Date | Beginning Balance | Interest | Principal | Ending Balance |
About
The Auto Loan Calculator is mainly intended for car purchases within the
U.S. People outside the U.S. may still use the calculator, but please
adjust accordingly. If only the monthly payment for any auto loan is
given, use the Monthly Payments tab (reverse auto loan) to calculate the
actual vehicle purchase price and other auto loan information.
Most people turn
to auto loans during a vehicle purchase. They work as any generic, secured
loan from a financial institution does with a typical term of 36, 60, 72,
or 84 months in the U.S. Each month, repayment of principal and interest
must be made from borrowers to auto loan lenders. Money borrowed from a
lender that isn't paid back can result in the car being legally
repossessed.