of an auto loan, taking into account sales tax, fees, trade-in value, etc. Also, future borrowers can calculate their approximate rate for used or new auto loans, as well as loan terms.

Monthly car loan payment usually depends on the price of a vehicle, your down payment, loan term, and interest rate, which are affected by borrowers' credit scores. Borrowers should know that the amount of interest they pay changes monthly. If you want to calculate your monthly auto loan payment, you need to divide the total loan and interest amount by the loan term.

You can use such a calculator to consider different options for car loans and determine which is best suited to your monthly income.

How to Use Auto Loan Calculator?

If you decide to obtain a car loan, you have to pay special attention to your credit score, and if it's low, you must improve it. The auto loan calculator requires some information, such as:

When you enter the details mentioned above, the auto loan calculator will show you the results such as:

Some auto loan calculators offer an amortization schedule by which borrowers can see what the monthly interest rate will be. Most auto loan payments are divided into two parts: the principal (the money which clients borrow) and interest.

A percentage of the interest you pay in one month depends on the current balance of a loan. You pay more interest in the early days of the loan. The interest portion of your monthly payments decreases when you pay down the balance. Borrowers can use the car loan calculator to determine the interest they owe.

The more time borrowers need to pay for their loans, the more their interest rates will rise. If borrowers have such an opportunity, they can make down payments to get the shortest loan term, which will allow them to make monthly payments that are affordable for them. Also, you should take into account the fact that the vehicle also has costs outside of the loan payment. You have to be sure you will have a sufficient amount of money to pay for such needs as gas, car park, insurance, car service, and some others.

How to Compare Loans Using Auto Loan Calculator

If you decide to choose the best option by comparing auto loans offers, you have to pay special attention to APR, the interest rate, and the length of your loan. If you don't choose the best car loan option using an auto loan calculator, you will pay high additional interest amounts during the loan.

The duration of the loan period will also be important in considering its overall cost. The longer the term of your loan, the smaller your monthly payments will be. However, your interest will be higher during the loan period.

You need to weigh the pros and cons before you decide to make your loan term length in order to reduce your monthly car payment. Because in the end, you can have a car, the price of which is lower than your loan amount. That's why you don't need to focus only on your monthly car payment. Such striving may entail some additional expenses.

The total cost of a car loan amount usually depends on some factors, such as the annual percentage rate (APR), interest rate, and loan term. APR and interest rate from the cost of borrowing and are usually reflected in the borrower's monthly payment. The loan term shows how many months a borrower will have to pay monthly.

If you understand all the necessary parts of the loans mentioned above, you can choose the best auto loan option. To get the best auto loan, you must negotiate both the loan term and the interest rate. There are many online auto loan calculators which you can use to make all the necessary calculations for getting the desired car loan.


What is a good amount for a car loan?

When you receive a net wage, you are allowed to spend no more than 10% of it on the monthly car payment. For example, if your income after tax is $4000, your monthly auto loan payments will be $400.

Is 700 good for a car loan?

The higher your credit score, the lower your annual interest rate will be. And the lower your credit score, the higher your APR will be. Usually, 700 points are considered being a prime credit score. APR for a new car is 3.51% in this case, and APR for a used car is 5.38%.

How to assess the loan payback using Auto Loan Calculator?

To estimate your monthly car loan payment, you need to indicate the price of the desired car, length of your loan (in months), APR, and sales tax. And in addition, you can enter your down payment and trade-in value, but it's not necessary.

How to utilize the auto loan calculator?

Although you cannot calculate the monthly payment for a car to a penny, a good estimate can help you take a driver's seat faster and compare different auto loan offers.

Here's the guideline how to utilize the auto loan calculator and clarify various figures that make up future instalments.

  • Car value: in this field indicate the price you think you will pay for the car after negotiation.
  • Exchange and initial contribution: enter the principal sum you are investing in a new car and also the cost of exchanging your current vehicle, if any.
  • Rate of interest: you may provide the rate you are expecting or calculate it yourself based on the credit rating.
  • Months quantity: enter the term of the loan or the expected duration of repayment.
  • Result of the calculation: it is not necessary to seek the "calculate" button. Just enter your figures and the results will be provided immediately.

Aside from seeing the results of monthly instalments you are likely to face the cold and harsh reality regarding the amount you will be paying as interest. To have a better comprehension you should check the total sum you will repay for an auto loan, excluding the initial contribution.

Important! By modifying the exchange or initial contribution amount, term or percentage rate you will realize how these factors affect your instalments as well as the loan's total cost. This method helps make comparison of different offers easier.

Calculating the sales tax and fees

You should consider fees and taxes when calculating the total value of your vehicle. You will have to pay local together with state sales taxes, registration costs and documentation fees (which can vary greatly). You can surf the Internet or contact your dealership and ask to assess such costs in your area.


Buying a car involves expenses which are different from the original cost and most of them are commissions that can usually be included in an automobile loan financing or paid beforehand. However, customers having low credit ratings may be forced to pay in advance. Below is a list of common commissions associated with buying cars in the US.

  • Sales Tax. In the majority of US states the sales tax on vehicle purchases is imposed. Depending on the state where the vehicle has been purchased it is possible that the sales tax value is paid against the price of the vehicle. Delaware, Alaska, New Hampshire, Montana and Oregon are the states that do not levy sales taxes.
  • Documentation fees. These are fees that the dealer charges for documents processing such as registration and title. They usually cost between $150 and $300.
  • Ownership and registration fees. These are fees charged by states for the ownership and registration of a vehicle. A lot of states charge less than $300.
  • Advertising fee. This is the fee that paid by a regional dealer to promote a manufacturer's vehicle in the dealer's area. Unless collected separately, these fees are included in the vehicle price. A couple hundred dollars is the typical price.
  • Destination fee. That is a charge for transporting a vehicle from the factory to the dealer. The fee is typically between $600 and $1000.
  • Insurance. In the US, the availability of auto insurance is obligatory and is normally required prior to filing the paperwork by dealers. The complete coverage insurance is needed in case the car is purchased on credit rather than cash. The cost of this type of auto insurance may exceed $1,000 a year. One or two months short-term insurance is provided by a number of car dealers so new car owners can get proper insurance later.

If commissions are included in the car loan you need to select the checkbox "Include all commissions" in the calculator. If they are paid an advance instead, do not check this box. If a car dealer invests any cryptic special charges on a vehicle purchase, it would be prudent to require justification and detailed explanation of their inclusion.