You can use this calculator to calculate any loan where the down payment is expressed as an amount. If you want a calculator that calculates loan details where the down payment is express in percent, then please use the mortgage loan calculator.
Unlike our general loan or simple loan calculators, this calculator will allow you to have more than one unknown value in certain cases.
To indicate an unknown value, enter '0' (zero).
You can enter the price of the car (or other asset), the down payment amount you have available, the total number of periods you want the loan for and the interest rate. When you click on 'Calc', the amount of the loan and the monthly payment will be calculated.
If you enter the loan amount and 0 for the down payment amount, then the calculator will calculate how much down payment you need.
If you enter 0 for the price of the car, a down payment amount, 0 for the amount of loan, the total periods, the interest rate and the payment you can afford, the calculator will calculate the amount of the loan and the price you can afford to pay for the car.
The name of this calculator is a bit of a misnomer. You may use this calculator to calculate a loan for any asset which involves a down payment amount. It will calculate any loan variable including down payment percentage, the price of the asset or the loan amount in addition to payment amount, term or rate.
See "Help" for more details.
If you want a loan calculator that allows you to enter the down payment percentage rather than the down payment amount, then use this calculator. Or, use this loan calculator if you are not concerned about either the price of the asset or a down payment and only are interested in the actual loan amount. Finally, you can use our online amortization schedule if you want to see how each payment is allocated to principal and interest.
If you would like to link to this calculator, you may use the below HTML code:
