#car loan repayment calculator
Understanding the Results
There are four main sections in the results:
This section gives you a brief summary of the proposed auto loan which includes the expected monthly payment, the total cost of the loan, total interest paid over the life of the loan and the date that the loan will be paid off in full. If you are simply trying to determine the monthly payment then this section is all you will need.
This pie chart provides a visualization of the total costs showing both the principal and interest paid over the term of your contract.
Principal Balances Chart
This chart shows you the balance of your loan at the end of each month over the term. Hovering the mouse over the line will popup a tooltip with the exact balance amount.
The final section is the amortization tables, there are three tabs here, the first shows your car loan amortized yearly, the second shows the monthly amortization for people who need full details and the third provides some further information breaking down all of the costs individually.
Each row on these amortization tables gives you a snapshot of your loans position at the end of the specified year or month and tells you exactly how much principal and interest you would pay, and the remaining balance at that point in time.
While this auto loan calculator should be highly accurate and give you a solid idea about the costs of a proposed car loan, it is not professional advise and should not be relied upon when making your final purchasing decision. Always talk to a professional directly and fully understand what you are getting into before signing a loan contract.