How to calculate car loan payment

In this video, I'll show you have to calculate your car loan payment, interest rate, total price and how long to pay it off. When you buy a car and need to finance it, make sure you know how to calculate a car loan payment.

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Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.

TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™

twitter: @travissickle

Sickle Hunter Financial Advisors
1646 W Snow Avenue
Suite 144
Tampa, FL 33606

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Information in this video is for educational and entertainment purposes only.
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#travissickle

[youtubefun]

After watching this video I think bicycle is better for me

[curtisreese]

Outstanding class Travis, thank you for sharing your knowledge sir.

[divadjm]

A more accurate description of this tutorial would be “How to use a financial calculator.”

[mayraparedes]

Hi I am looking to buy a new car, but I am a little confused in the video the loan amt. Is 20, 000, and the interest rate is 1, 562.43, why is the total cost to own 31, 562.43 shouldn’t it be 21, 562.43?

[barcacona]

Honestly, I have an engineering degree and I find it absolutely complex to understand this calculator. If only you could explain this with examples and with pen and paper you would benefit most of us..

[girlband]

60 monthly payments of $16.67 for every $1, 000 financed. What's this all about on a 0% apr loan?

[dapperlygrungy]

I was hoping you would do a tutorial on the physical calculation without the use of a calculator. Thumbs up anyway.

[stevehalter]

So I bought a car last year on 75 months at 4.7%. How can I figure out how much I should pay weekly, in order to pay it off in 48 months? My balance is 29850.00.

[olgawatson]

Excellent presentation. Well explained.

[vilmaestrada]

Where's the link you said you would

[mikesmoot]

My question is, what if you pay off you interest rate, so lets say I have a loan for 17.000 with 3% interest rate so it’s 1400 what if I just pay off it all off wouldn’t that now allow me to just may my car note, because let’s say your only paying 399 a month 168 is going towards the car payment and the half is going towards the interest so you in your car for a longer period of the time. But if I pay the interest rate off I can focus on paying the car not off faster, I meant principal payments

[henryhill]

Car Loans are for FOOLS! Who cares what you drive! Stop your EGO. Buy a cheap Dependable car for CASH! Save your $ and Sanity. Wanna be rich when you get old? Don't take out Loans!
If you have a car loan, you MUST insure the loan for the bank, and you're a FOOL!

[jennifernagy]

Omg will this work in Canada or is y’alls loans in the states different lol

[steveaustin]

10bii emulators -- GOTTA LOVE IT! (Every finance student's forced marriage.)

[trentcalson]

I also got two biweekly paystub for my loan to be approved

[Bagbag]

I’m having a hard time with the i/yr
I was under the impression that the interest at a dealership was yearly
But they told me it was monthly so every month my interest is based on my remaining principal
So if I have an interest rate of 3% then my yearly interest rate is 36? Or still 3%? I’m just trying to figure out if I should put 3.00 or 36.00 in the I/YR

[powerofknowledge]

This would have been so much easier to understand with a normal calculator

[JD-kfki]

And + Sale tax + license fee + registration + doc fee + all kinds of fee.

[areviryyr]

Thanks🙏 I hate math but could understand this.

[BearPapa]

Just down load car payment calculator it works . Free