Auto Loan Calculator & Comparison Tool - Cash Back vs Low Interest Rate | Free Car Payment Calculator
Auto Loan Calculator & Comparison Tool
Common Information
Cash Back or Low Interest Rate Offer
Auto Loan Payment Schedule Comparison
💰 Best Deal Recommendation
🎁 Cash Back Offer
Auto Price
Down Payment
Sales Tax
Amount Due at Signing
Total Loan Amount
Total Loan Payment
Total Loan Interest
Total Cost (price, interest, tax, fees)
Monthly P&I (Monthly Pay)
Loan Payoff Date
📉 Low Interest Rate Offer
Auto Price
Down Payment
Sales Tax
Amount Due at Signing
Total Loan Amount
Total Loan Payment
Total Loan Interest
Total Cost (price, interest, tax, fees)
Monthly P&I (Monthly Pay)
Loan Payoff Date
Auto Loan Payment Visualization - Balance, Interest & Payment Over Time
🎁 Cash Back Offer
📉 Low Interest Rate Offer
Payment Schedule Tables
🎁 Cash Back Offer - Payment Breakdown
| Year | Date | Principal Balance | Interest | Principal | Total Interest Paid | Total Principal Paid | Total Payments Paid | Total Balance Due | Interest Balance Due |
|---|
| No. of Instalment | Date | Monthly Instalment Amount | Principal Payment | Interest Payment | Principal Balance | Total Interest Paid | Total Principal Paid | Total Payments Paid | Total Balance Due | Interest Balance Due |
|---|
📉 Low Interest Rate Offer - Payment Breakdown
| Year | Date | Principal Balance | Interest | Principal | Total Interest Paid | Total Principal Paid | Total Payments Paid | Total Balance Due | Interest Balance Due |
|---|
| No. of Instalment | Date | Monthly Instalment Amount | Principal Payment | Interest Payment | Principal Balance | Total Interest Paid | Total Principal Paid | Total Payments Paid | Total Balance Due | Interest Balance Due |
|---|
How to Use This Calculator
Step 1: Enter Vehicle Information
- Input the vehicle's purchase price
- Enter your down payment (dollar amount or percentage)
- Add trade-in value and any remaining balance
- Include sales tax rate and additional fees
Step 2: Compare Financing Options
- Enter the cash back incentive amount
- Input both interest rates (high rate with cash back, low rate without)
- Set your desired loan term
Step 3: Analyze Results
- Review the recommendation for the best financial option
- Compare monthly payments and total costs
- Examine amortization schedules and payment breakdowns
- Download detailed reports for your records
Auto Loan Calculation Formulas
Monthly Payment Calculation
M = P × [r(1+r)^n] / [(1+r)^n - 1]
- M = Monthly payment
- P = Principal loan amount
- r = Monthly interest rate (annual rate ÷ 12)
- n = Total number of payments
Total Interest Calculation
Total Interest = (Monthly Payment × Number of Payments) - Principal
Loan Amount Calculation
Loan Amount = Vehicle Price - Down Payment - Trade Value + Trade Payoff + Tax + Fees - Cash Incentive
References and Additional Resources
Government Resources
- Consumer Financial Protection Bureau - Auto Loans
- Federal Trade Commission - Car Financing Guide
- USA.gov - Buying a Car
- National Highway Traffic Safety Administration
Financial Education
Calculation Methodology
This calculator uses standard amortization formulas as recognized by financial institutions and follows guidelines from federal consumer protection agencies.
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