To use the car loan calculator, enter some details about your loan:
- Vehicle cost: The amount you want to borrow to buy the car. If you plan to make a trade-in, subtract that amount from the car’s price to determine the loan amount.
- Down payment: The lump sum you are able to pay at the time of purchase, this can bring your overall monthly cost down. If you don’t have any money available up-front, you can enter zero.
- Interest rate: The cost to borrow the money, expressed as a percentage of the loan. This rate varies based on a few factors, including your credit rating. To find out what rate you’re eligible for, click here and fill out our 2-minute application form.
- Term: The amount of time you have to repay the loan. In general, the longer the term, the lower your monthly payment, but the higher the total interest paid will be. On the other hand, the shorter the term, the higher your monthly payment, and the lower the total interest paid will be.
- Payment Period: Choose the payment period you want to see the cost for.
After you enter the details, click “calculate”. The auto loan payment calculator automatically displays the results for the payment period you selected.
Interested in taking the next step? Click the button below to fill out a quick online form to get started.