Wolfram|Alpha can quickly and easily calculate monthly payments and interest costs associated with auto loans of any length and amount. You can calculate payoff times and total interest payments; generate plots and monthly payment tables showing balances over time; and dynamically compute the effects of different down payments and interest rates.
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Enter your queries using plain English. Your input can include complete details about loan amounts, down payments and other variables, or you can add, remove and modify values and parameters using a simple form interface.
The simplest loan calculation requires only a total loan amount, a loan period and the annual percentage rate of interest on the loan. From these variables, Wolfram|Alpha can compute monthly payments, total interest charges and breakdowns of payments against the principal loan amount and interest over the life of the loan.
Loan computations can also incorporate down payments or balloon payments, which represent a balance due at the end of the loan term. By adjusting loan amounts and interest rates as well as different down payment amounts, you can determine the car loan you might be able to afford, and calculate recurring costs over time.