Auto Loan Amortization Calculator Excel

To estimate the total cost of buying a car, including the purchase price, sales tax, and the numerous additional costs and fees that surface once you decide to make the purchase, use our free auto loan calculator. Your down payment, trade-in value, and cash rebate are taken into account when calculating the total loan amount on the worksheet. Then, by adjusting the loan amount, interest rate, term of the loan (years), and frequency of payments, you can analyze various loan types and create an amortization schedule using the auto loan payment calculator (an additional worksheet within the Excel workbook). Advertisement.

If you want to pay off your loan early to save money on interest, our auto loan calculator gives you complete flexibility in how to do so.

Important information: Many auto loans are in fact “Simple Interest Loans” with daily interest accruals. While our Auto Loan Calculator is excellent for performing quick calculations, if your loan is a simple interest loan, you might be able to obtain more precise results by using our Simple Interest Loan Calculator.

Auto Loan Calculator for Excel

License: Personal Use (not for distribution or resale)

Jon Wittwer stated, “No installation, no macros—just a simple spreadsheet.”

This Microsoft Excel workbook contains three different worksheets …

1. Use the Auto Loan Calculator worksheet to determine how much money you’ll need to put down as a down payment, cash back, destination charge, fees, sales tax, and trade-in value of an older vehicle.

2. Create an amortization table using the Payment Calculator worksheet (the one shown above) based on the amount of the auto loan, the annual interest rate, the length of the loan, and the frequency of payments. Take a look at how making extra payments can help you pay off your car loan sooner and pay less interest overall.

3. Utilizing data from the loan payment calculator, the third worksheet (Loan Comparisons) generates graphs that demonstrate how various factors, such as interest rates, the number of payments, and the amount of the down payment, affect the monthly payment and total amount of interest.

Using the Auto Loan Calculator

The spreadsheet itself contains instructions for using the loan calculators, primarily in the form of cell comments. In essence, you merely enter values in the cells with a white background to observe what happens to the other numbers. You can also enter values in the payment calculator’s yellow cells (the Extra Payments column). The spreadsheet has been left unlocked so that you are free to make any changes you see fit for your own use. Before attempting to go it alone, make sure you understand how the equations and formulas function. Although we don’t offer technical assistance for developing customized spreadsheets, if you have any recommendations or comments, please let us know.

Buying vs. Leasing Calculators

There isn’t a calculator to compare leasing to buying in our auto loan calculator spreadsheet. buying. However, you could use one of the following online calculators:

Cash Back vs. Low-Interest Financing

The automaker occasionally provides incentives in the form of a cash rebate or a lower interest rate, but rarely both at once. Our spreadsheet’s auto loan calculators allow you to enter a cash rebate and the annual interest rate. To compare two versions of the spreadsheet, you can save (or print out) each one separately.

Check out the Low APR vs. Cash Back Calculator at

See Also:

  • Online Auto Loan Calculator at : A very nice online loan calculator that creates an amortization table, too.
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    How do you calculate loan amortization in Excel?

    Now, let’s go through the process step-by-step.
    1. Set up the amortization table. Create the input cells where you will enter the known elements of a loan to begin with:
    2. Calculate total payment amount (PMT formula) …
    3. Calculate interest (IPMT formula) …
    4. Find principal (PPMT formula) …
    5. Get the remaining balance.

    How do you calculate monthly amortization on a car loan?

    How to Calculate Your Auto Loan Amortization
    1. Multiply your loan’s interest rate by your outstanding loan balance.
    2. Divide by 12.

    How do I calculate monthly car payments in Excel?

    You will pay a total of $22,645 for a $20,000 loan at 5% for 60 months (5 years). 48, whereas you would pay $21,562 for the same loan at 3%. 43.