Loan Calculator

Welcome to our first blog post with Carfinance. We will explain everything about financingrefinancing, car loans and more. But today, we want to touch on the loan calculator.

When it comes to buying a car; a loan calculator might be your best friend, because it will help you understand how much your loan payments will be.

Many variables can affect your payments.

What is the loan calculator?

The total price of the vehicle isn’t really the figure you should pay attention to if you plan to finance your new vehicle. The most important number for you is the payment. Our vehicle loan calculator will show you the price per payment, depending on how you structure your deal.

One factor that will change your loan payment (other than the price of the vehicle) the most is the loan term. The longer your term is, the less you pay each month. However, due to the interest you will pay on an extended term, you will end up paying more interest over the total loan. Simply stated, the more time you spend paying off your loan, the more interest you pay. The interest rate is essential to consider when structuring a car loan. The interest rate (usually a number between 0% and 29.99%) is another large factor to consider. That is, if you qualify for a 4.99% on a vehicle loan, you will pay much less than if you qualified for the latter 29.99%.

Next, do you have a trade in? What is the value of the vehicle being traded? If you are trading in a vehicle that’s worth $7K and you’re buying a vehicle that’s worth $22K, then the purchase price of your vehicle is reduced to 15k.

However, suppose you still have a balance owed on the vehicle you are trading in; this is the perfect opportunity to use our vehicle payment calculator. This is because you will pay more than you expect. Let’s say your trade-in is worth $7000, but you still owe $9000 (balance on old loan). This means that when you trade your vehicle, you owe $2000 more (negative equity) so the $2000 will be added to the $22k making your total purchase price $24K.

What are the benefits of a loan calculator?

1-) Loan Interest Rate

One important benefit is that you can calculate your payments on the same vehicle at different interest rates. This shows you what you might pay if you had excellent credit, average credit, or even bad credit.

2-) Save Your Time

Time is the most critical thing in our lives. As human beings, we always have to rush somewhere or do something. Our loan calculator will help you save some time. In a few minutes, you can understand approximate payments before talking to a finance specialist.

3-) You can make plans 

Buying a car is a big decision and you should actively plan for it before making a final decision. Our vehicle payment calculator is one feature we offer to help you plan for your best.

Transparency is just one of our goals!


Everyone has a different financial situation and it might be difficult to determine where you stand. Talk to one of our finance specialists. Our team is very knowledgeable and will take the time needed to help you through every step of your purchase. We can teach you how to improve your credit rating and set you on the right path to having excellent credit. One step at a time.

Our award-winning experts are available by phone or text (1-877-378-8581), email (