This auto loan calculator - is a tool that can be used to determine the monthly instalments that must be paid in order to pay off a loan, used to purchase an auto, within a certain period of time. The car payment calculator takes into consideration price of the vehicle, loan term, interest rate and repayments start date (for general loan, use Amortization-Calc's loan calculator). The tool can help a person decide whether he/she can afford to take out the loan and whether he/she should consider paying more per monthly instalment. Doing so will decrease the total amount of time taken to pay off the auto loan, thus decreasing the total cost.
This car loan calculator should only be used to estimate your repayments since it doesn't include taxes or insurance.