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Car Loan Calculator to Pay Off Early
Strategize your car loan payoff for maximum savings.
Car Loan Payoff Calculator
Enter your loan details below to see how paying extra can save you money and time.
The total amount financed for the car.
The APR of your car loan.
The original duration of your loan in months.
The additional amount you plan to pay each month.
Your Payoff Summary
Estimated Interest Saved
New Loan Term (Months)
Total Interest Paid
Total Cost of Loan
Formula Used: This calculator uses an amortization schedule calculation. It determines the original monthly payment, then recalculates the loan term and total interest paid by adding the extra monthly payment. Interest saved is the difference between the original total interest and the new total interest.
Loan Amortization Schedule
See how your payments are applied over time with extra payments.
| Month | Starting Balance | Payment | Interest Paid | Principal Paid | Ending Balance |
|---|
Loan Payoff Visualization
Compare the original loan payoff with your accelerated payoff plan.
What is a Car Loan Calculator to Pay Off Early?
A car loan calculator to pay off early is a specialized financial tool designed to help borrowers understand the impact of making extra payments on their car loans. Instead of just calculating standard loan payments, this calculator focuses on how accelerating your repayment schedule can lead to significant savings in interest and reduce the overall loan term. It allows you to input your current loan details, such as the principal amount, interest rate, and loan term, along with an additional monthly payment amount. The tool then projects a new payoff date and quantifies the total interest saved compared to sticking to the original payment plan. This empowers car owners to make informed decisions about their finances, potentially freeing up cash flow sooner and avoiding long-term debt.
Who Should Use It?
Anyone with an existing car loan who is looking to:
- Reduce the total amount of interest paid over the life of the loan.
- Pay off their car loan faster and own their vehicle outright sooner.
- Free up monthly cash flow by eliminating car payments earlier.
- Understand the financial benefits of making extra payments, even small ones.
- Compare different extra payment strategies to find the most effective one.
Common Misconceptions
A frequent misconception is that only very large extra payments make a difference. In reality, even consistent, modest extra payments can lead to substantial interest savings over time due to the power of compounding and amortization. Another myth is that paying off a car loan early is always the best financial move; sometimes, investing the extra money elsewhere might yield higher returns, depending on the interest rates involved. This calculator helps clarify these trade-offs by showing concrete savings.
Car Loan Payoff Calculator Formula and Mathematical Explanation
The core of a car loan calculator to pay off early relies on the principles of loan amortization. It first calculates the standard monthly payment and then simulates the loan’s progression with an increased payment amount.
Standard Monthly Payment Calculation
The standard monthly payment (M) for a loan is calculated using the following formula:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
Where:
- M = Monthly Payment
- P = Principal Loan Amount
- i = Monthly Interest Rate (Annual Rate / 12)
- n = Total Number of Payments (Loan Term in Years * 12)
Calculating Early Payoff
To determine the early payoff, the calculator simulates the loan month by month:
- Calculate Initial Monthly Payment: Using the formula above, determine the standard payment.
- Calculate Total Interest for Original Term: Total Interest = (M * n) – P.
- Simulate Accelerated Payments: Starting with the original loan balance (P), the calculator iterates through each month. In each month:
- Calculate the interest due for that month: Interest = Remaining Balance * i.
- Determine the principal paid: Principal = (M + Extra Payment) – Interest.
- Calculate the new remaining balance: New Balance = Remaining Balance – Principal.
- Keep track of the total interest paid and the number of months passed.
- Determine New Payoff Time: The simulation stops when the remaining balance reaches zero or less. The total number of months simulated is the new loan term.
- Calculate New Total Interest: Sum of all monthly interest payments during the accelerated payoff.
- Calculate Interest Saved: Interest Saved = (Original Total Interest) – (New Total Interest Paid).
- Calculate Total Cost: Total Cost = P + New Total Interest Paid.
Variables Table
| Variable | Meaning | Unit | Typical Range |
|---|---|---|---|
| P (Principal Loan Amount) | The total amount borrowed for the car. | USD ($) | $5,000 – $100,000+ |
| Annual Interest Rate | The yearly cost of borrowing, expressed as a percentage. | % | 2% – 20%+ |
| Loan Term (Months) | The total duration of the loan in months. | Months | 24 – 84 months |
| Extra Monthly Payment | Additional amount paid towards the principal each month. | USD ($) | $0 – $1,000+ |
| Monthly Interest Rate (i) | Annual interest rate divided by 12. | Decimal | 0.00167 – 0.167+ |
| Number of Payments (n) | Total number of payments over the original loan term. | Count | 24 – 84 |
| Monthly Payment (M) | The fixed amount paid each month, including principal and interest. | USD ($) | Varies |
| Interest Saved | The total reduction in interest paid by making extra payments. | USD ($) | $0 – $10,000+ |
| New Loan Term | The reduced number of months to pay off the loan with extra payments. | Months | Varies |
Practical Examples (Real-World Use Cases)
Let’s illustrate the power of early payoff with a couple of scenarios using the car loan calculator to pay off early.
Example 1: Standard Payoff vs. Early Payoff
Scenario: Sarah buys a new car and finances $30,000 over 60 months at an 8% annual interest rate. She decides to add an extra $100 to her monthly payment.
Inputs:
- Original Loan Amount: $30,000
- Annual Interest Rate: 8%
- Original Loan Term: 60 months
- Extra Monthly Payment: $100
Calculated Results (using the calculator):
- Original Monthly Payment: ~$664.90
- Original Total Interest Paid: ~$9,893.80
- New Loan Term: ~51 months
- Total Interest Paid (with extra): ~$7,770.50
- Interest Saved: ~$2,123.30
- Total Cost of Loan (with extra): ~$37,770.50
Interpretation: By adding just $100 per month, Sarah pays off her car loan about 9 months earlier and saves over $2,100 in interest. This demonstrates how consistent extra payments significantly impact the loan’s total cost.
Example 2: Aggressive Payoff Strategy
Scenario: John finances $20,000 for a used car over 48 months at a 6% annual interest rate. He wants to pay it off as quickly as possible and decides to pay an extra $250 per month.
Inputs:
- Original Loan Amount: $20,000
- Annual Interest Rate: 6%
- Original Loan Term: 48 months
- Extra Monthly Payment: $250
Calculated Results (using the calculator):
- Original Monthly Payment: ~$483.33
- Original Total Interest Paid: ~$3,200.00
- New Loan Term: ~37 months
- Total Interest Paid (with extra): ~$2,450.75
- Interest Saved: ~$749.25
- Total Cost of Loan (with extra): ~$22,450.75
Interpretation: John pays off his car loan 11 months ahead of schedule and saves nearly $750 in interest. This aggressive strategy shows substantial time savings, allowing him to own the car free and clear much sooner.
How to Use This Car Loan Calculator to Pay Off Early
Our car loan calculator to pay off early is designed for simplicity and effectiveness. Follow these steps to maximize its benefits:
- Gather Your Loan Information: You’ll need your original car loan amount, the annual interest rate (APR), and the original loan term in months. You can usually find this information on your loan statement or by contacting your lender.
- Determine Your Extra Payment: Decide how much extra you can realistically afford to pay towards your car loan each month. This could be a fixed amount (e.g., $50, $100, $200) or a percentage of your payment. Enter this amount in the “Extra Monthly Payment” field. If you’re not planning to pay extra, enter $0.
- Input the Details: Enter the gathered loan information into the corresponding fields: “Original Loan Amount,” “Annual Interest Rate,” and “Original Loan Term (Months).” Then, enter your chosen “Extra Monthly Payment.”
- Calculate: Click the “Calculate Payoff” button. The calculator will instantly process your inputs.
-
Review the Results:
- Estimated Interest Saved: This is the primary benefit – the total amount of interest you’ll save by making extra payments.
- New Loan Term (Months): See how much sooner you’ll pay off your loan.
- Total Interest Paid: The total interest you’ll pay with the accelerated plan.
- Total Cost of Loan: The sum of the original loan amount and the total interest paid under the new plan.
- Analyze the Amortization Table and Chart: If available, review the detailed amortization schedule to see the month-by-month breakdown and the chart for a visual comparison of the original vs. accelerated payoff. This helps understand how each extra payment chips away at the principal faster.
- Make Informed Decisions: Use the results to decide if the extra payments align with your financial goals. If the savings are significant, consider making the extra payments consistently. If you need to adjust your budget, the calculator can help you see the impact of different extra payment amounts.
- Reset: Use the “Reset” button to clear all fields and start a new calculation.
- Copy Results: Use the “Copy Results” button to easily share or save your calculated summary.
Remember to ensure your lender applies any extra payments directly to the principal balance, not towards future payments, to achieve the maximum benefit of paying off your car loan early.
Key Factors That Affect Car Loan Payoff Results
Several factors significantly influence how much interest you save and how quickly you can pay off your car loan early. Understanding these is crucial for effective financial planning:
- Interest Rate (APR): This is arguably the most critical factor. A higher interest rate means more of your payment goes towards interest each month. Therefore, making extra payments on a loan with a high APR yields significantly greater interest savings compared to a low APR loan. The earlier you pay down the principal on high-interest debt, the more you benefit.
- Loan Principal Amount: A larger loan amount naturally means more interest will accrue over time, assuming the same interest rate and term. Consequently, the potential for interest savings through early payoff is higher on larger loans. However, it also means you’ll likely need to make larger extra payments to see a substantial reduction in the payoff time.
- Loan Term: Longer loan terms (e.g., 72 or 84 months) result in substantially more interest paid overall compared to shorter terms (e.g., 36 or 48 months). This is because the principal is paid down much more slowly, allowing interest to compound for a longer period. Making extra payments on longer-term loans can dramatically shorten the payoff period and save a large amount of interest.
- Amount of Extra Payment: The size of your additional monthly payment directly correlates with the speed of payoff and the total interest saved. A larger extra payment will reduce the loan term more significantly and result in greater interest savings. Even small, consistent extra payments compound over time.
- Loan Fees and Prepayment Penalties: While less common on standard car loans, some loans might have origination fees or, more importantly, prepayment penalties. It’s essential to check your loan agreement. If there’s a penalty for paying off the loan early, it could negate the benefits of making extra payments. Most modern car loans do not have prepayment penalties.
- Lender’s Application of Extra Payments: Crucially, ensure your lender applies any extra payments directly to the principal balance. If the lender applies extra payments to future interest or future installments, you won’t achieve the accelerated payoff or interest savings. Always confirm this policy with your lender.
- Opportunity Cost: Consider what else you could do with the money you’re using for extra payments. If you have high-interest credit card debt, paying that off might be a higher priority. Conversely, if your car loan interest rate is higher than the potential return on conservative investments, paying down the loan is often financially prudent. This involves weighing the guaranteed savings from interest reduction against potential investment gains.
Frequently Asked Questions (FAQ)
A: The amount of interest saved depends heavily on your interest rate, loan term, and the amount of extra payments you make. Generally, higher interest rates and longer terms offer greater potential for savings. Our calculator helps you quantify these savings for your specific situation.
A: To benefit from early payoff, your extra payment MUST be applied directly to the principal balance. Most lenders will apply it this way if you specify, but it’s crucial to confirm this policy with your lender. If it’s applied to future interest or payments, it won’t reduce your loan term or total interest paid.
A: Even small, consistent extra payments can make a significant difference over the life of a loan, especially with higher interest rates. Our calculator can show you the cumulative effect of even modest additional payments.
A: The primary potential downside is the opportunity cost. The money used for extra payments could potentially be invested elsewhere for a higher return, though this involves risk. Also, ensure there are no prepayment penalties (rare for car loans). Finally, ensure you maintain an adequate emergency fund; don’t deplete it to pay off a car loan if it leaves you vulnerable.
A: Contact your lender or check their online portal. You can usually specify that an additional amount included with your regular payment should be applied directly to the principal. Some lenders may require you to send a separate payment or call them.
A: This is a personal financial decision. Generally, if your car loan interest rate is significantly higher than the expected long-term returns on your retirement investments (after accounting for risk), paying off the loan might be more beneficial. However, retirement savings often have tax advantages and long-term growth potential. It’s often advisable to contribute enough to retirement accounts to get any employer match and then consider extra debt payments.
A: Paying extra directly reduces your principal balance and shortens your loan term. Refinancing involves getting a new loan (ideally with a lower interest rate or different term) to pay off the old one. Refinancing can lower your monthly payments or total interest paid, but it may involve fees and a credit check. Paying extra is a simpler way to reduce interest paid on your existing loan.
A: This specific calculator is designed for standard amortizing car loans. Balloon payment loans have a different structure where the final payment is significantly larger than regular installments. While making extra payments can still reduce the final balloon amount, the calculation logic differs, and this tool may not provide accurate results for such loans.
Related Tools and Internal Resources
-
Car Loan Calculator
Calculate standard monthly payments, total interest, and loan terms. -
Personal Loan Calculator
Explore options for financing personal expenses and understand repayment. -
Mortgage Payoff Calculator
See how extra payments can accelerate your mortgage payoff and save thousands. -
Debt Snowball Calculator
Strategize paying off multiple debts by focusing on smallest balances first. -
Debt Avalanche Calculator
Prioritize paying off debts with the highest interest rates first for maximum savings. -
Guide to Financial Planning
Learn essential strategies for managing your money effectively.
var chartInstance = null; // Global variable to hold chart instance
function formatCurrency(amount) {
return “$” + Number(amount).toFixed(2).replace(/\d(?=(\d{3})+\.)/g, ‘$&,’);
}
function formatNumber(num) {
return Number(num).toFixed(2);
}
function calculateLoan() {
// Input values
var loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
var annualInterestRate = parseFloat(document.getElementById(“annualInterestRate”).value);
var loanTermMonths = parseInt(document.getElementById(“loanTermMonths”).value);
var extraPayment = parseFloat(document.getElementById(“extraPayment”).value);
// Error handling
var errors = false;
if (isNaN(loanAmount) || loanAmount <= 0) {
document.getElementById("loanAmountError").textContent = "Please enter a valid loan amount.";
document.getElementById("loanAmountError").style.display = "block";
errors = true;
} else {
document.getElementById("loanAmountError").textContent = "";
document.getElementById("loanAmountError").style.display = "none";
}
if (isNaN(annualInterestRate) || annualInterestRate 100) {
document.getElementById(“annualInterestRateError”).textContent = “Please enter a rate between 0% and 100%.”;
document.getElementById(“annualInterestRateError”).style.display = “block”;
errors = true;
} else {
document.getElementById(“annualInterestRateError”).textContent = “”;
document.getElementById(“annualInterestRateError”).style.display = “none”;
}
if (isNaN(loanTermMonths) || loanTermMonths <= 0) {
document.getElementById("loanTermMonthsError").textContent = "Please enter a valid loan term in months.";
document.getElementById("loanTermMonthsError").style.display = "block";
errors = true;
} else {
document.getElementById("loanTermMonthsError").textContent = "";
document.getElementById("loanTermMonthsError").style.display = "none";
}
if (isNaN(extraPayment) || extraPayment 0) {
originalMonthlyPayment = loanAmount * (monthlyInterestRate * Math.pow(1 + monthlyInterestRate, loanTermMonths)) / (Math.pow(1 + monthlyInterestRate, loanTermMonths) – 1);
} else {
originalMonthlyPayment = loanAmount / loanTermMonths; // Simple division if rate is 0
}
originalTotalCost = originalMonthlyPayment * loanTermMonths;
originalTotalInterest = originalTotalCost – loanAmount;
// Calculate accelerated payoff
var remainingBalance = loanAmount;
var months = 0;
var newTotalInterestPaid = 0;
var amortizationData = [];
while (remainingBalance > 0) {
months++;
var interestForMonth = remainingBalance * monthlyInterestRate;
var principalForMonth = 0;
var currentPayment = originalMonthlyPayment + extraPayment;
// Ensure the final payment is not more than what’s needed
if (remainingBalance + interestForMonth loanTermMonths * 5) { // Arbitrary limit, e.g., 5x original term
console.error(“Calculation exceeded maximum iterations. Check inputs.”);
break;
}
}
var newLoanTermMonths = months;
var totalInterestSaved = originalTotalInterest – newTotalInterestPaid;
var newTotalCost = loanAmount + newTotalInterestPaid;
// Display results
document.getElementById(“totalInterestSaved”).textContent = formatCurrency(totalInterestSaved);
document.getElementById(“newLoanTermMonths”).textContent = newLoanTermMonths;
document.getElementById(“totalInterestPaid”).textContent = formatCurrency(newTotalInterestPaid);
document.getElementById(“totalCost”).textContent = formatCurrency(newTotalCost);
// Populate amortization table
populateAmortizationTable(amortizationData, originalMonthlyPayment, originalTotalInterest);
// Update chart
updateLoanChart(amortizationData, originalMonthlyPayment, loanTermMonths);
// Show sections
document.getElementById(“loanAmortizationTableSection”).style.display = “block”;
document.getElementById(“loanChartSection”).style.display = “block”;
}
function populateAmortizationTable(data, originalPayment, originalTotalInterest) {
var tableBody = document.getElementById(“amortizationTable”).getElementsByTagName(“tbody”)[0];
tableBody.innerHTML = “”; // Clear previous data
var originalTotalPaid = parseFloat(document.getElementById(“loanAmount”).value) + originalTotalInterest;
var originalMonths = parseInt(document.getElementById(“loanTermMonths”).value);
// Add original loan data for comparison (simplified)
var originalRow = tableBody.insertRow();
originalRow.insertCell().textContent = “Original”;
originalRow.insertCell().textContent = formatCurrency(parseFloat(document.getElementById(“loanAmount”).value));
originalRow.insertCell().textContent = formatCurrency(originalPayment);
originalRow.insertCell().textContent = formatCurrency(originalTotalInterest);
originalRow.insertCell().textContent = formatCurrency(parseFloat(document.getElementById(“loanAmount”).value));
originalRow.insertCell().textContent = formatCurrency(0); // Ending balance after original term
// Add accelerated payoff data
for (var i = 0; i < data.length; i++) {
var row = tableBody.insertRow();
row.insertCell().textContent = data[i].month;
row.insertCell().textContent = formatCurrency(data[i].startingBalance);
row.insertCell().textContent = formatCurrency(data[i].payment);
row.insertCell().textContent = formatCurrency(data[i].interestPaid);
row.insertCell().textContent = formatCurrency(data[i].principalPaid);
row.insertCell().textContent = formatCurrency(data[i].endingBalance);
}
}
function updateLoanChart(amortizationData, originalMonthlyPayment, originalLoanTerm) {
var ctx = document.getElementById('loanChart').getContext('2d');
// Destroy previous chart instance if it exists
if (chartInstance) {
chartInstance.destroy();
}
var labels = [];
var originalPayoffData = [];
var acceleratedPayoffData = [];
var currentOriginalBalance = parseFloat(document.getElementById("loanAmount").value);
var monthlyInterestRate = parseFloat(document.getElementById("annualInterestRate").value) / 100 / 12;
// Generate data points for original payoff
for (var i = 0; i <= originalLoanTerm; i++) {
labels.push(i);
originalPayoffData.push(currentOriginalBalance);
if (i < originalLoanTerm) {
var interest = currentOriginalBalance * monthlyInterestRate;
var principal = originalMonthlyPayment – interest;
currentOriginalBalance -= principal;
if (currentOriginalBalance < 0) currentOriginalBalance = 0;
}
}
// Generate data points for accelerated payoff
var acceleratedBalance = parseFloat(document.getElementById("loanAmount").value);
for (var i = 0; i < amortizationData.length; i++) {
// Ensure we have enough points for the original term for comparison, padding with zeros if needed
while (labels.length <= i) {
labels.push(labels.length);
originalPayoffData.push(0); // Pad original data if accelerated is shorter
}
acceleratedPayoffData.push(amortizationData[i].endingBalance);
}
// Pad accelerated data if it's shorter than original term
while (labels.length <= originalLoanTerm) {
labels.push(labels.length);
acceleratedPayoffData.push(0);
}
chartInstance = new Chart(ctx, {
type: 'line',
data: {
labels: labels,
datasets: [{
label: 'Original Loan Balance',
data: originalPayoffData,
borderColor: 'rgba(0, 74, 153, 1)',
backgroundColor: 'rgba(0, 74, 153, 0.2)',
fill: false,
tension: 0.1
}, {
label: 'Accelerated Payoff Balance',
data: acceleratedPayoffData,
borderColor: 'rgba(40, 167, 69, 1)',
backgroundColor: 'rgba(40, 167, 69, 0.2)',
fill: false,
tension: 0.1
}]
},
options: {
responsive: true,
maintainAspectRatio: false,
scales: {
x: {
title: {
display: true,
text: 'Month'
}
},
y: {
title: {
display: true,
text: 'Loan Balance ($)'
},
beginAtZero: true
}
},
plugins: {
title: {
display: true,
text: 'Car Loan Balance Over Time'
}
}
}
});
}
function resetForm() {
document.getElementById("loanAmount").value = "25000";
document.getElementById("annualInterestRate").value = "5.5";
document.getElementById("loanTermMonths").value = "60";
document.getElementById("extraPayment").value = "100";
// Clear errors
document.getElementById("loanAmountError").textContent = "";
document.getElementById("loanAmountError").style.display = "none";
document.getElementById("annualInterestRateError").textContent = "";
document.getElementById("annualInterestRateError").style.display = "none";
document.getElementById("loanTermMonthsError").textContent = "";
document.getElementById("loanTermMonthsError").style.display = "none";
document.getElementById("extraPaymentError").textContent = "";
document.getElementById("extraPaymentError").style.display = "none";
// Clear results
document.getElementById("totalInterestSaved").textContent = "$0";
document.getElementById("newLoanTermMonths").textContent = "0";
document.getElementById("totalInterestPaid").textContent = "$0";
document.getElementById("totalCost").textContent = "$0";
// Hide sections
document.getElementById("loanAmortizationTableSection").style.display = "none";
document.getElementById("loanChartSection").style.display = "none";
document.getElementById("copy-feedback").style.display = "none";
// Reset chart if it exists
if (chartInstance) {
chartInstance.destroy();
chartInstance = null;
}
}
function copyResults() {
var interestSaved = document.getElementById("totalInterestSaved").textContent;
var newTerm = document.getElementById("newLoanTermMonths").textContent;
var totalInterest = document.getElementById("totalInterestPaid").textContent;
var totalCost = document.getElementById("totalCost").textContent;
var loanAmount = document.getElementById("loanAmount").value;
var annualInterestRate = document.getElementById("annualInterestRate").value;
var loanTermMonths = document.getElementById("loanTermMonths").value;
var extraPayment = document.getElementById("extraPayment").value;
var assumptions = `Key Assumptions:\n- Original Loan Amount: $${loanAmount}\n- Annual Interest Rate: ${annualInterestRate}%\n- Original Loan Term: ${loanTermMonths} months\n- Extra Monthly Payment: $${extraPayment}`;
var resultsText = `— Car Loan Payoff Summary —\n\nEstimated Interest Saved: ${interestSaved}\nNew Loan Term: ${newTerm} months\nTotal Interest Paid: ${totalInterest}\nTotal Cost of Loan: ${totalCost}\n\n${assumptions}`;
// Use navigator.clipboard for modern browsers
if (navigator.clipboard && navigator.clipboard.writeText) {
navigator.clipboard.writeText(resultsText).then(function() {
var feedback = document.getElementById("copy-feedback");
feedback.style.display = "block";
setTimeout(function() { feedback.style.display = "none"; }, 3000);
}).catch(function(err) {
console.error('Could not copy text: ', err);
// Fallback for older browsers or if permission denied
copyToClipboardFallback(resultsText);
});
} else {
// Fallback for older browsers
copyToClipboardFallback(resultsText);
}
}
function copyToClipboardFallback(text) {
var textArea = document.createElement("textarea");
textArea.value = text;
textArea.style.position = "fixed"; // Avoid scrolling to bottom
textArea.style.left = "-9999px";
textArea.style.top = "-9999px";
document.body.appendChild(textArea);
textArea.focus();
textArea.select();
try {
var successful = document.execCommand('copy');
if (successful) {
var feedback = document.getElementById("copy-feedback");
feedback.style.display = "block";
setTimeout(function() { feedback.style.display = "none"; }, 3000);
} else {
console.error('Fallback copy failed');
}
} catch (err) {
console.error('Fallback copy error: ', err);
}
document.body.removeChild(textArea);
}
function toggleFaq(element) {
var p = element.nextElementSibling;
if (p.style.display === "block") {
p.style.display = "none";
} else {
p.style.display = "block";
}
}
// Initial calculation on page load
document.addEventListener('DOMContentLoaded', function() {
calculateLoan();
// Load Chart.js library dynamically if not already present
if (typeof Chart === 'undefined') {
var script = document.createElement('script');
script.src = 'https://cdn.jsdelivr.net/npm/chart.js@3.7.0/dist/chart.min.js'; // Use a specific version
script.onload = function() {
console.log('Chart.js loaded.');
// Recalculate after chart library is loaded to ensure chart is drawn
calculateLoan();
};
script.onerror = function() {
console.error('Failed to load Chart.js.');
// Optionally disable chart section or show error message
document.getElementById("loanChartSection").style.display = "none";
};
document.head.appendChild(script);
} else {
// If Chart.js is already loaded, just calculate
calculateLoan();
}
});