Car Loan Payment Calculator Excel

Use the auto loan calculator worksheet to calculate the amount you will need to finance based on the sales price of the car destination charge fees sales tax down payment cash rebate and trade in value of an older auto.

Car loan payment calculator excel. Vehicle loan payment calculator. For instance you can use excel to calculate car loan transactions and payment amounts as well as the total interest paid over the life of a loan. The number of auto loan payments is 60. It calculates your car loan payments and generates a payment schedule.

Below we walk you through exactly how to calculate your monthly loan payment using excel. We believe that a strong basic financial education is the key to living within your means avoiding bad debt and becoming financially secure. All you need to do is enter the specifics of the loan and you can calculate monthly payments for mortgages car loans student loans and more. For this example we want to find the payment for a 5000 loan with a 4 5 interest rate and a term of 60 months.

You can also investigate how changing your loan conditions such as the payment frequency or the term affects the payment. Loans have four primary components. Use this simple accessible calculator to determine your monthly payment for a new or used vehicle. In fact excel has a function built into the program that calculates monthly payments for you.

The spreadsheet is easy to use and navigate. The present value here is 20 000 which is the value of the loan. Google car loan calculator and you ll find no fewer than 31 million results. The annual interest rate is 5 0 so the monthly rate is 5 0 divided by twelve.

Vertex42 provides high quality free excel based loan calculators to both individuals and industry professionals. We hope that our loan calculators can help you make better decisions and save money. Calculating the payments for a car loan is a pretty basic financial exercise. Simply enter the purchase price down payment value of trade in interest rate and length of loan and the payment will be calculated automatically along with the total amount you will pay for the vehicle including all interest.

The work to calculate monthly payments is shown below. Think you re ready to start. This means that every month you will pay 377 42 for your shiny new car. But with a few basic formulas and an excel worksheet you can make a payment calculator that better and more powerful than the majority of those online.

You can use the pmt function to get the payment when you have the other 3 components. The amount the interest rate the number of periodic payments the loan term and a payment amount per period.