Auto Loan Calculator
About Auto Loans
Auto loans are secured loans specifically for purchasing vehicles. The vehicle serves as collateral, which typically results in lower interest rates compared to unsecured loans.
Tips for Auto Loans
- A larger down payment reduces your monthly payments and total interest paid
- Consider the total cost of ownership, including insurance and maintenance
- Shorter loan terms usually mean higher monthly payments but less total interest
- Trading in your current vehicle can reduce the amount you need to finance