The Auto Loan Calculator helps you analyze auto loans. How much can you afford to borrow for how long at what interest rate?

• Enter ballpark values by clicking on and dragging the diamond-shaped sliders left or right. Enter exact numbers by clicking on the number in the box on the right and type your number (no commas).
• Solve for different variables by clicking on a label name. A red check mark appears on the label of the variable for which you are solving. You cannot change red-checked values.
• The results of your calculations show in the box at the bottom of the calculator.
• Click on tabs for details and for more options.

The Loan Calculator Tab allows you to enter basic information used to calculate your loan.

Loan Amount

Click this button to figure out the biggest loan you can afford given the interest rate, the loan duration and the monthly payment you can afford.

Loan Period

Click on this button to figure out how long your debt will last. You would typically solve for the loan period to figure out how an increased monthly payment might reduce the loan term.

Annual Rate

Click on this button to figure out how what happens to the interest rate when you change other loan variables. Can you afford the rate? Can you afford to pay a higher rate?

Monthly Payment

Click on this button to figure out what affects the monthly payment.

Total Interest Paid

This amount reflects all the interest you have to pay over the life of the loan.

Results

The content of the results box changes depending upon which variable has the red check mark on it and upon the amounts you enter in the other variables.

The Payment Schedule Tab shows the amortization schedule for the chosen loan. Each row shows a payment number, the interest, the principal and the balance of the loan at that payment number.

The Payment Chart Tab shows an area graph with payment values and the distribution of interest, principal and extra principal (if any). Grab the diamond-shaped slider at the bottom of the graph and move it to a payment number to get a readout of interest, principal and extra principal for any one loan period.

The pie chart shows you the cumulative distribution of interest, principal and extra payments (if any) at the end of your loan.

Extra Principal

Extra Principal is an amount you include with your payment to be used explicitly for paying down the principal, not the interest. The faster you pay down your principal, the shorter your loan will be and the less total interest you have to pay.