Georges Excel Car Loan Calculator v2.0
Car payment calculator to help estimate your monthly car payment when financing a car loan or refinancing car loan. Simple car loan calculator spreadsheet that helps you quickly estimate and compare different car loan amounts, interest rates and years of loan.
Using this Microsoft Excel template, enter the car loan amount, car loan interest rate, and length of car loan in years and then the estimated monthly car payment is automatically calculated based on those three variables. Also, the total interest over the life of the car loan is estimated based on the interest rate that you enter. Finding the best car loan rates is important to help reducing the overall interest on the car loan when financing or refinancing your car loan.
If you are purchasing a new car or purchasing a used car and do not have the cash do pay for the car in full, then financing a car purchase using a car loan is another option. To lower the monthly car payment, you can add a car down payment using cash for part of the price of the car and then finance the balance using a car loan. This is where a car payment calculator can help estimate your car payments and interest costs.
If you plan to finance a car purchase, there are several options to help reduce the monthly car payment:
- You can increase the cash down payment which may require delaying your car purchase to save up more money,
- Find the best interest rate to help lower the interest costs
- Increase the length of the loan. However, increasing the term of the car loan also increases the total interest cost over the life of the car loan.
- Buy a cheaper car that is less expensive but still meets your overall goals for car reliability, car safety and car size.
The car loan calculator allows you to adjust these variables to see the impact on the estimated monthly car payment:
- car loan amount
- interest rate on car loan
- loan term (max of 8 years for this car payment calculator)
You can use this Excel car payment calculator spreadsheet on your desktop computer, laptop computer or mobile device as long has you meet the required system requirements. The car loan payment estimator is delivered as a digital download. Please note that all amounts calculated using the car payment calculator are only estimates so for example, the Excel template calculates the estimated monthly car payment and the estimated total interest cost based on the information that you enter in. If you entered into and signed a contract for an actual car loan, you would need to refer to your bank or other lending institution and loan contract for actual payments due, interest rate, and interest costs over life of car loan.
If you do not want an car payment calculator Excel template that you can use on your own computer and save information to, here is a simple free online car payment calculator.
System requirements:
- PC with Microsoft Excel 2007, Excel 2010, Excel 2013, Excel 2016, Excel 2019, or Excel for Office 365.
(standalone version or part of Office 365 subscription) - Mac Computer with Microsoft Excel 2016 for Mac, Excel 2019 for Mac, or Excel for Office 365 for Mac.
(standalone version or part of Office 365 subscription) - Not compatible with Google Sheets (Google Spreadsheets)
- Supported in the United States, Canada, and Australia as amounts are formatted with the $ symbol.
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