: Principal loan amount (Total price minus down payment and trade-in value). : Monthly interest rate (Annual rate divided by 12).

M=Pr(1+r)n(1+r)n−1cap M equals cap P the fraction with numerator r open paren 1 plus r close paren to the n-th power and denominator open paren 1 plus r close paren to the n-th power minus 1 end-fraction

Experts like those at The Money Guy recommend the to ensure a car doesn't strain your finances: 20% down payment. 3 -year (36-month) loan term. 8% maximum of your gross monthly income for the payment. Popular Online Calculators Auto Loan Calculator | Navy Federal Credit Union