Buying a new car can be a stressful process if you haven’t done your homework. One of the best ways to make getting your next car a pain-free experience is to find out how much car you can actually afford, which makes a car loan calculator an invaluable tool.
How to use a car loan calculator
Before you get started, be sure to have the information below handy so you can enter the information in their respective fields. This calculator will give you a ballpark figure of what you can expect for a monthly car payment on your new car.
- Car price
- Trade-in value
- Down payment
- Interest rate
- Length of loan
Bear in mind that the figure in the calculator is not dead-on accurate. It doesn’t account for taxes, discounts / rebates, and so on. Our car loan calculator is meant to be a guide to help you find a car you can afford.