Auto Loan Payment Calculator

Getting a loan is an important step that involves great responsibility and a more efficient management of the budget. Is it very important to know what your monthly payment will be and how much money you have to save in order to ensure that you don’t go on the payee ‘blacklist’.

Auto Loan Payment Calculator provides you with a simple method to estimate the total cost of an auto loan, giving you a helping hand in managing your finances better.

It is nothing more than an Excel spreadsheet filled with formulas that can automatically apply the calculation algorithms needed to determine the monthly payment, the total amount of money required to erase the debt record and other important information for any debtor.

The number cells in the spreadsheet are customizable, so you can easily enter the values that describe your situation, such as the auto price, the sales tax, the insurance, the interest rate perceived by the financial institution and the loan duration.

Once you do this, the monthly payment and the total cost of the loan is immediately calculated, along with the total sales tax and the total interest that you must pay.

Auto Loan Payment Calculator enables you to view the savings you get by paying more than the standard amount each month, in two different scenarios.

In addition to this, you can view the payment schedule for each month of the entire loan period, including the actual payment, the interest and the residual principal.

Although there is no lack of online calculators that do exactly the same thing and more, Auto Loan Payment Calculator is worth having if you plan on contracting a bank loan to purchase a car.