CI Car loan calculator

This car loan calculator helps buyers determine monthly payments and total loan costs before visiting a dealership. It uses the standard PMT formula to compute payments based on loan amount, term, and interest rate. The tool is designed for anyone shopping for a new or used vehicle who wants to understand how different loan terms and rates affect their budget.

• Monthly Payment Calculation: Enter the loan amount, term in months or years, and annual interest rate. The calculator returns the exact monthly payment amount.
• Total Cost Breakdown: See the total amount paid over the loan term, including principal and all interest. This helps compare the true cost of different loan options.
• Interest Rate Analysis: Adjust the interest rate to see how even small changes affect monthly payments and total interest paid. This supports negotiating with lenders.
• Amortization Schedule: After calculating, generate a full amortization schedule showing each payment's split between principal and interest over the loan term.
• Trade-In and Down Payment Support: Subtract trade-in value or down payment from the car price before entering the loan amount, giving a realistic view of financing needs.

For example, a $22,000 loan at 6% over 5 years produces a monthly payment of $425.32 and total interest of $3,519.30. The calculator works for any loan amount, term, or rate, making it useful for comparing multiple financing offers.