What is the Car Loan Calculator?

The Car Loan Calculator helps buyers estimate their monthly car payments and the total cost of financing a vehicle. By entering the loan amount, annual interest rate, and loan term, the tool calculates the monthly installment along with the total amount payable and total interest charged. This allows users to compare different loan options, understand the long-term cost of a car loan, and plan their budget more effectively before making a purchase.

How to Use:

1. Enter Loan Amount: Input the total amount you want to borrow for the car.
2. Enter Interest Rate: Provide the annual interest rate in percentage.
3. Enter Loan Term: Type the number of years you plan to take to repay the loan.
4. Click “Calculate”: The calculator instantly computes your monthly payment, total repayment amount, and total interest.
5. Review Result: The output displays a complete breakdown so you can choose the most affordable car financing option with confidence.