Auto Loan

Summary of auto loan

Amount
($)
Loan amount $20,000.00
Term 36 months
Rate 1.9%
Monthly payment: $571.98
Total Payment $20,591.24
Total Principal $20,000.00
Total Interest $591.24
 

Amortization tables

Year 1
Month Interest Paid Principal Paid Balance
1 $31.67 $540.31 $19,459.69
2 $30.81 $541.17 $18,918.52
3 $29.95 $542.02 $18,376.50
4 $29.10 $542.88 $17,833.61
5 $28.24 $543.74 $17,289.87
6 $27.38 $544.60 $16,745.27
7 $26.51 $545.47 $16,199.80
8 $25.65 $546.33 $15,653.47
9 $24.78 $547.19 $15,106.28
10 $23.92 $548.06 $14,558.22
11 $23.05 $548.93 $14,009.29
12 $22.18 $549.80 $13,459.49
Summary of Year 1
Total spending: 6,863.75
Total interest: 323.24
Total principal: 6,540.51
Year 2
Month Interest Paid Principal Paid Balance
1 $21.31 $550.67 $12,908.82
2 $20.44 $551.54 $12,357.28
3 $19.57 $552.41 $11,804.87
4 $18.69 $553.29 $11,251.58
5 $17.82 $554.16 $10,697.42
6 $16.94 $555.04 $10,142.38
7 $16.06 $555.92 $9,586.46
8 $15.18 $556.80 $9,029.66
9 $14.30 $557.68 $8,471.98
10 $13.41 $558.56 $7,913.41
11 $12.53 $559.45 $7,353.96
12 $11.64 $560.34 $6,793.63
Summary of Year 2
Total spending: 6,863.75
Total interest: 197.88
Total principal: 6,665.87
Year 3
Month Interest Paid Principal Paid Balance
1 $10.76 $561.22 $6,232.40
2 $9.87 $562.11 $5,670.29
3 $8.98 $563.00 $5,107.29
4 $8.09 $563.89 $4,543.40
5 $7.19 $564.79 $3,978.61
6 $6.30 $565.68 $3,412.93
7 $5.40 $566.58 $2,846.36
8 $4.51 $567.47 $2,278.89
9 $3.61 $568.37 $1,710.52
10 $2.71 $569.27 $1,141.25
11 $1.81 $570.17 $571.07
12 $0.90 $571.07 $0.00
Summary of Year 3
Total spending: 6,863.75
Total interest: 70.12
Total principal: 6,793.63

Help

  • Auto Loan amount - the final sale price of vehicle.
  • Loan term - the number of monthly payments, also called the loan's term, e.g. 60 months(5 years).
  • Annual interest rate - interest rate by year, expressed as a percentage.