How to use the Loan Calculator
Enter your loan amount, interest rate, and term to see the monthly payment and total cost. Select a loan type to label your results, then choose a preset term or enter a custom number of months.
- →Loan Amount — the amount you plan to borrow, not the purchase price
- →Interest Rate — use the annual rate quoted by your lender
- →Loan Term — choose from preset months or enter a custom term; longer = lower payment but more total interest
- →Loan Type — cosmetic label for your results (personal, car, student, or other)