|This calculator can help
you find out how much that new car will cost per month, or based on a
monthly payment, how much of a car you can afford.
For example, if you wanted to calculate the monthly payments on a
$30,000 car with a 10.5% loan for 4 years (48 months) and a $10,000
down payment, you would enter 10.5 for the interest rate, 48 for the
term, 10000 for the down payment (no $ or , please) and 30000 for
the car cost. Then click the "Calculate Payment" button and the
monthly payment will be written in its window.
If, on the other hand, you knew you could only afford a $400 per
month payment, instead of entering a car cost, enter 400 in the
"Monthly Payment" box and click the "Calculate Car Amount" button and
the price of the car you can afford with that monthly payment will be
written in the "Car Amount" window.