1<!DOCTYPE html> 2<html lang="en"> 3<head><title>Car Loan Calculator - Auto Loan Amortization Schedule</title> 4<meta name="description" content="Car loan calculator with amortization schedule and extra payments to calculate the monthly payment and generates a car loan amortization schedule excel." /> 5<meta name="keywords" content="Car Loan Calculator, Auto Loan Calulator, Auto Loan Amortization Calculator" /> 6<link rel="shortcut icon" href="https://amortizationschedule.org/images/favicon.ico" /> 7 8<link rel="stylesheet" href="https://maxcdn.bootstrapcdn.com/bootstrap/3.3.7/css/bootstrap.min.css" /> 9 10<meta name="viewport" content="width=device-width, initial-scale=1" /> 11<style> 12body,p{font-family:Verdana,Arial,Helvetica,sans-serif;font-size:14px}.button-long,.button-main{background-color:#1d950d;color:#fff}tr h2,tr h3{font-size:16px;display:inline}.button,.input-custom350,.input-custom700{vertical-align:middle;background-image:none}.button-long,.button-main,.button-main a,.menu td,.menu td a,tr h2{color:#fff}p,ul li{line-height:30px}#header h1 a,.button-main a,.menu td a{text-decoration:none}body{margin:0;padding:0;line-height:15px}p{display:block;white-space:pre-line}.field_result,.field_text,h1,h2,h3,h4,h5,h6{font-weight:700}h1,h2{font-size:20px;margin-top:5px;margin-bottom:5px}a,h3,h4{font-size:15px}a{line-height:25px}.table-borderless>tbody>tr>td,.table-borderless>tbody>tr>th,.table-borderless>tfoot>tr>td,.table-borderless>tfoot>tr>th,.table-borderless>thead>tr>td,.table-borderless>thead>tr>th{border:none}.button-main{border-color:#076406}.button{width:150px;display:inline-block;padding:6px 18px;margin-bottom:0;font-size:16px;font-weight:400;line-height:1.428571429;text-align:center;white-space:nowrap;cursor:pointer;border:1px solid transparent;border-radius:4px;-webkit-user-select:none;-moz-user-select:none;-ms-user-select:none;-o-user-select:none;user-select:none}.button-long{width:300px;border-color:#076406;height:50px;font-size:20px}#header h1 a,.result_data{font-size:25px;font-weight:700}.long{width:300px}.blue{background-color:#337ab7}.short{width:80px}.regular_text label{font-weight:400;padding:0 5px}ul.sidemenu li{padding-top:15px;font-size:14px}.side{padding-left:3px}.side ul{list-style-type:none;padding:0}.side ul li{font-size:15px;line-height:35px}.result_data{color:#3675dd}tr h2{font-weight:700}tr h3{font-weight:400}tr.header{background-color:#f5f6f7}tr.header2{background-color:#495134}.datepicker,.input-custom{height:30px;width:140px;padding:6px 12px;line-height:15px;color:#555;vertical-align:middle;border:1px solid #ccc;border-radius:4px;-webkit-box-shadow:inset 0 1px 1px rgba(0,0,0,.075);box-shadow:inset 0 1px 1px rgba(0,0,0,.075);-webkit-transition:border-color .15s ease-in-out,box-shadow .15s ease-in-out;transition:border-color .15s ease-in-out,box-shadow .15s ease-in-out}.datepicker:focus,.input-custom350:focus,.input-custom700:focus,.input-custom:focus{border-color:#66afe9;outline:0;-webkit-box-shadow:inset 0 1px 1px rgba(0,0,0,.075),0 0 8px rgba(102,175,233,.6);box-shadow:inset 0 1px 1px rgba(0,0,0,.075),0 0 8px rgba(102,175,233,.6)}.input-custom350,.input-custom700{display:block;padding:6px 12px;font-size:14px;line-height:1.428571429;color:#555;background-color:#fff;border:1px solid #ccc;border-radius:4px;-webkit-box-shadow:inset 0 1px 1px rgba(0,0,0,.075);box-shadow:inset 0 1px 1px rgba(0,0,0,.075);-webkit-transition:border-color .15s ease-in-out,box-shadow .15s ease-in-out;transition:border-color .15s ease-in-out,box-shadow .15s ease-in-out}.input-custom700{width:700px;height:35px}.input-custom350{width:350px;height:35px}.datepicker{position:relative;z-index:100}.menu td{background-color:#055192;height:35px}.menu td a{margin-right:10px}.menu td a:hover{color:#fff;text-decoration:underline}.share{font-size:15px;font-weight:700;line-height:25px;padding-top:15px;padding-bottom:15px}#header h1 a{margin:0;padding-bottom:20px;padding-top:20px}.error{color:red}ul li{padding-bottom:8px;font-size:14px}.trans-button,.trans-button:hover{display:block;background:#4e9caf;padding:12px 0;text-align:center;border-radius:5px;color:#fff;font-weight:700;text-decoration:none;font-size:15px;width:300px}.tab button{padding:8px 15px}.tabs{display:flex;cursor:pointer;border-bottom:2px solid #ddd}.tab{padding:10px 20px;margin-right:10px;color:#fff;border:1px solid #ccc;border-radius:5px 5px 0 0;transition:background-color .3s;text-decoration:none;background-color:#ff7f00}a.tab:hover,a.tab:visited{text-decoration:none;color:#ffffff;}.tab2color{background-color:#2d7e04;}.box{background-color:#f9f9f9;border:2px solid #0074d9;border-radius:8px;padding:20px;margin:30px auto;max-width:900px;text-align:center;box-shadow:0 4px 10px rgba(0,0,0,.05)}.box p{font-size:16px;color:#333;margin:10px 0}.box a{color:#0074d9;text-decoration:underline;font-weight:700} 13</style> 14 15<!-- Google tag (gtag.js) -->
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23 24</head> 25<body> 26 27<div class="container" style="background:#ffffff;"> 28<table> 29<tr> 30 <td width="45"><img src="https://amortizationschedule.org/images/logos.png" alt="Amortization Schedule" width="40" height="40" /></td> 31 32 <td width="15"></td> 33 <td><div id="header"><h1><a href="https://amortizationschedule.org">Amortization Schedule</a></h1></div></td> 34 </tr> 35</table> 36 37<br /> 38 39<table width="1180" class="menu" cellpadding="0" cellspacing="0" class="tablestyle"> 40<tr> 41<td width="5"></td> 42<td width="70"><a href="https://amortizationschedule.org">Home</a></td> 43<td width="5"></td> 44<td width="180"><a href="https://amortizationschedule.org/mortgage-calculator">Mortgage Calculator</a></td> 45<td width="5"></td> 46<td width="180"><a href="https://amortizationschedule.org/car-loan-calculator">Car Loan Calculator</a></td> 47<td width="5"></td> 48<td width="160"><a href="https://amortizationschedule.org/recast">Recast Calculator</a></td> 49<td width="5"></td> 50<td width="160"><a href="https://amortizationschedule.org/heloc">HELOC Calculator</a></td> 51<td width="5"></td> 52<td width="190"><a href="https://amortizationschedule.org/refinance">Refinance Calculator</a></td> 53<td width="5"></td> 54<td width="70"><a href="https://amortizationschedule.org/excel">Excel</a></td> 55<td></td> 56</tr> 57</table> 58<br /> 59 <div class="row"> 60 <div class="col-sm-11"> 61<h1>Car Loan Calculator</h1> 62 <div class="tabs"> 63 <a href="https://amortizationschedule.org/url.php?m=gravity-lending" class="tab active" target="_blank" rel="nofollow">Lower Your Monthly Car Payments</a> 64 </div> 65 66 <p><strong>Car loan calculator with amortization schedule</strong> and extra payments to calculate the monthly payment and generates a car loan amortization schedule excel. Whether you are buying a used car or financing a new car, you will find this auto loan amortization calculator comes in handy. 67 This auto loan calculator has everything that you may need to calculate your payment with options for a down payment, trade-in, sales tax, fees, extra payments, bi-weekly payments, and a detailed auto amortization schedule for each payment.</p> 68 69 70<div id="print"> 71<form method="post" action="https://amortizationschedule.org/car-loan-calculator"> 72 <table class="table table-bordered"> 73 <tr class="header2"> 74 <td colspan="2"><h2>Auto Loan Calculator</h2></td> 75 </tr> 76 <tr> 77 <td width="200"><div class="field_text">Vehicle Price</div></td> 78 <td><input id="vehicle_price" type="text" class="input-custom" name="vehicle_price" value="30000" onfocusout="reCalculateMortgageAmount()"> $</td> 79 </tr> 80 <tr> 81 <td width="200"><div class="field_text">Down Payment</div></td> 82 <td><input id="down_payment" type="text" class="input-custom" name="down_payment" value="0" onfocusout="reCalculateMortgageAmount()"> $</td> 83 </tr> 84 <tr> 85 <td width="200"><div class="field_text">Loan Amount</div></td> 86 <td><input id="mortgage_amount" type="text" class="input-custom" name="mortgage_amount" value="20000" style="background-color: #ebebe4;" readonly onfocusout="validateNumber(this.id, 300000)"> $</td> 87 </tr> 88 <tr> 89 <td><div class="field_text">Loan Terms</div></td> 90 <td><input id="loan_terms" type="text" class="input-custom" name="loan_terms" value="5" onfocusout="validateNumber(this.id, 5)"> <div class="btn-group" data-toggle="buttons"> 91 <label class="btn btn-primary active"> 92 <input type="radio" name="loan_terms_year_month" id="loan_terms_year" value="year" checked onchange="convertLoanTerms()"> Year 93 </label> 94 <label class="btn btn-primary "> 95 <input type="radio" name="loan_terms_year_month" id="loan_terms_month" value="month" onchange="convertLoanTerms()"> Month 96 </label> 97 </div></td> 98 </tr> 99 <tr> 100 <td><div class="field_text">Interest Rate</div></td> 101 <td><input id="interest_rate" type="text" class="input-custom" name="interest_rate" value="2" onfocusout="validateNumber(this.id, 5)"></td> 102 </tr> 103 <tr> 104 <td><div class="field_text">Payment Frequency</div></td> 105 <td> 106 <div class="btn-group" data-toggle="buttons"> 107 <label class="btn btn-primary active"> 108 <input type="radio" name="payment_frequency_monthly_biweekly" id="payment_frequency_monthly" value="monthly" checked> Monthly 109 </label> 110 <label class="btn btn-primary "> 111 <input type="radio" name="payment_frequency_monthly_biweekly" id="payment_frequency_biweekly" value="biweekly" > Bi-weekly 112 </label> 113 </div> 114 </td> 115 </tr> 116 <tr> 117 <td width="200"><div class="field_text">Trade In Value</div></td> 118 <td><input id="trade_in_value" type="text" class="input-custom" name="trade_in_value" value="
1180" onfocusout="reCalculateMortgageAmount()"> $</td> 119 </tr> 120 <tr> 121 <td><div class="field_text">Sales Tax</div></td> 122 <td><input id="sales_tax" type="text" class="input-custom" name="sales_tax" value="0" onfocusout="reCalculateMortgageAmount()"> %</td> 123 </tr> 124 <tr> 125 <td><div class="field_text">Other Fees</div></td> 126 <td><input id="other_fees" type="text" class="input-custom" name="other_fees" value="0" onfocusout="reCalculateMortgageAmount()"> $</td> 127 </tr> 128 <tr> 129 <td><div class="field_text">First Payment Date</div></td> 130 <td> 131 <p><input type="text" id="datepicker" name="start_date" value="09/28/2026" class="datepicker"></p></td> 132 </tr> 133 <tr> 134 <td><div class="field_text">Amortization schedule</div></td> 135 <td> 136 <div class="btn-group" data-toggle="buttons"> 137 <label class="btn btn-primary active"> 138 <input type="radio" name="amortization_schedule" value="detail" checked>Show All Payments 139 </label> 140 <label class="btn btn-primary "> 141 <input type="radio" name="amortization_schedule" value="year" >Group By Year 142 </label> 143 </div> 144 </td> 145 </tr> 146 <tr> 147 <td></td> 148 <td><input type="checkbox" id="include_all_fees" name="include_all_fees" value="include_all_fees" onchange="reCalculateMortgageAmount()" /> <b>Include all fees into loan</b></td> 149 </tr> 150 <tr> 151 <td><div class="field_text">Extra Payments</div></td> 152 <td> 153 <div class="btn-group" data-toggle="buttons"> 154 <label class="btn btn-primary "> 155 <input type="radio" id="extra_payment_yes" name="extra_payment_yes_no" value="yes" >Yes 156 </label> 157 <label class="btn btn-primary active"> 158 <input type="radio" id="extra_payment_no" name="extra_payment_yes_no" value="no" checked>No 159 </label> 160 </div> 161 </td> 162 </tr> 163 <tr class="extra_payments"> 164 <td><div class="field_text">One Time</div></td> 165 <td> 166 <table> 167 <tr> 168 <td><input id="extra_payment_one_time" type="text" class="input-custom" name="extra_payment_one_time" value="
1680" onfocusout="validateNumber(this.id, 0)"> $</td> 169 <td width="10"></td><td> 170 <span class="field_text">On Date</span><input type="text" id="extra_payment_one_time_datepicker" name="extra_payment_one_time_date" value="09/28/2026" class="datepicker"> 171 </td> 172 </tr> 173 </table> 174 </td> 175 </tr> 176 <tr class="extra_payments"> 177 <td><div class="field_text">Monthly or Biweekly</div></td> 178 <td> 179 <table> 180 <tr> 181 <td><input id="extra_payment_monthly_biweekly" type="text" class="input-custom" name="extra_payment_monthly_biweekly" value="0" onfocusout="validateNumber(this.id, 0)"> $</td> 182 <td width="10"></td><td> 183 <span class="field_text">Starting Date</span><input type="text" id="extra_payment_monthly_weekly_datepicker" name="extra_payment_monthly_biweekly_date" value="09/28/2026" class="datepicker"> 184 </td> 185 </tr> 186 </table> 187 </td> 188 </tr> 189 <tr class="extra_payments"> 190 <td><div class="field_text">Quarterly</div></td> 191 <td> 192 <table> 193 <tr> 194 <td><input id="extra_payment_quarterly" type="text" class="input-custom" name="extra_payment_quarterly" value="0" onfocusout="validateNumber(this.id, 0)"> $</td> 195 <td width="10"></td><td> 196 <span class="field_text">Starting Date</span><input type="text" id="extra_payment_quarterly_datepicker" name="extra_payment_quarterly_date" value="09/28/2026" class="datepicker"> 197 </td> 198 </tr> 199 </table> 200 </td> 201 </tr> 202 <tr class="extra_payments"> 203 <td><div class="field_text">Yearly</div></td> 204 <td> 205 <table> 206 <tr> 207 <td><input id="extra_payment_yearly" type="text" class="input-custom" name="extra_payment_yearly" value="0" onfocusout="validateNumber(this.id, 0)"> $</td> 208 <td width="10"></td><td> 209 <span class="field_text">Starting Date</span><input type="text" id="extra_payment_yearly_datepicker" name="extra_payment_yearly_date" value="09/28/2026" class="datepicker"> 210 </td> 211 </tr> 212 </table> 213 </td> 214 </tr> 215 </div> 216 217 <tr> 218 <td></td> 219 <td><input id="calculate-submit" type="submit" name="submit" value="Calculate" class="button button-main"> 220 </td> 221 </tr> 222 </table> 223 </form>
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278 279 <table class="table table-bordered"> 280 <tr class="header"> 281 <td colspan="2"><h3>Auto Loan Amortization Schedule</h3></td> 282 </tr> 283 <tr> 284 <td width="40%">Loan Amount:</td> 285 <td>$20,000.00</td> 286 </tr> 287 <tr> 288 <td><div class="field_text">Total Monthly Payment:</div></td> 289 <td><div class="field_text">$350.56</div> <a href="https://amortizationschedule.org/url.php?m=gravity-lending" target="_blank" rel="nofollow">Lower Your Monthly Car Payments</a></td> 290 </tr> 291 <!-- 292 <tr> 293 <td><div class="field_text">One Time Expenses:</div></td> 294 <td>$0.00</td> 295 </tr>--> 296 <tr> 297 <td>Total # Of Payments:</td> 298 <td>60</td> 299 </tr> 300 <tr> 301 <td>Start Date:</td> 302 <td>Sep, 2026</td> 303 </tr> 304 <tr> 305 <td>Payoff Date:</td> 306 <td>Aug, 2031</td> 307 </tr> 308 <tr> 309 <td>Down Payment:</td> 310 <td>$0.00</td> 311 </tr> 312 <tr> 313 <td>Trade In Value:</td> 314 <td>$0.00</td> 315 </tr> 316 <tr> 317 <td>Sales Tax:</td> 318 <td>$0.00</td> 319 </tr> 320 <tr> 321 <td>Other Fee:</td> 322 <td>$0.00</td> 323 </tr> 324 <tr> 325 <td>Total Interest Paid:</div></td> 326 <td>$1,033.31</td> 327 </tr> 328 <tr> 329 <td><div class="field_text">Total of All Costs:</div></td> 330 <td><div class="field_text">$21,033.31</div></td> 331 </tr> 332 </table> 333 <div style="width:100%;"> 334 <canvas id="canvas2" style="height:400px"></canvas> 335 </div> 336
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406 <table class="table table-bordered" id="amortization"> 407 <tr class="header"> 408 <td colspan="7"><h3>Car Loan Amortization Schedule</h3></td> 409 </tr> 410 <tr class="header"> 411 <th width="120">Payment Date</th> 412 <th>Payment #</th> 413 <th>Interest</th> 414 <th align="left">Principal</th> 415 <th>Total Payment</th> 416 <th>Balance</th> 417 </tr> 418 <tr> 419 <td>Sep, 2026</td> 420 <td>1</td> 421 <td>$33.33</td> 422 <td>$317.22</td> 423 <td>$350.56</td> 424 <td>$19,682.78</td> 425 </tr> 426 <tr> 427 <td>Oct, 2026</td> 428 <td>2</td> 429 <td>$32.80</td> 430 <td>$317.75</td> 431 <td>$350.56</td> 432 <td>$19,365.03</td> 433 </tr> 434 <tr> 435 <td>Nov, 2026</td> 436 <td>3</td> 437 <td>$32.28</td> 438 <td>$318.28</td> 439 <td>$350.56</td> 440 <td>$19,046.75</td> 441 </tr> 442 <tr> 443 <td>Dec, 2026</td> 444 <td>4</td> 445 <td>$31.74</td> 446 <td>$318.81</td> 447 <td>$350.56</td> 448 <td>$18,727.94</td> 449 </tr> 450 <tr> 451 <td>Jan, 2027</td> 452 <td>5</td> 453 <td>$31.21</td> 454 <td>$319.34</td> 455 <td>$350.56</td> 456 <td>$18,408.59</td> 457 </tr> 458 <tr> 459 <td>Feb, 2027</td> 460 <td>6</td> 461 <td>$30.68</td> 462 <td>$319.87</td> 463 <td>$350.56</td> 464 <td>$18,088.72</td> 465 </tr> 466 <tr> 467 <td>Mar, 2027</td> 468 <td>7</td> 469 <td>$30.15</td> 470 <td>$320.41</td> 471 <td>$350.56</td> 472 <td>$17,768.31</td> 473 </tr> 474 <tr> 475 <td>Apr, 2027</td> 476 <td>8</td> 477 <td>$29.61</td> 478 <td>$320.94</td> 479 <td>$350.56</td> 480 <td>$17,447.37</td> 481 </tr> 482 <tr> 483 <td>May, 2027</td> 484 <td>9</td> 485 <td>$29.08</td> 486 <td>$321.48</td> 487 <td>$350.56</td> 488 <td>$17,125.90</td> 489 </tr> 490 <tr> 491 <td>Jun, 2027</td> 492 <td>10</td> 493 <td>$28.54</td> 494 <td>$322.01</td> 495 <td>$350.56</td> 496 <td>$16,803.88</td> 497 </tr> 498 <tr> 499 <td>Jul, 2027</td> 500 <td>11</td> 501 <td>$28.01</td> 502 <td>$322.55</td> 503 <td>$350.56</td> 504 <td>$16,481.33</td> 505 </tr> 506 <tr> 507 <td>Aug, 2027</td> 508 <td>12</td> 509 <td>$27.47</td> 510 <td>$323.09</td> 511 <td>$350.56</td> 512 <td>$16,158.25</td> 513 </tr> 514 <tr> 515 <td>Sep, 2027</td> 516 <td>13</td> 517 <td>$26.93</td> 518 <td>$323.62</td> 519 <td>$350.56</td> 520 <td>$15,834.62</td> 521 </tr> 522 <tr> 523 <td>Oct, 2027</td> 524 <td>14</td> 525 <td>$26.39</td> 526 <td>$324.16</td> 527 <td>$350.56</td> 528 <td>$15,510.46</td> 529 </tr> 530 <tr> 531 <td>Nov, 2027</td> 532 <td>15</td> 533 <td>$25.85</td> 534 <td>$324.70</td> 535 <td>$350.56</td> 536 <td>$15,185.76</td> 537 </tr> 538 <tr> 539 <td>Dec, 2027</td> 540 <td>16</td> 541 <td>$25.31</td> 542 <td>$325.25</td> 543 <td>$350.56</td> 544 <td>$14,860.51</td> 545 </tr> 546 <tr> 547 <td>Jan, 2028</td> 548 <td>17</td> 549 <td>$24.77</td> 550 <td>$325.79</td> 551 <td>$350.56</td> 552 <td>$14,534.72</td> 553 </tr> 554 <tr> 555 <td>Feb, 2028</td> 556 <td>18</td> 557 <td>$24.22</td> 558 <td>$326.33</td> 559 <td>$350.56</td> 560 <td>$14,208.39</td> 561 </tr> 562 <tr> 563 <td>Mar, 2028</td> 564 <td>19</td> 565 <td>$23.68</td> 566 <td>$326.87</td> 567 <td>$350.56</td> 568 <td>$13,881.52</td> 569 </tr> 570 <tr> 571 <td>Apr, 2028</td> 572 <td>20</td> 573 <td>$23.14</td> 574 <td>$327.42</td> 575 <td>$350.56</td> 576 <td>$13,554.10</td> 577 </tr> 578 <tr> 579 <td>May, 2028</td> 580 <td>21</td> 581 <td>$22.59</td> 582 <td>$327.97</td> 583 <td>$350.56</td> 584 <td>$13,226.13</td> 585 </tr> 586 <tr> 587 <td>Jun, 2028</td> 588 <td>22</td> 589 <td>$22.04</td> 590 <td>$328.51</td> 591 <td>$350.56</td> 592 <td>$12,897.62</td> 593 </tr> 594 <tr> 595 <td>Jul, 2028</td> 596 <td>23</td> 597 <td>$21.50</td> 598 <td>$329.06</td> 599 <td>$350.56</td> 600 <td>$12,568.56</td> 601 </tr> 602 <tr> 603 <td>Aug, 2028</td> 604 <td>24</td> 605 <td>$20.95</td> 606 <td>$329.61</td> 607 <td>$350.56</td> 608 <td>$12,238.95</td> 609 </tr> 610 <tr> 611 <td>Sep, 2028</td> 612 <td>25</td> 613 <td>$20.40</td> 614 <td>$330.16</td> 615 <td>$350.56</td> 616 <td>$11,908.80</td> 617 </tr> 618 <tr> 619 <td>Oct, 2028</td> 620 <td>26</td> 621 <td>$19.85</td> 622 <td>$330.71</td> 623 <td>$350.56</td> 624 <td>$11,578.09</td> 625 </tr> 626 <tr> 627 <td>Nov, 2028</td> 628 <td>27</td> 629 <td>
629$19.30</td> 630 <td>$331.26</td> 631 <td>$350.56</td> 632 <td>$11,246.83</td> 633 </tr> 634 <tr> 635 <td>Dec, 2028</td> 636 <td>28</td> 637 <td>$18.74</td> 638 <td>$331.81</td> 639 <td>$350.56</td> 640 <td>$10,915.02</td> 641 </tr> 642 <tr> 643 <td>Jan, 2029</td> 644 <td>29</td> 645 <td>$18.19</td> 646 <td>$332.36</td> 647 <td>$350.56</td> 648 <td>$10,582.66</td> 649 </tr> 650 <tr> 651 <td>Feb, 2029</td> 652 <td>30</td> 653 <td>$17.64</td> 654 <td>$332.92</td> 655 <td>$350.56</td> 656 <td>$10,249.74</td> 657 </tr> 658 <tr> 659 <td>Mar, 2029</td> 660 <td>31</td> 661 <td>$17.08</td> 662 <td>$333.47</td> 663 <td>$350.56</td> 664 <td>$9,916.27</td> 665 </tr> 666 <tr> 667 <td>Apr, 2029</td> 668 <td>32</td> 669 <td>$16.53</td> 670 <td>$334.03</td> 671 <td>$350.56</td> 672 <td>$9,582.24</td> 673 </tr> 674 <tr> 675 <td>May, 2029</td> 676 <td>33</td> 677 <td>$15.97</td> 678 <td>$334.58</td> 679 <td>$350.56</td> 680 <td>$9,247.65</td> 681 </tr> 682 <tr> 683 <td>Jun, 2029</td> 684 <td>34</td> 685 <td>$15.41</td> 686 <td>$335.14</td> 687 <td>$350.56</td> 688 <td>$8,912.51</td> 689 </tr> 690 <tr> 691 <td>Jul, 2029</td> 692 <td>35</td> 693 <td>$14.85</td> 694 <td>$335.70</td> 695 <td>$350.56</td> 696 <td>$8,576.81</td> 697 </tr> 698 <tr> 699 <td>Aug, 2029</td> 700 <td>36</td> 701 <td>$14.29</td> 702 <td>$336.26</td> 703 <td>$350.56</td> 704 <td>$8,240.55</td> 705 </tr> 706 <tr> 707 <td>Sep, 2029</td> 708 <td>37</td> 709 <td>$13.73</td> 710 <td>$336.82</td> 711 <td>$350.56</td> 712 <td>$7,903.73</td> 713 </tr> 714 <tr> 715 <td>Oct, 2029</td> 716 <td>38</td> 717 <td>$13.17</td> 718 <td>$337.38</td> 719 <td>$350.56</td> 720 <td>$7,566.35</td> 721 </tr> 722 <tr> 723 <td>Nov, 2029</td> 724 <td>39</td> 725 <td>$12.61</td> 726 <td>$337.94</td> 727 <td>$350.56</td> 728 <td>$7,228.40</td> 729 </tr> 730 <tr> 731 <td>Dec, 2029</td> 732 <td>40</td> 733 <td>$12.05</td> 734 <td>$338.51</td> 735 <td>$350.56</td> 736 <td>$6,889.90</td> 737 </tr> 738 <tr> 739 <td>Jan, 2030</td> 740 <td>41</td> 741 <td>$11.48</td> 742 <td>$339.07</td> 743 <td>$350.56</td> 744 <td>$6,550.82</td> 745 </tr> 746 <tr> 747 <td>Feb, 2030</td> 748 <td>42</td> 749 <td>$10.92</td> 750 <td>$339.64</td> 751 <td>$350.56</td> 752 <td>$6,211.19</td> 753 </tr> 754 <tr> 755 <td>Mar, 2030</td> 756 <td>43</td> 757 <td>$10.35</td> 758 <td>$340.20</td> 759 <td>$350.56</td> 760 <td>$5,870.98</td> 761 </tr> 762 <tr> 763 <td>Apr, 2030</td> 764 <td>44</td> 765 <td>$9.78</td> 766 <td>$340.77</td> 767 <td>$350.56</td> 768 <td>$5,530.21</td> 769 </tr> 770 <tr> 771 <td>May, 2030</td> 772 <td>45</td> 773 <td>$9.22</td> 774 <td>$341.34</td> 775 <td>$350.56</td> 776 <td>$5,188.87</td> 777 </tr> 778 <tr> 779 <td>Jun, 2030</td> 780 <td>46</td> 781 <td>$8.65</td> 782 <td>$341.91</td> 783 <td>$350.56</td> 784 <td>$4,846.97</td> 785 </tr> 786 <tr> 787 <td>Jul, 2030</td> 788 <td>47</td> 789 <td>$8.08</td> 790 <td>$342.48</td> 791 <td>$350.56</td> 792 <td>$4,504.49</td> 793 </tr> 794 <tr> 795 <td>Aug, 2030</td> 796 <td>48</td> 797 <td>$7.51</td> 798 <td>$343.05</td> 799 <td>$350.56</td> 800 <td>$4,161.44</td> 801 </tr> 802 <tr> 803 <td>Sep, 2030</td> 804 <td>49</td> 805 <td>$6.94</td> 806 <td>$343.62</td> 807 <td>$350.56</td> 808 <td>$3,817.82</td> 809 </tr> 810 <tr> 811 <td>Oct, 2030</td> 812 <td>50</td> 813 <td>$6.36</td> 814 <td>$344.19</td> 815 <td>$350.56</td> 816 <td>$3,473.63</td> 817 </tr> 818 <tr> 819 <td>Nov, 2030</td> 820 <td>51</td> 821 <td>$5.79</td> 822 <td>$344.77</td> 823 <td>$350.56</td> 824 <td>$3,128.87</td> 825 </tr> 826 <tr> 827 <td>Dec, 2030</td> 828 <td>52</td> 829 <td>$5.21</td> 830 <td>$345.34</td> 831 <td>$350.56</td> 832 <td>$2,783.52</td> 833 </tr> 834 <tr> 835 <td>Jan, 2031</td> 836 <td>53</td> 837 <td>$4.64</td> 838 <td>$345.92</td> 839 <td>$350.56</td> 840 <td>$2,437.61</td> 841 </tr> 842 <tr> 843 <td>Feb, 2031</td> 844 <td>54</td> 845 <td>$4.06</td> 846 <td>$346.49</td> 847 <td>$350.56</td> 848 <td>$2,091.12</td> 849 </tr> 850 <tr> 851 <td>Mar, 2031</td> 852 <td>55</td> 853 <td>$3.49</td> 854 <td>$347.07</td> 855 <td>$350.56</td> 856 <td>$1,744.05</td> 857 </tr> 858 <tr> 859 <td>Apr, 2031</td> 860 <td>56</td> 861 <td>$2.91</td> 862 <td>$347.65</td> 863 <td>$350.56</td> 864 <td>$1,396.40</td> 865 </tr> 866 <tr> 867 <td>May, 2031</td> 868 <td>57</td> 869 <td>$2.33</td> 870 <td>$348.23</td> 871 <td>$350.56</td> 872 <td>$1,048.17</td> 873 </tr> 874 <tr> 875 <td>Jun, 2031</td> 876 <td>58</td> 877 <td>$1.75</td> 878 <td>$348.81</td> 879 <td>$350.56</td> 880 <td>$699.36</td> 881 </tr> 882 <tr> 883 <td>Jul, 2031</td> 884 <td>59</td> 885 <td>$1.17</td> 886 <td>
886$349.39</td> 887 <td>$350.56</td> 888 <td>$349.97</td> 889 </tr> 890 <tr> 891 <td>Aug, 2031</td> 892 <td>60</td> 893 <td>$0.58</td> 894 <td>$349.97</td> 895 <td>$350.56</td> 896 <td>$0.00</td> 897 </tr> 898 899 </table> 900 <table class="table table-bordered"> 901 <tr> 902 <td colspan="7"><br /></td> 903 </tr> 904 <tr class="header"> 905 <td colspan="7"><h3>Compare Monthly vs. Bi-weekly</h3></td> 906 </tr> 907 <tr class="header"> 908 <th width="260">Payment Frequency</th> 909 <th>Monthly</th> 910 <th colspan="5">Bi-weekly</th> 911 </tr> 912 <tr> 913 <td>Payments / Year</td> 914 <td>12</td> 915 <td colspan="5">26</td> 916 </tr> 917 <tr> 918 <td>Each Payment</td> 919 <td>$350.56</td> 920 <td colspan="5">$175.28</td> 921 </tr> 922 <tr> 923 <td>Total Interest</td> 924 <td>$1,033.31</td> 925 <td colspan="5">$940.79</td> 926 </tr> 927 <tr> 928 <td>Total Payment</td> 929 <td>$21,033.31</td> 930 <td colspan="5">$20,940.79</td> 931 </tr> 932 <td>Total Savings</td> 933 <td>$0</td> 934 <td colspan="5">$92.52</td> 935 </tr> 936 <tr> 937 <td>Payoff Date</td> 938 <td>Aug, 2031</td> 939 <td colspan="5">Apr, 2031</td> 940 </tr> 941 </table> 942 </div> 943<br />
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955 956<br /><br /> 957 958<h2>Auto Loan Amortization Calculator</h2> 959<p>The <strong>auto loan calculator</strong> is able to calculate any type of auto loan and generate an auto loan amortization schedule with principal, interest, and balance for each payment.</p><br /> 960<h2>Car Loan Amortization Schedule With Extra Payments</h2> 961<p>The <strong>car loan amortization schedule with extra payments</strong> gives borrowers the options to see how much they can save by making extra payments toward the principal of their car loan, and how much faster they can pay off the auto loan compared to the default payment schedule.</p><br /> 962<h2>How do car loans work?</h2> 963<p>A car loan is a loan that is used to finance the purchase of a car. When a borrower takes out a loan, he gets a lump sum payment from the lender and he needs to pay it back over time with interest. 964 965Most car loans are secured using the car as collateral meaning if a borrower defaults on the loan, the lender would take his car. 966 967There are three variables that every borrower should be aware of before applying for an auto loan, the loan amount, interest rate, and the term. Borrowers with good credit scores will get the most competitive rates from lenders. 968 969<strong>Loan amount</strong> - the size of the car loan 970 971<strong>Interest rate</strong> - the interest payment is based on the interest rate you get getting 972 973<strong>Term</strong> - the number of years that it takes the borrower to repay the loan 974 975These 3 variables determine the monthly payment and the total interest payment over the course of the loan. 976 977A lower monthly payment doesn't mean a borrower would save money if their term is longer. For example, the following chart shows two loans of $20,000, one with an interest rate of 4.5% and a 5-year term (Loan 1), the other with an interest rate of 5.15% and a 7-year term (Loan 2). 978 979Although the monthly payment is lower for Loan 2 ($284.09 per month), the overall costs are much higher with a total interest of $3,863.56 which is $1,491.94 more than Loan 1.</p><br /> 980<table class="table table-bordered"> 981<tbody> 982<tr class="header"> 983<td colspan="7"> 984<h3>Compare Auto Loans</h3> 985</td> 986</tr> 987<tr class="header"> 988<th colspan="2" width="200"></th> 989<th colspan="2">Loan 1</th> 990<th colspan="3">Loan 2</th> 991</tr> 992<tr> 993<td colspan="2">Loan Amount</td> 994<td colspan="2">$20,000</td> 995<td colspan="3">$20,000</td> 996</tr> 997<tr> 998<td colspan="2">Interest Rate</td> 999<td colspan="2">4.5%</td> 1000<td colspan="3">5.15%</td> 1001</tr> 1002<tr> 1003<td colspan="2">Term</td> 1004<td colspan="2">5</td> 1005<td colspan="3">7</td> 1006</tr> 1007<tr> 1008<td colspan="2">Monthly Payments</td> 1009<td colspan="2">$372.86</td> 1010<td colspan="3">$284.09</td> 1011</tr> 1012<tr> 1013<td colspan="2">Total Interest</td> 1014<td colspan="2">$2,371.62</td> 1015<td colspan="3">$3,863.56</td> 1016</tr> 1017<tr> 1018<td colspan="2">Total Payment</td> 1019<td colspan="2">$22,371.62</td> 1020<td colspan="3">$23,863.56</td> 1021</tr> 1022</tbody> 1023</table> 1024<br /> 1025<h2>How to calculate car payments?</h2> 1026<p>To calculate monthly car payments, we need to use the formula below. 1027 1028<strong>Monthly Payment = (P x i) / (1 - 1 / (1 + i)^ n)</strong>, where 1029 1030P = car loan amount 1031 1032i = monthly interest rate in decimal 1033 1034n = number of months to pay off the loan</p>
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1046 1047<h3>Car Payment Example</h3> 1048<p>Let's calculate the monthly payment for a car loan of $15,000 with a 5% interest rate and a 5-year term. 1049 1050Monthly Payment = (15000*5/12/100)/ (1 - 1/(1+5/12/100)^60) 1051 1052Monthly Payment = (15000*0.004167)/ (1 - 1/(1+0.004167)^60) 1053 1054Monthly Payment = 62.505/(1 - 1/(1.004167)^60) 1055 1056Monthly Payment = 62.505 / ( 1 - 1/ 1.283) 1057 1058Monthly Payment = 62.505 / (1 - 0.7794) 1059 1060Monthly Payment = 62.505 / 0.2206 1061 1062Monthly Payment = $283.07 1063 1064Hence, $283.07 is the amount that borrowers pay each month until the car loan is paid off in 5 years.</p><br /> 1065<h2>How to calculate car loan interest?</h2> 1066<p>The car loan interest rate is calculated based on the interest rate and the remaining balance. The formula for calculating interest payment is given below. 1067 1068<strong>Monthly interest = (12/interest rate) x loan balance</strong> 1069 1070Monthly payments are divided into two portions, one for principal and the other for interest payments. The monthly payments stay the same over the course of the loan, but the interest and principal are recalculated each month. 1071 1072If we look at the car <a href="https://amortizationschedule.org/">amortization schedule</a> for our previous example, the auto loan of $15,000 with a 5% interest rate and a 5-year term, we can see the interest payment declines every month because the loan balance decreases as more principal is paid. Since monthly payment is made up of principal and interest, when interest payment decreases, principal increases.</p><br /> 1073<table id="amortization" class="table table-bordered"> 1074<tbody> 1075<tr class="header"> 1076<td colspan="7"> 1077<h3>Amortization Schedule</h3> 1078</td> 1079</tr> 1080<tr> 1081<th align="left">Payment Date</th> 1082<th align="left">Payment #</th> 1083<th align="left">Interest Paid</th> 1084<th align="left">Principal Paid</th> 1085<th align="left">Total Payment</th> 1086<th align="left">Remaining Balance</th> 1087</tr> 1088<tr> 1089<td>Sep, 2022</td> 1090<td>1</td> 1091<td>$62.50</td> 1092<td>$220.57</td> 1093<td>$283.07</td> 1094<td>$14,779.43</td> 1095</tr> 1096<tr> 1097<td>Oct, 2022</td> 1098<td>2</td> 1099<td>$61.58</td> 1100<td>$221.49</td> 1101<td>$283.07</td> 1102<td>$14,557.94</td> 1103</tr> 1104<tr> 1105<td>Nov, 2022</td> 1106<td>3</td> 1107<td>$60.66</td> 1108<td>$222.41</td> 1109<td>$283.07</td> 1110<td>$14,335.53</td> 1111</tr> 1112<tr> 1113<td>.....</td> 1114<td>.....</td> 1115<td>.....</td> 1116<td>.....</td> 1117<td>.....</td> 1118<td>.....</td> 1119</tr> 1120<tr> 1121<td>.....</td> 1122<td>.....</td> 1123<td>.....</td> 1124<td>.....</td> 1125<td>.....</td> 1126<td>.....</td> 1127</tr> 1128<tr> 1129<td>.....</td> 1130<td>.....</td> 1131<td>.....</td> 1132<td>.....</td> 1133<td>.....</td> 1134<td>.....</td> 1135</tr> 1136<tr> 1137<td>Jun, 2027</td> 1138<td>58</td> 1139<td>$3.51</td> 1140<td>$279.56</td> 1141<td>$283.07</td> 1142<td>$562.62</td> 1143</tr> 1144<tr> 1145<td>Jul, 2027</td> 1146<td>59</td> 1147<td>$2.34</td> 1148<td>$280.72</td> 1149<td>$283.07</td> 1150<td>$281.89</td> 1151</tr> 1152<tr> 1153<td>Aug, 2027</td> 1154<td>60</td> 1155<td>$1.17</td> 1156<td>$281.89</td> 1157<td>$283.07</td> 1158<td>$0.00</td> 1159</tr> 1160</tbody> 1161</table> 1162<br /> 1163<h2>What is APR on a car?</h2> 1164<p>A car loan's annual percentage rate or APR is the borrowing costs expressed in percentage. 1165 1166The interest rate determines how much the borrower pays in interest payments. There may be other costs involved in getting a loan, such as application fees and closing costs. The APR includes all the costs plus interest costs. Therefore, the APR is usually higher than the interest rate.</p><br />
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1178 1179<h2>How to get an auto loan?</h2> 1180<h3>1. Check Credit Report</h3> 1181<p>Credit score and income determine how much you can borrow and at what interest rate. The higher your credit score, the better. 1182 1183Therefore, before applying for an auto loan, you should check your credit report to see if there are any errors or unusual activities that lower your credit score. 1184 1185If you see any error, you should contact the 3 credit bureaus, Equifax, Experian, and TransUnion, and try to resolve the issues before applying for an auto loan.</p><br /> 1186<h3>2. Compare Rates & Costs From Multiple Lenders</h3> 1187<p>You can get an auto loan from any bank, credit union, online auto lender, or dealership financing. 1188 1189You want to get and compare auto quotes from multiple lenders and see which one offers you the best interest rate and the least fees. Dealership financing is the most convenient, but it may not offer the best APR as dealerships often markup their rates. 1190 1191Banks usually offer competitive rates for auto loans. You might want to check with your own bank before you reach out to other lenders. Your bank might even give you a lower rate when you set up auto payment with your checking account. 1192 1193You can also get auto quotes from online lenders and ask around the banks to see if they can beat this rate. Lenders may be willing to lower their interest rates to get your business if you have good credit scores.</p><br /> 1194<h3>3. Get Preapproved For a Car Loan</h3> 1195<p>After you've done your research and decided to get your car loan from a bank or credit union, you should get pre-approved for a car loan from the bank. 1196 1197Getting preapproved for a car loan has many advantages. It will help you find the bank that will give you the best interest rate as the banks will need to pull your credit score and review your financial information. Depending on your employment history, income, and credit score, they will let you know the size of your loan and the interest rate that you will be getting. 1198 1199Preapproved for a car loan will also have more bargaining power at the dealership, and protects you from markup rates from dealerships. 1200 1201The only downside to a preapproved loan is that lenders will need a hard pull for your credit score meaning it will lower your credit score temporarily. Usually, your credit score will rise again in 1-3 months.</p><br /> 1202<h3>4. Find Your Car</h3> 1203<p>After you get preapproved for a car loan, you know exactly how much money you can borrow. You can now set your budget and look for cars that are within your budget. 1204 1205Shop around the different dealerships and see what kind of car you like. Once you decide the exact car you want to buy, call multiple dealerships that sell this brand and model, ask them how much they are selling, and ask for their best price. 1206 1207Make sure you ask for their best price on the car, not the lowest monthly payments. Many car salespeople will try to convince you to buy their car because they give you the lowest monthly payments. As we learned earlier, the lower monthly payment doesn't translate into the lowest costs of buying a car.</p><br /> 1208<h2>5. Applying For The Car Loan</h2> 1209<p>Now, it is time to finalize your car loan or actually apply for the car loan. Since you are already pre approved, the process is much faster. 1210 1211The banks have already checked your financial background and credit score. They have everything that they need to know other than the vehicle you are buying. 1212 1213Follow the lender's instructions on completing the auto loan and the purchase of your vehicle. Read the terms of your car loan and make sure that there are no hidden fees or prepayment penalties in case you want to pay off your loan earlier.</p>
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