Car loan
Calculate the monthly payment and real APR of a loan to finance a car, based on the amount, term, nominal rate, and opening fee.
Results
Monthly payment
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Estimated APR
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Total cost of credit
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Total amount payable
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The payment is calculated using the French amortization system over the nominal rate. The APR additionally incorporates the arrangement fee and other costs, reflecting the real effective cost of the loan.
With fees and insurance / Without fees or insurance
With fees and insurance
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Without fees or insurance
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Amortization schedule
| Mes | Cuota | Interés | Capital | Pendiente |
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When should you use this calculator?
This page is specifically designed for financing a car purchase: the fields are pre-filled with an amount and term typical of this type of loan (shorter than a mortgage, but longer than many small personal loans). Adjust the amount, term, and nominal rate offered by the dealership or bank to see your real payment.
Practical example
For €15,000 repaid over 60 months (5 years) at a 7.5% nominal rate and a 1.5% opening fee, the monthly payment is €300.57, with an APR of 8.45% (higher than the nominal rate precisely because of the opening fee) and a total loan cost of €3,259.15 (total paid: €18,259.15).
Practical tips
When financing a car through the dealership itself, always compare the APR (not just the payment or the advertised nominal rate) with a personal loan from a bank: dealership financing sometimes includes mandatory insurance or add-on services that push the real APR above what it appears to be at first glance.
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Frequently asked questions
What term is typical for a car loan?
It usually ranges between 3 and 8 years, shorter than a mortgage since a car is an asset that loses value over time (unlike real estate), and banks prefer not to stretch out financing for a depreciating asset too long.
Is it better to finance a car at the dealership or take a personal loan from a bank?
It depends on the real APR of each offer: dealership financing sometimes includes attractive promotions, but it can also come with mandatory insurance or services that push the APR above a comparable personal loan. Always compare the final APR, not just the payment.
What happens if I want to cancel the car loan early?
Consumer credit regulations allow early repayment, with a possible legally capped fee (typically up to 0.5-1% of the amount repaid, depending on the remaining time). Check your contract's exact terms.
Can I simulate motorcycle financing with this same calculator?
Yes, the logic is the same; you'd just need to adjust the amount and term to what's typical for a motorcycle loan (usually a smaller amount). This site also has a dedicated motorcycle loan page with those values already pre-filled.