You can use this low interest or zero percent car loan calculator to figure out your monthly savings if you were to be offered this type of financing option on a new automobile. The calculator allows you to compare your monthly payment savings and total savings over the life of the car loan.
The variables used in our online calculator are defined in detail below, including how to interpret the results.
The car loan amount is the net amount financed after subtracting out trade-in allowances and down payments. This value is used as the basis for all the monthly car loan payment calculations.
This is the annual interest rate on the automobile loan. This is not the APR, which takes into account other costs associated with the loan. This particular calculator will compare this percentage rate to a zero percent financing option.
This is the monthly payment necessary to repay the car loan over its lifetime. This calculator provides the user with two monthly loan payments: one for the standard financing arrangement, and a second reflecting a low interest or zero percent financing arrangement.
This is the difference in the monthly payment, comparing a standard financing arrangement and a zero percent financing offer.
The total amount paid to the bank or lending institution over the life of the car loan. Once again there are two values calculated, one for the standard loan, and one for zero percent financing.
This is the total value that a low interest rate loan, or zero percent financing, delivers in terms of total savings over the life of the car loan.
Zero Interest Car Loan Calculator - Copyright © 2005 - 2015 Money-Zine.com (Last Reviewed on January 16, 2015)
Disclaimer: These online calculators are made available and meant to be used as a screening tool for the investor. The accuracy of these calculations is not guaranteed nor is its applicability to your individual circumstances. You should always obtain personal advice from qualified professionals.