Auto Loan Calculator Definition
This is an Auto Loan Calculator that you can use to calculate your payment for your auto loan. By simply entering the amount of the loan, the interest rate, and how many years you have to pay it back, this calculator will calculate how many payments you will need to make and the monthly payment amount in dollars.
At the top of the Auto Loan Calculator, you should enter the total purchase price of your auto loan in dollars. Next you need to enter the annual interest rate. Below this there is a box for the term of payment. Here you enter how many years you have to complete this loan. Once you have completed this information, you need to click calculate on the Auto Loan Calculator. The calculator will automatically tell you the number of monthly payments you will need to make to pay of this loan and at the bottom it shows the dollar amount of these monthly payments. If there is an error in these two boxes, check the purchase price, annual interest rate, and term, then press calculate again. This should fix the errors.