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While the interest rate on your car loan is important, the loan term can have an even bigger impact on monthly payments. For a typical car, pickup truck or SUV, the difference between financing for 24 and 60 months can exceed $500 a month. However, you’ll pay more in interest charges over the years for longer term loans. You can use this calculator to find a comfortable balance between monthly payment amounts and overall financing charges.
The online calculator is provided for illustrative purposes only, and the information obtained by using the online calculator is not, and should not be taken as, legal or financial advice to any person or company. Results may vary depending on the accuracy and comprehensiveness of the information you provide while using the online calculator. The online calculator is not substitute for consulting a qualified professional. Coastal Federal Credit Union accepts no liability for any losses or liabilities allegedly arising from the use of the online calculator by any person or company.
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