back to articles | December 31, 2018 | Greg Thibodeau

Categories: Loan Calculators & Rates

Auto Loan Amount Calculator

Use an Auto Loan Calculator

When you want an auto loan or auto lease financial plan it is very important to calculate the exact monthly auto payments you will be making by using an auto loan calculator. Some dealers and leasing companies use a secret lease payment formula to calculate auto payments using an auto loan calculator and they would prefer that you do not know about it. They only show you a total lease charge or rent charge that is the total of all your monthly finance auto payments over your entire lease term. One of the main reasons that the vast majority of people overpay on their auto payments in lease form is that customers do not notice errors or mistakes on their auto payment forms. Many people do not know how to check the calculations in their lease contract and this also affects high auto payments. You need to use our customized auto loan payment calculator to estimate your monthly auto payments and ensure that you are not paying more than you need to.

What Are Auto Loan Payments?

Auto loan payments are the amount of principal and interest you pay every month towards your auto payments. Auto payments in the case of leasing include the monthly lease auto payment. A new auto lease payment consists of three parts: a payment fee, a depreciation fee and sales tax. The depreciation fee reimburses the leasing company for the loss in value of their car, which is spread over the lease term through your auto payments. The finance fee of your monthly lease auto payment is similar to the interest you pay on a loan and is a payment to the lease company for the use of its money. Add-on products or services sold by dealerships including upholstery treatments, alarm systems, warranty service, rust proofing and alarm systems will increase the price of the car and increase your monthly auto payments. Use an auto loan calculator to know your maximum budget for sales price and monthly payment of your car loan or your car refinancing loan.

Calculate Your Monthly Payments

Whether you are leasing a car or buying a car it is very important to know the actual monthly auto payments you will be making by using an auto loan calculator. This will let you decide how much money you can spend on a car and prevent any unpleasant financial surprises from happening later on. Our auto loan calculators have been customized for your specific needs and will help you estimate your actual monthly auto payments. Our various online guides will teach you about all aspects of auto finance and make sure that you use the right auto loan calculators and get the right auto payments on your new car loan or your auto refinance loan.