Auto Loan Calculator Online

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Auto Loan Calculator

Auto Loan Calculator

Auto Loan is a types of short term personal loan.Monthly Payment Equal to (Loan amount)the amount of money multiple(Interest rate%) is given for a yearly period.

Formula us,

Monthly payment = (Loan amount) * Interest rate / 12) / (1 – (1 + (Interest rate / 12)) ^ (- Loan term))

let us consider,

  •  Interest rate is given for a yearly period.
  •  Loan amount is the amount of money .

Loan Amount

Loan amount equal to the final purchasing price less than the cash you have to spend on a car less than the value of your current car multiple number of value 1 added to sales tax rate(%)

The formula us,

Loan amount = Price of the car – Money you have – (Trade in value * (1 + Sales tax))

let us consider,

  • Price of the car – the final purchasing price,
  • Money you have – the cash you have to spend on a car,
  • Trade in value – the value of your current car,
  • Sales tax – sales tax rate

Calculate the Auto loan

Monthly payment = (Loan amount) * Interest rate / 12) / (1 – (1 + (Interest rate / 12)) ^ (- Loan term))

Loan amount ($12,200) , Interest Rate (4%) , Long term(36)

Monthly Payment =($12,200) * (4% / 12) / (1 – (1 + (4% / 12)) ^ (-36))

Monthly Payment is $360.19

 

 

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