Check out our great CD Rate - 5-7 Months at 4.60%! Click Here for more details.
Independent & Strong SINCE 1902.

Auto Loan Calculator

Calculations are only for estimate payments, actual payments may vary. Calculators are provided for illustrative purposes based on a user’s input and accuracy is not guaranteed.

Purchase & Financing Information

Auto Loan Payment Information

Down Payment
Amount Financed
Total Monthly Payment
Total Amount of Payments
Explanation

The down payment = The price of the automobile multiplied by the percentage down divided by 100 (for 5% down becomes 5/100 or 0.05)

The interest rate = The annual interest percentage divided by 100

The monthly factor = The result of the following formula:

The monthly interest rate

The month term of the loan

Months

The monthly payment is figured out using the following formula: Monthly Payment =

The amortization breaks down how much of your monthly payment goes towards the bank's interest, and how much goes into paying off the principal of your loan.

Amortization For Monthly Payment: $ over Months