Auto Loan Calculator

When you need to know the costs, including the depreciation costs, of financing vehicles, our handy auto loan calculator gets you the answers you’re looking for.

auto loan calculator

RealZelle Auto Loan Calculator

Do you need a car, but don’t know what to do about the cost? We have an easy-to-use calculator for monthly auto payment options! All you need is your desired loan amount, term length, and interest rate

The calculator will give you a summary of the information that it has collected from you in order to find out how much money per month it would take to pay off the debt on time. This is great if you are not sure if your budget can handle this expense.

Auto Loan Calculator

$
months
%
$
$
%
$
$
1017.03
$
1017.03
$
300.00
$
100.00
$
6.33
$
6.33
$
6.33
$
months
%
$
$
%
$
$
1017.03
$
1017.03
$
300.00
$
100.00
$
6.33
$
6.33
$
6.33

If you notice any errors or mistakes, send us an email!

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 Auto Loan Calculator

When you walk into the dealership, there are a few pieces of information that you should absolutely have in your arsenal.
The first is to just make sure that you’re in the right showroom. I other words, are you buying the right car?

The second piece of information you need is to know how much you’re willing to pay for that car. This has absolutely nothing to do with the sticker price and more to do with your understanding of how an auto loan works.
Assuming you searched for this site because you are in need of an auto loan, this calculator will help you nail down an exact monthly payment you can expect to pay.

How exactly? It’s important to understand how this auto loan calculator works, so let’s take it one step at a time.

How much are you looking to borrow?

This section should be fairly straightforward, but this is the before-tax number that you and your salesperson agree on for that car and any add-ons. This will obviously have the largest effect on your monthly payment.

For How Long?

This box is once more a bit straightforward, though it’s important to note that your bank should be willing to work with you on the length of the loan. That being said, the longer the term, the less your monthly payment will be, so keep this in mind and don’t hesitate to adjust this number to make sure the final calculation fits within your budget. Once you’ve settled on a specific car, the length of the loan will have the next largest impact on what your monthly payment will be.

Is your vehicle new or used?

While there are only two options, be sure to know which one you need because your bank will certainly be paying attention. While your selection here may not affect the calculation we provide, it’s important to highlight when calculating your loan amount because the banks will almost certainly charge a higher interest rate for a used car as compared with a new one.

Interest Rate:

Banks offer interest rates based on what kind of car you’re buying and what your personal history with paying back money happens to be. While the interest rate may have the least impact on your monthly payment, it is usually the variable with the most question marks attached. Here are some points to think about when shopping for interest rates:

– New vs used: as mentioned earlier, a new car will usually have a lower interest rate than a used car because the value of the car is more concrete when new and the likelihood of paying that loan back on a new car is higher.
– Your credit score: if you have a high credit score, you may be able to obtain the lowest rates, which could be as low as 1.89% for a new car as of late May 2021. A lower credit score could yield a double-digit interest rate, which certainly will have an effect on your payment.

The bottom line

Play around a bit with the numbers, but always check with your bank before going shopping for a car so you have realistic expectations before you go into the scary room where the salesman puts big numbers in front of you.