Use this car loan calculator to determine your monthly payments and total cost for financing your classic car purchase.

## Car Loan Calculator

### How to Use the Car Loan Calculator

To use the car loan calculator, input the total loan amount (the price of the car minus any down payment or trade-in value), the annual interest rate on the loan, and the term of the loan in years. Once all fields are filled, click the “Calculate” button. The monthly payment will be calculated and displayed in the results.

### How the Calculator Works

The calculator uses the formula for calculating the monthly payment of a fixed term loan. The formula factoring in the total loan amount (P), annual interest rate (r), converted to a monthly rate, and the loan term in months (n). The monthly payment is calculated with the assumption of equal payments each month.

If an interest rate is applied (r), the calculator uses the formula:

P / ((1 - (1 + r) ^ -n) / r)

If there is no interest rate, the total loan amount is divided evenly by the number of months.

### Limitations

The calculator assumes a fixed interest rate throughout the entire term of the loan, and does not account for variations such as variable rates. It also does not include other potential costs associated with a car loan, such as taxes, fees, insurance, or maintenance. Always consult with a financial advisor or lender for detailed loan information and to understand all potential costs.