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NGAuto loan calculator
Our auto loan calculator helps you estimate your monthly payments when financing a vehicle.
Page written by AI. Reviewed internally on July 23, 2024.
Our auto loan calculator helps you estimate your monthly payments when financing a vehicle.
Page written by AI. Reviewed internally on July 23, 2024.
This calculator is intended for illustration purposes only and exact payment terms should be agreed with a lender before taking out a loan.
Your results
Your estimated monthly payment
$0
Total principal paid
$0
Total interest paid
$0
Borrow $To calculate auto loan repayments, you can follow these steps:
Gather Information: Collect details about the loan, including the loan amount, interest rate (APR), and loan term (in months).
Convert APR to Monthly Interest Rate: Divide the annual interest rate (APR) by 12 to get the monthly interest rate. For example, if the APR is 6%, the monthly interest rate would be 0.06 divided by 12, which equals 0.005 (or 0.5%).
Calculate Monthly Interest: Multiply the loan balance by the monthly interest rate to find out how much interest you’ll pay each month.
Determine Monthly Payment: Use our auto loan calculator to compute the monthly payment. The formula involves the loan amount, monthly interest rate, and loan term.
Finalize Calculation: Once you have the monthly payment, remember to add any other fees or charges that might be part of the loan agreement.
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