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Before getting a used car auto loan, you need to take the time to figure out how much you can really afford to spend. Our team at Car-N-Credit can answer your questions and assist you, but the process will go more smoothly if you have done some research yourself. Luckily, there are numerous auto loan calculators available online to help you determine your budget. Here are some of our favorites.

Bankrate

In the website’s auto loan calculator, Bankrate asks you to estimate how much you will borrow, the term of the loan, whether your auto is used or new, and your interest rate. If you do not know the interest rate, there is also a button to find the rate. Based on the information you provide, you will see figures for the estimated monthly payment, the total principal paid, and the total interest paid. There is no figure for the total cost of the loan, but you can get this yourself by adding the total principal paid to the total interest paid. There is also a button to compare various loan rates or to see the amortization schedule. One nice thing about Bankrate is that the same page shows average rates for automotive loans based on the loan terms and whether the vehicle is new or used. This reduces the guesswork you have to do in terms of the interest rate.

Cars.com

As an automotive authority, it should come as no surprise that Cars.com offers a very good auto loan calculator. It requires similar information as other calculators, including the vehicle price, down payment, trade-in value, interest rate, and term. One nice touch is that Cars.com’s calculator also asks for the sales tax, which most calculators tend to ignore. Based on the provided information, you will see the estimated payment per month. Unfortunately, instead of calculating the total amount you have to pay for the vehicle with interest, Cars.com just repeats the car price you input without interest.

OnlineLoanCalculator.Org

OnlineLoanCalculator.org keeps a simple interface with all the information you need. You input the purchase price, down payment, trade-in value, interest rate, loan term (in years), sales tax, and start date. Based on the given information, it will calculate your monthly payments. What is really great about this calculator is that you can get figures for monthly payments, the total of all payments, total interest paid, the date you will pay off the loan, and the yearly amortization schedule. It can also provide figures for interest, principal, and balance. There is even a graph of that amortization schedule for a visual representation.

NerdWallet

NerdWallet offers an auto loan calculator within its loan section. It is a useful way to check your budget. This calculator will require some key information and then lets you know what the figures would be for monthly payments, the total amount paid, and the total interest paid. The calculator starts by asking for your credit score, then the expected price of the car, your trade-in and/or down payment, your interest rate, and the number of months for the loan. The calculator asks for your credit score to get an estimate of your expected interest rate, so you can leave this field blank if you know the exact interest rate you will get. In addition to all the details it offers, one of the great things about this calculator is that it provides a separate figure for how much interest you will pay. This helps put the overall price in perspective.