A car loan calculator is a tool that helps you estimate the monthly payment and total cost of an auto loan. It takes into account the vehicle price, interest rate, down payment amount, trade-in value, length of the loan, sales tax rate, and registration fees. There are several websites that offer free auto loan calculators. Here are some of them:
- Calculator.net: This website provides a free auto loan calculator that calculates the total price, monthly payment, loan term, interest rate, cash incentives, down payment, trade-in value, amount owed on trade-in, sales tax, title registration and other fees.
- NerdWallet: NerdWallet’s auto loan calculator estimates your monthly car payment and total loan cost based on vehicle price, interest rate, down payment amount, trade-in value, length of the loan, sales tax rate and registration fees.
- Bankrate: Bankrate’s auto loan calculator estimates your monthly payment based on the amount you wish to borrow, the length of your intended loan, vehicle type and interest rate.
- Autotrader: Autotrader’s auto loan payment calculator estimates your monthly car payments based on your down payment amount, cost of car, loan term and more.
These websites offer a variety of features such as amortization schedules and breakdowns of principal and interest payments. They can help you make informed decisions about your car purchase by providing you with a clear picture of the costs involved.