How much is that new car or purchase going to cost me each month?
In this calculation, users can input the total price of the item, the initial deposit, the annual interest rate, and the number of years they want to finance the purchase. This will then calculate and display the approximate monthly payment required to finance the item.
PLEASE NOTE – This is an estimated calculation. The calculator assumes a simplified model of interest, using a fixed annual interest rate compounded monthly. In reality, loan interest rates can vary, and they may be fixed or variable. Additionally, lenders may use different methods for calculating interest.
Result
PLEASE NOTE – The calculator assumes a simplified model of interest, using a fixed annual interest rate compounded monthly. In reality, auto loan interest rates can vary, and they may be fixed or variable. Additionally, lenders may use different methods for calculating interest.
