Auto Loan Calculator
Auto loans work like most other types of loans, but there are a few things to remember. Usually, car lots or manufacturers offer a loan program which will help you finance your vehicle right on the car lot. Also, a loan for a new car will usually have a lower interest rate than a loan for a used car. However, the principal you borrow will usually be higher for a new car than for a used vehicle.
With the current situation of the automotive industry worldwide, finding a good deal on a vehicle is easier than ever. Car manufacturers have to be very competitive giving the purchaser the upper hand in being selective with the purchase they make. Use this auto loan calculator below to compare interest rates to find the car you can afford.
c = (r / (1 − (1 + r) − N))P0