Car Finance Calculator
This online calculator will help you figure out how much your overall loan will be as well as your monthly car payments. This tool is only a guide, please refer to a financial agent for true values as there are parameters we cannot include within this tool that effect a loan. Enter the loan amount, the annual interest rate, the term of the loan, the first payment date, and the payment frequency. See notes at the bottom of the page for more information. Calculate   Print
	Loan Amount
	Annual Interest Rate
	Loan Term (Years)
	Date of First Payment
	Frequency of Payment			Annually Semi-Annually Quarterly Bi-Monthly Monthly Bi-Weekly
	Rate (per period)
	Payment (per period)
	Number of Payments
	Total Payments
	Total Interest
Payment Schedule
No.	Due Date	Payment	Interest	Principal	Balance
Payment Frequency Comparisons
Frequency		Payment*	Interest**	Total
* The payment due per frequency period
** The total amount of interest paid
Note: The above tables do not account for rounding of the payment!

Help

Term of Loan: Mortgage loans usually have 15 or 30-year terms. Auto loans are usually between 2 and 5 years. For a 6-month term, enter 0.5.

First Payment Date: Assumes that the first payment date is at the end of the first period.

Payment (per period): This is the amount that you would pay by the due date each period. Although the payment is rounded, this calculator does not account for rounding, so the balance may be off by a few cents or dollars.

Total Interest: This is the total amount of interest that you would pay, assuming that you make all of your regular payments.

What does the "Comparison of Payment Frequency Options" show? This table lets you compare the payments, and more importantly, the total amount that you would pay, without having to manually keep changing the payment frequency in the amortization calculator. The point is that making more frequent payments usually results in a lower total paid. By the way, bi-weekly payments are usually only allowed when using direct deposit.