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Car loan monthly payment

Frequently Asked Questions

How is a car loan instalment calculated?
With the standard amortisation formula: monthly payment = Pยทrยท(1+r)โฟ รท ((1+r)โฟ โˆ’ 1), where P is the financed amount (price minus down payment), r is the monthly rate and n is the number of months.


Calculate the monthly payment, total interest and total cost of a car loan.