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Joe Dike, CPA, CFP®, PFS, CSA®

Calculators


Got a question that involves number crunching? Use the calculators on this page to find the mathematical answer to the most commonly asked number-crunching questions, and see your inputs displayed next to the graph, chart, and/or table output in a side-by-side display.

Calculator: Print This Page
Auto Loan Payment Calculator
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Before buying a new or used car, it's likely that many questions will arise, particularly in regard to financing. For example:


What will the monthly payment be?


How will the loan term affect the monthly payment (e.g., 3-year, 6-year)?


How will the interest rate affect the monthly payment?


This calculator can be used to answer these questions and illustrate key issues.


Enter the required values to calculate the monthly payment, and select the desired output. An annual amortization table and two charts comparing principal and interest payments can be generated.


Auto Loan Payment Calculator Results
Monthly payment: $359.37Total payments: $21,562Total interest: $1,562

Your monthly payment is: $359

This chart shows the part of your yearly payments that is applied to interest and the part that is applied to principal.

Over time, though your payments stay the same, the interest portion decreases, and the principal portion increases.


Over the term of your loan you have total payments of $21,562, of which $1,562 is interest payments.



    Assumptions

  • Calculation assumes constant monthly payments over the life of the loan, monthly calculation of interest on the remaining unpaid principal, and no prepayment. Only principal and interest payments are included; property tax and/or insurance payments are not included.
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 Joe H. Dike is a registered representative registered to transact business with clients in Texas, Arkansas, and Oklahoma. Joe H. Dike is advisory licensed in the following states, Texas, Arkansas, and Oklahoma. Joe H. Dike is also an insurance agent licensed in Texas. If you are not a resident of the states noted above, all investment-related information on this site is for informational purposes only and does not constitute a solicitation or offer to sell securities or insurance services over the internet. Securities offered through H.D. Vest Investment ServicesSM, Member: SIPC, Advisory Services offered through H.D. Vest Advisory Services SM, 6333 North State Highway 161, Fourth Floor, Irving, TX 75038, 972-870-6000.

Investments & Insurance Products:
Are not insured by the FDIC or any federal government agency
Are not deposits of or guaranteed by the bank or any bank affiliate
May lose Value

This communication is strictly intended for individuals residing in the state(s) of AR and TX. No offers may be made or accepted from any resident outside the specific states referenced.
 


Check the background of this financial professional on FINRA's BrokerCheck.