Auto Loan Comparison Calculator
Compare auto loan offers and calculate monthly payments. Compare different loan terms, interest rates, and down payment options to find the best deal.
Step 1: Loan Details
Understanding Auto Loans
Auto loan terms typically range from 24 to 84 months. Longer terms mean lower monthly payments but higher total interest. A larger down payment reduces both your monthly payment and total interest.
Step 2: Comparison Options
About Loan Comparisons
Comparing different loan options helps you find the best balance between monthly affordability and total cost. Consider both the interest rate and loan term when evaluating offers.
Auto Loan Comparison Results
Monthly Payment
Auto Loan Comparison
| Loan Term | Monthly Payment | Total Interest | Total Payment |
|---|
Loan Amortization Breakdown
Auto Loan Formula
Monthly Payment = P × [r(1+r)^n] ÷ [(1+r)^n – 1]
Where P is the principal loan amount, r is the monthly interest rate (APR ÷ 12), and n is the number of monthly payments.
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