Free auto loan calculator, estimate monthly payments and interest.

How to use our auto loan calculator:  In the first box, input the length of the loan you desire. For example, a 4 year auto loan would be 48 months. In the second box, input an estimated interest rate. If you suspect you'll be getting an auto loan for bad credit, input 11 for 11%. In the third box, type in the cost of the new car you desire. Then click the Calculate Auto Loan button. Our auto loan calculator will then give you an estimated monthly payment, and the total interest charged for your auto loan.

Not sure if you can afford a new car? Apply for an auto loan through Credit Federal's lender network and get a free interest rate quote. After you receive your interest rate quote, you can use our auto loan calculator to estimate your monthly payments.

Apply for a new or used auto loan, or for an auto refinancing loan.

By applying online for an auto loan, you can avoid hidden fees which dealerships are notorious for tacking onto your loan. Online loans can offer quotes with no hidden charges such as dealer prep, undercoating, pin striping, destination charges, GAP insurance, and sticker price padding.

Apply now for an online auto loan.

Auto loan terminology - Here are some terms you may encounter when seeking your auto loan:

Extended Service Contract: Covers the cost of unexpected auto repairs. Service contracts normally have a per visit deductible and most do not cover normal wear items such as break pads.

Finance Charges: A set percentage charged to the borrower by an auto loan lender. To calculate this subtract the total of payments from the amount borrowed. 

Investment rate of return: Rate of return on investments. This is the return that you would make if you were to invest your down payment or security deposit instead of using it in your auto purchase or lease.

The actual rate of return is largely dependant on the type of investments you select. For example, from January 1970 to February 2003 the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11%. Savings accounts at a bank pay as little as 2% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Lost interest on buy option: This includes any interest you would have earned at your investment rate of return on the buy option's down payment and other fees. If the monthly payment for leasing is less than the monthly payment for buying, this also includes any lost interest due to the higher monthly payments. If leasing is more expensive than buying, your interest costs for buying are reduced by the amount of interest you would earn on the difference.

Lost interest on lease option: This includes any interest you would have earned at your investment rate of return on the lease option's down payment, security deposit and other fees. Please see the definition for "Lost interest on buy option" for an explanation on how we account for any interest you might earn by having a lower monthly lease payment. 

Loan to Value (LTV): The amount financed relative to the published book value of the vehicle. Lower LTV's have a better chance of approval. Lenders usually use Trade of Wholesale Value Book Value when calculating LTV.

No sales tax deduction for trade-in: In some states sales tax is calculated on your full purchase price. Others calculate tax based on the purchase price less trade in. Currently California, the District of Columbia, Hawaii, Maryland, Michigan allow no deductions for trade-ins when calculating sales tax. In addition, Alaska, Delaware, Montana, New Hampshire, and Oregon have no sales tax on new vehicles. 

Negative Trade Equity: The difference between the lien payoff and the value of your trade in. This is a Negative Number 

Principal: The amount borrowed, or the amount on which you pay interest and must pay back, which may increase as a result of capitalization of interest. 

Principal Balance: The portion of the original loan, plus capitalized interest, which the borrower has not yet satisfied through payment or cancellation.

Rate of depreciation: The rate of depreciation gauges how fast your new automobile will lose its market value. A high depreciation rate is about 20% per year, medium is 15% per year and low is 10% per year.

Total purchase price (before tax): This is the total cost of your vehicle purchase. Include the sale price, any additional options and any destination charges. Don't include sales tax in this amount. Sales tax will be calculated for you and included in your total after tax price.

Trade allowance: The total amount that you are given for any automobile that you trade-in as part of the purchase. In some states a trade-in can also reduce the amount of sales tax you will owe. See the definition for "Sales tax deduction for trade-in" for more information on trade-in vehicles and sales tax. 

Trade Equity: The difference between the value of your trade and the lenders lien payoff.

Get the latest auto industry news and locate other auto loan information.

Auto Loan

Auto loans that are being paid may be a good sign that borrowers are controlling their debts more, this would be a turn around from past problems of repossessions. Past due auto and mortgage payments have dropped the last couple of months, according to the credit reporting agency TransUnion.

More people are interested in new autos with an average cost of around $12,000 and those sales are up from a year ago. The change reflects a growth in purchases. Even though the number of new loans has not returned to pre-recession levels, buyers are taking advantage of automakers' aggressive sales promotions.

Of course, most consumers do recognize a good deal and some are choosing used cars over new cars. This can help many people eliminate spending money each month, on a high auto payment. There are some great used autos with pricing to fit just about any budget. Still, there have been some delinquencies among a few states, as the effects of the recession will affect certain areas. Making auto payments can be affected by not having a job, and sometimes the end of the year can have more auto delinquencies.

Many online auto loan lenders have quick, one minute applications for auto quotes. Applicants can review loan options and even get loan financing within hours. Lenders like getting people the best, affordable car loan as fast as possible. The online application process can be very easy, safe, and secure. Even Americans with less-than-perfect credit, are welcome to apply and may be able to get approved for a loan. They have many available loan options for all credit types, and helping people get an auto and a loan that fits their needs is important. 

For people who need more answers before applying, look for links to a question page on any auto loan website. Research your questions, choose an online lender who meets your needs and then apply. Putting money down is different depending on the auto programs, some do not require a down payment, others could allow people to defer all or part of a down payment.

People who are self-employed don't need to wonder if that makes getting a loan impossible, as that may not affect a loan decision. Loans have helped many customers, establish or re-establish a credit history. Lenders deal with specific problems like bankruptcy or auto repossessions, and they still try to help people get what they can afford and the auto that is right for their needs.

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