Used Car Loan Calculator
What will my monthly loan payment be?
Before buying a used car, we recommend using our used car loan calculator below. It provides a clear picture of your monthly loan payments, as well as a full payment schedule for your used car purchase. Our used car loan calculator also shows the breakdown between principal and interest you’ll owe each month.
Your monthly payment will depend on the amount of money you borrow, the annual interest rate you'll pay, and the term of your loan (the time period during which you’ll repay the loan). For example, if you plan to borrow $15,000 at 4.5% interest and repay it over 6 years, enter "$15,000" for your Loan Amount, "6" as the Term, and "4.5%" as the Annual Interest Rate.
In the market for a used car? Our used car loan calculator will show your monthly payment, a breakdown between principal and interest, and a full payment schedule for your used car purchase.
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Used Car Loan Calculator -- Inside the Numbers
If you borrow to buy a used car at interest for years, then your monthly payment will be .
The monthly payments you make on your used car will not change over the term of your loan. Instead, the amount of your payment that goes toward paying off principal versus the amount that goes toward interest will change every month. As you pay down the principal balance on your loan over time, you will pay less interest with each passing month