* These calculations are for reference purposes only. All figures are estimates only and are not guaranteed as accurate. Always consult a professional financial advisor.
Determining your car payments can be a real pain in the neck, especially if you're not good at calculating interest rates. That's why, in addition to the many other useful tools we provide through our website, we have developed a car payment calculator, which will give you an idea of what your expected car payments would be based off the purchase price and interest rate of the loan. This can be very useful to give you a ballpark idea of how much money a car will cost you per month, which can help tremendously with budgeting for your next car purchase.
The calculator is simple—just punch in the purchase price, the amount that you expect to use as a down payment, the interest rate on the loan (or A.P.R.), and the length of the loan (usually 60 months). Once all that information is put into the form, it will spit out your estimated monthly payment. Obviously, there may be some variance if any of those numbers is off, but this car payment calculator can give you a great idea of what you should expect to spend every month.