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A car loan calculator determines monthly payments, total cost, and total interest for an auto loan. The same amortisation formula used for mortgages applies: each payment covers accumulated interest first, then reduces the principal.
공식
- M
- P × r(1+r)^n / ((1+r)^n − 1) — P × r(1+r)^n / ((1+r)^n − 1)
- P
- loan principal — loan principal
단계별 가이드
- 1Monthly payment M = P × r(1+r)^n / ((1+r)^n − 1)
- 2P = loan principal, r = monthly interest rate, n = loan term in months
- 3APR includes fees — compare APR, not just the stated interest rate
- 4Making even small extra payments can save significantly on interest
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What is Car Loan?
A car loan calculator determines monthly payments, total cost, and total interest for an auto loan. The same amortisation formula used for mortgages applies: each payment covers accumulated interest first, then reduces the principal
How accurate is the Car Loan calculator?
The calculator uses the standard published formula for car loan. Results are accurate to the precision of the inputs you provide. For financial, medical, or legal decisions, always verify with a qualified professional.
What units does the Car Loan calculator use?
This calculator works with inches. You can enter values in the units shown — the calculator handles all conversions internally.
What formula does the Car Loan calculator use?
The core formula is: Monthly payment M = P × r(1+r)^n / ((1+r)^n − 1). Each step in the calculation is shown so you can verify the result manually.