Auto Loans and Car Financing Calculator

Use this to calculate auto loan payment. Compare different loan offered and all cash payment.

Index
This tool helps answer :
  1. Should I put more or less downpayment? Should I choose a longer or shorter loan term?
  2. If I have enough cash to buy a car, but have higher-yield investment opportunities, should I use auto loan or pay all cash to purchase?
Vehicle & loan feature - Plan A
Purchase price
Trade-in car value
Downpayment  
Loan term months
Interest rate
Cash back offer
Sales tax
Loan origination fees
Other fixed fees the unavoidable fees you must pay whether to use loan or pay with cash, such as title, registration, inspection, government, and dealer fees.
Loan amount
Monthly payment
Up-front payment
Total payment
Loan Consideration
Plan A
Plan B
Plan C
Downpayment ($)
Downpayment
Loan term (months) No loan
Interest rate
Cash back offer
Investment yield the expected return of investment when you invest extra cash
Loan amount
Up-front payment
Monthly payment
Long-term saving *
The winner plan ** winner winner winner

* The long-term saving is how much the net present value (NPV) the plan can create. Buying with all cash usually creates no savings at the moment you buy the car because we assume the car price is fair so the NPV is zero. However, using a auto loan may create more or less NPV than buying with all cash, depending on your opportunity cost of using that cash. When your investment yield is higher than the loan rate (APR), you can generate more investment income than the loan interest payment, bringing you more cash inflow in the long term. In financial terms, professionally, your NPV of utilizing a auto loan will be higher than the NPV of buying with all cash.

** The winner plan you may consider is the one creating the highest savings as it brings a better financial outlook in the long term.

Loan Balance Overtime
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