Car Loan Calculator Rbfcu

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Car Loan Calculator – RBF CU body { font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif; background-color: #f8f9fa; color: #333; line-height: 1.6; margin: 0; padding: 20px; } .loan-calc-container { max-width: 700px; margin: 30px auto; background-color: #ffffff; padding: 30px; border-radius: 8px; box-shadow: 0 4px 15px rgba(0, 0, 0, 0.1); border: 1px solid #e0e0e0; } h1, h2 { color: #004a99; text-align: center; margin-bottom: 20px; } .input-group { margin-bottom: 20px; display: flex; flex-direction: column; align-items: flex-start; } .input-group label { display: block; margin-bottom: 8px; font-weight: bold; color: #004a99; } .input-group input[type="number"], .input-group input[type="range"] { width: calc(100% – 20px); padding: 12px; border: 1px solid #ccc; border-radius: 4px; font-size: 1rem; margin-top: 5px; } .input-group input[type="range"] { width: 100%; cursor: pointer; } .input-group input[type="number"]:focus, .input-group input[type="range"]:focus { outline: none; border-color: #004a99; box-shadow: 0 0 0 3px rgba(0, 74, 153, 0.2); } button { display: block; width: 100%; padding: 12px 20px; background-color: #004a99; color: white; border: none; border-radius: 4px; font-size: 1.1rem; font-weight: bold; cursor: pointer; transition: background-color 0.3s ease; margin-top: 10px; } button:hover { background-color: #003366; } #result { margin-top: 30px; padding: 25px; background-color: #e9ecef; border-radius: 8px; text-align: center; border: 1px solid #dee2e6; } #result h3 { margin-top: 0; color: #004a99; font-size: 1.4rem; } #monthlyPayment { font-size: 2.2rem; font-weight: bold; color: #28a745; display: block; margin-top: 10px; } .article-section { margin-top: 40px; padding-top: 30px; border-top: 1px solid #e0e0e0; } .article-section h2 { text-align: left; margin-bottom: 15px; } .article-section p, .article-section ul { margin-bottom: 15px; } .article-section ul { padding-left: 20px; } .article-section li { margin-bottom: 8px; } .disclaimer { font-size: 0.85rem; color: #6c757d; text-align: center; margin-top: 20px; } @media (max-width: 600px) { .loan-calc-container { padding: 20px; } h1 { font-size: 1.8rem; } button { font-size: 1rem; } #monthlyPayment { font-size: 1.8rem; } }

Car Loan Calculator

Estimate your monthly car loan payments with RBF CU.

Estimated Monthly Payment

$0.00

Understanding Your Car Loan Payment

Financing a car is a significant financial decision, and understanding how your monthly payment is calculated is crucial. This calculator helps you estimate your monthly payments for a car loan, taking into account the loan amount, the annual interest rate, and the loan term.

The formula used to calculate the monthly payment (M) for an amortizing loan is:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Where:

  • P = Principal loan amount (the total amount borrowed)
  • i = Monthly interest rate (annual rate divided by 12)
  • n = Total number of payments (loan term in years multiplied by 12)

For example, if you borrow $25,000 at an annual interest rate of 5.5% for 5 years:

  • P = $25,000
  • Annual interest rate = 5.5%
  • Monthly interest rate (i) = 5.5% / 12 / 100 = 0.00458333
  • Loan term = 5 years
  • Total number of payments (n) = 5 * 12 = 60

Plugging these values into the formula results in an estimated monthly payment. This calculator simplifies that process for you.

Why Use a Car Loan Calculator?

  • Budgeting: Helps you determine if a particular car or loan amount fits within your monthly budget.
  • Comparison: Allows you to compare different loan offers from various lenders, including RBF CU, by seeing how interest rates and terms affect your payment.
  • Negotiation: Knowing your potential payments can empower you when negotiating the price of a vehicle or the terms of a loan.
  • Financial Planning: Aids in long-term financial planning by providing a clear picture of your loan obligations.

At RBF CU, we are committed to helping our members achieve their automotive dreams with competitive rates and transparent loan terms. Use this calculator as a tool to explore your options and get pre-approved for a car loan today!

This calculator provides an estimate for informational purposes only. Actual loan terms and payments may vary. Consult with an RBF CU loan officer for personalized rates and offers.

function calculateMonthlyPayment() { var loanAmount = parseFloat(document.getElementById("loanAmount").value); var annualInterestRate = parseFloat(document.getElementById("interestRate").value); var loanTermYears = parseFloat(document.getElementById("loanTerm").value); var monthlyPaymentElement = document.getElementById("monthlyPayment"); if (isNaN(loanAmount) || isNaN(annualInterestRate) || isNaN(loanTermYears) || loanAmount <= 0 || annualInterestRate < 0 || loanTermYears 0) { monthlyPayment = loanAmount * (monthlyInterestRate * Math.pow(1 + monthlyInterestRate, numberOfPayments)) / (Math.pow(1 + monthlyInterestRate, numberOfPayments) – 1); } else { monthlyPayment = loanAmount / numberOfPayments; } monthlyPaymentElement.textContent = "$" + monthlyPayment.toFixed(2); }

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