 Online Calculators

# Car Loan Payment Calculator

Car Loan Calculator

Monthly Payment: $393.65 Actual Loan Amount:$ 13,110.00
Create an Amortization Schedule

## Calculator Use

Use this calculator to find your monthly payment on a car with the car price, down payment and any trade in values factored in.

Sales taxes by state

For a simple calculation without down payment and trade-in, use this car loan calculator.

Car Price
Cost of the car without any adjustments
Sales Tax
How much tax will you be charged on this car price. Sales taxes by state
Down Payment
The amount of cash you will be able to put toward this purchase and not borrow in the loan
What will the dealer give you as cash value for any trade in vehicle you will be using in this transaction
Car Loan Term
How long will you take to pay back the loan in years or months?
Interest Rate
The annual stated rate (nominal) of your loan.
Compounding
Assumed to be coincide with payments, monthly.  When payment and compounding frequency do not coincide, use the Loan Calculator with Compounding.

Calculating the Monthly Payment

To find the monthly payment we solve the present value equation for PMT:

$$PMT=\frac{PVi(1+i)^n}{(1+i)^n-1}$$

where PV is the actual loan amount, i is the interest rate per period and n is the number of periods.  i and n must both be in years or both in months.

Cite this content, page or calculator as:

Furey, Edward "Car Loan Payment Calculator" at https://www.calculatorsoup.com/calculators/financial/car-loan-payment-calculator.php from CalculatorSoup, https://www.calculatorsoup.com - Online Calculators