Our loan calculator helps you estimate your monthly and biweekly car payments based on key factors. Here’s how to use it:

• - Vehicle Price: Enter the price of the car you’re interested in.
• - Down Payment (Optional): Input the amount you plan to pay upfront. A larger down payment reduces the total loan amount.
• - Trade-in Value (Optional): If you’re trading in a vehicle, enter its estimated value. This will be deducted from the total loan amount.
• - Credit Score: Select your credit range. Higher credit scores generally qualify for lower interest rates.
• - Loan Term: Choose a repayment period between 48 and 96 months. Longer terms lower monthly payments but increase total interest paid.

Your interest rate is determined by lenders based on your credit profile. If you want an estimate before choosing a car, you can complete our quick pre-approval form, which takes less than a minute.

Gross income is your total earnings before taxes and deductions. This amount is higher than your take-home (net) pay.

Lenders require a minimum loan amount of $7,500 after taxes. If your total is lower, financing won’t be available. However, once financed, you can make immediate payments to reduce the loan balance.

Interest rates impact your monthly payments because they represent the cost of borrowing. A higher rate increases your payment, while a lower rate reduces it.

Lenders use credit scores to assess risk. A higher credit score can help you secure a lower interest rate, which directly lowers your monthly payment.

Loan terms vary based on the lender and vehicle age, but most auto loans range between 48 and 84 months.

A trade-in can reduce your monthly payment if it has positive equity (its value is higher than the remaining loan balance or has no loan). The trade-in amount is applied toward your new purchase, reducing the total loan. If the trade-in has negative equity (its value is lower than the remaining loan balance), the negative balance may be rolled into your new loan, potentially increasing your payment.

Monthly payments are calculated using a formula that considers the loan amount, interest rate, and loan term. This ensures your payments cover both the principal and interest over the loan period.