Help me compare auto loans with different terms.
Calculate and compare (formatted side by side) the payment amounts for up to 4 auto loans. Use this calculator to help compare interest rates or see the effect of putting more money as a down payment. This calculator is also good for comparing lower-interest deals with cash back offers. (“Should I take the cash rebate and get a loan with a higher interest rate?”) You can also see quickly what happens if you apply your trade-in and/or dealer rebate to the down payment or pocket it for something else.
Title: A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Lender: The name of your potential lender. This field is not required but may help if you have printed out several loan scenarios.
Vehicle Price: The sticker price or negotiated price of the vehicle you would like to purchase.
Sales Tax: The sales tax percentage you will pay on this purchase.
Other Financed Charges: Sticker price add-on charges to be financed with your auto loan. These may include license plates, vehicle registration, luxury tax, extended warranty policy, dealer prep charges, or destination charges, etc.
Cash Down Payment: Any cash amount you plan to apply as a down payment to reduce your loan or lease amount.
Trade-In Value: Any vehicle trade-in amount you plan to apply as a down payment to reduce your loan or lease amount.
Dealer Rebate: Any dealer (or manufacturer) rebate or matching down payment amount you plan to apply as a down payment to reduce your loan or lease amount.
Interest Rate: The annual percentage rate you will pay for this loan.
Length of Loan: How long you will pay on this loan. Also choose whether ‘Length of Loan’ is years or months.
Additional Principal: The additional amount you will pay each month (over the required ‘Monthly Payment’ amount) to pay down the principal on your loan.
Total Vehicle Price: The total vehicle price once ‘Sales Tax Amount’ and ‘Other Financed Charges’ are added.
Total Down Payments: The total down payment amount you plan to apply to your purchase to reduce the loan amount.
Monthly Payment: Principal + Interest + Additional Principal (where applicable) to be paid each month.
Loan Amount: Your total auto loan amount once ‘Sales Tax’ and ‘Other Financed Charges’ are added and ‘Total Down Payments’ is subtracted.
Total Interest: Total amount of interest you will pay over ‘Length of Loan’.
Total Paid: Total amount of principal + interest you will pay over ‘Length of Loan’.
Payoff Time: Amount of time until the loan is paid off.
Number of Payments: The number of payments you will make to pay off the loan.
Annual Cost: The amount of money you will pay each year for this loan.
Sales Tax Amount: The amount of sales tax you will pay on this purchase.