.calculator-container-wrapper {
font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif;
max-width: 800px;
margin: 0 auto;
color: #333;
line-height: 1.6;
}
.calc-box {
background: #f8f9fa;
border: 1px solid #e9ecef;
border-radius: 8px;
padding: 30px;
margin-bottom: 40px;
box-shadow: 0 4px 6px rgba(0,0,0,0.05);
}
.calc-title {
text-align: center;
color: #2c3e50;
margin-bottom: 25px;
font-size: 24px;
font-weight: 700;
}
.input-group {
margin-bottom: 20px;
}
.input-group label {
display: block;
margin-bottom: 8px;
font-weight: 600;
color: #495057;
}
.input-wrapper {
position: relative;
}
.input-wrapper input {
width: 100%;
padding: 12px;
padding-left: 15px;
border: 1px solid #ced4da;
border-radius: 4px;
font-size: 16px;
box-sizing: border-box;
transition: border-color 0.2s;
}
.input-wrapper input:focus {
border-color: #007bff;
outline: none;
box-shadow: 0 0 0 3px rgba(0,123,255,0.15);
}
.calc-btn {
background-color: #007bff;
color: white;
border: none;
padding: 15px 30px;
font-size: 18px;
font-weight: 600;
border-radius: 4px;
cursor: pointer;
width: 100%;
transition: background-color 0.2s;
margin-top: 10px;
}
.calc-btn:hover {
background-color: #0056b3;
}
.results-box {
margin-top: 30px;
padding: 20px;
background-color: #fff;
border-radius: 6px;
border-left: 5px solid #28a745;
display: none;
}
.result-row {
display: flex;
justify-content: space-between;
margin-bottom: 12px;
border-bottom: 1px solid #eee;
padding-bottom: 12px;
}
.result-row:last-child {
border-bottom: none;
margin-bottom: 0;
padding-bottom: 0;
}
.result-label {
color: #6c757d;
}
.result-value {
font-weight: 700;
font-size: 18px;
color: #2c3e50;
}
.highlight-result {
font-size: 28px;
color: #28a745;
}
.content-section {
padding: 20px 0;
}
.content-section h2 {
color: #2c3e50;
margin-top: 30px;
border-bottom: 2px solid #eee;
padding-bottom: 10px;
}
.content-section p {
margin-bottom: 15px;
}
.content-section ul {
margin-bottom: 20px;
padding-left: 20px;
}
.content-section li {
margin-bottom: 8px;
}
@media (min-width: 600px) {
.form-grid {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 20px;
}
}
function calculateCarLoan() {
// Get inputs
var price = parseFloat(document.getElementById('carPrice').value) || 0;
var down = parseFloat(document.getElementById('downPayment').value) || 0;
var trade = parseFloat(document.getElementById('tradeIn').value) || 0;
var taxRate = parseFloat(document.getElementById('salesTax').value) || 0;
var interestRate = parseFloat(document.getElementById('interestRate').value) || 0;
var months = parseFloat(document.getElementById('loanTerm').value) || 0;
// Validate critical inputs
if (months price
if (principal 0) {
if (interestRate > 0) {
var monthlyRate = (interestRate / 100) / 12;
// Amortization Formula: M = P * [ r(1+r)^n ] / [ (1+r)^n – 1 ]
var x = Math.pow(1 + monthlyRate, months);
monthlyPayment = (principal * monthlyRate * x) / (x – 1);
var totalPayments = monthlyPayment * months;
totalInterest = totalPayments – principal;
} else {
// 0% Interest Case
monthlyPayment = principal / months;
totalInterest = 0;
}
}
// Total Cost includes the Down Payment and Trade In value + Total Payments made
totalCost = (monthlyPayment * months) + down + trade;
// Formatting currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
// Display Results
document.getElementById('monthlyPaymentDisplay').innerHTML = formatter.format(monthlyPayment);
document.getElementById('loanAmountDisplay').innerHTML = formatter.format(principal);
document.getElementById('totalTaxDisplay').innerHTML = formatter.format(taxAmount);
document.getElementById('totalInterestDisplay').innerHTML = formatter.format(totalInterest);
document.getElementById('totalCostDisplay').innerHTML = formatter.format(totalCost);
// Show result box
document.getElementById('results').style.display = 'block';
}
Car Loan Payment Calculator
Estimated Monthly Payment:
$0.00
Total Loan Amount (Financed):
$0.00
Total Sales Tax:
$0.00
Total Interest Paid:
$0.00
Total Cost of Car (Loan + Down + Trade):
$0.00
Understanding Your Car Loan Payment
Purchasing a vehicle is a significant financial commitment. This Car Loan Calculator helps you estimate your monthly payments and understand the long-term cost of financing a car. By adjusting the vehicle price, down payment, trade-in value, interest rate, and loan term, you can find a financing plan that fits your budget.
Key Factors That Affect Your Payment
- Vehicle Price: The negotiated selling price of the car before taxes and fees.
- Down Payment: Cash paid upfront. A larger down payment reduces the loan principal and monthly payments.
- Trade-in Value: The amount the dealer offers for your old vehicle, which acts like additional down payment.
- Interest Rate (APR): The annual cost of borrowing money. Rates depend on your credit score and current market conditions.
- Loan Term: The duration of the loan. Longer terms (e.g., 72 or 84 months) lower monthly payments but increase the total interest paid over the life of the loan.
Formula for Calculating Monthly Car Payments
The standard amortization formula used to determine your monthly car payment is:
M = P * [ r(1 + r)^n ] / [ (1 + r)^n – 1 ]
Where:
- M = Total monthly payment
- P = Principal loan amount (Car Price + Tax – Down Payment – Trade-in)
- r = Monthly interest rate (Annual rate divided by 12)
- n = Number of months required to repay the loan
Example Calculation
Imagine you are buying a car for $30,000. You have a $5,000 down payment and a trade-in worth $2,000. The sales tax in your state is 6%. You secure a loan with a 5% interest rate for 60 months.
First, the sales tax is calculated on the vehicle price: $30,000 * 0.06 = $1,800.
The total Amount to Finance is: ($30,000 + $1,800) – $5,000 – $2,000 = $24,800.
Using the formula, your estimated monthly payment would be approximately $468. Over the 5-year term, you would pay roughly $3,280 in total interest.
How to Lower Your Monthly Car Payment
If the calculated payment is higher than your budget allows, consider these strategies:
- Increase your down payment: Saving more cash upfront reduces the amount you need to borrow.
- Extend the loan term: Moving from 48 to 60 or 72 months will lower the monthly bill, though you will pay more interest in the long run.
- Shop for a lower interest rate: Check with credit unions or banks before going to the dealership to secure the best APR.
- Negotiate the car price: Don't focus only on the monthly payment; negotiate the total "out-the-door" price of the vehicle.