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Loan Carrying Cost: Interest Reduction Techniques

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You can use this calculator to answer the following questions:

- How much car can I afford?
- How much will my car payment be?
- What car loan rate do I need?
- How much to put down on a car?
- How many months to finance a car?

Use this calculator to calculate loan details when the down payment is expressed as an amount. (For a calculator that works with a down payment expressed in percent, then use our mortgage loan calculator.)

Unlike our general loan or simple loan calculators, this calculator will allow you to have more than one unknown value in certain cases.

To indicate an unknown value, enter "0" (zero).

You can enter the car price (or other purchase price), the down payment amount available, total number of periods and the interest rate. When you click on "Calc", the amount of the loan and the monthly payment will be calculated.

If you enter the loan amount and "0" for the down payment amount, then the calculator will calculate how much down payment you need.

If you enter "0" for the price of the car, a down payment amount, "0" for the amount of loan, the total periods, the interest rate and the payment you can afford, the calculator will calculate the amount of the loan and the price you can afford to pay for the car. You can use this calculation to tell you what you can afford to pay and borrow and still stay within your budget.

Mortgage Calculator. It too accepts six inputs, but it asks for a percentage for the down payment rather than an amount.

You may also like theThis auto loan calculator is not limited to solving car loan problems of course. It can be a useful tool whenever money is borrowed to purchase an item requiring a down payment.

Please tell me how you use this calculator. Are you using it personally or professionally? What feature is important to you? If it didn't meet your needs, why? Your feedback will help me make improvements. Complete sentences aren't necessary! :)

I’m looking for something similar to this – but with interest rate generated automatically (likely based on credit score).

Is this something you have done or seen?

Hi, no, sorry to say, it’s not something I’ve seen. Perhaps it’s available. But even given a specific credit score, the rate would vary from lender to lender, so I imagine a site would have to have connectivity and share data with lenders to auto fill in an interest rate.

Good job.

Thank you for the site and calculations,

will be very helpful if you can show the formula on those steps, on how you do weekly, bi-weekly part.

Thank you

Great calculator, glad i found this. It lets me show my nephew and his wife what happens when you adjust any number…

Thank you! I’m happy you found it too. I’m not sure why, but this is one of the least used calculators on this site. It needs some love. 🙂

This would have worked for me if I could enter the date the loan began and the date the payments began. Unfortunately I cannot find a place to enter those things. I tried using the amortization schedule but it will NOT accept weekly payments. Every time I tries to enter the weekly payment it changed it to monthly and the loan cost hundred of thousands of dollars.

I loved the old program I purchased years ago from you. I wish I could still get it but that computer bit the dust.

The amortization schedule does accept weekly payments until you have it set for "Canadian" amortization method. If you do, then please set it to normal and set the compounding to semi-annual and the payment frequency to weekly.