Auto Loan Payment Calculator
Estimate your monthly auto loan payments based on loan amount, interest rate, and loan term.
Estimated Monthly Payment:
$0.00
function calculateLoanPayment() {
var loanAmount = parseFloat(document.getElementById(“loanAmount”).value);
var interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12;
var loanTerm = parseFloat(document.getElementById(“loanTerm”).value) * 12;
if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0) {
alert("Please enter valid positive values.");
return;
}
var monthlyPayment = (loanAmount * interestRate) / (1 – Math.pow(1 + interestRate, -loanTerm));
document.getElementById("monthlyPayment").textContent = "$" + monthlyPayment.toFixed(2);
}
