SchoolsFirst Auto Loan Calculator
Estimate your monthly payments, interest, and total cost for your next vehicle loan with the SchoolsFirst Auto Loan Calculator.
Calculate Your Auto Loan
What is an Auto Loan?
An auto loan is a type of financing provided to purchase a vehicle. The loan is repaid in monthly installments over a specific term, with interest applied.
How to Use This Calculator?
- Enter the total loan amount for the car you want to purchase.
- Specify the annual interest rate offered by SchoolsFirst.
- Provide the loan term in months.
- If applicable, enter the down payment amount.
Why Use SchoolsFirst Auto Loan?
- Low Interest Rates: Competitive rates for members.
- Flexible Terms: Choose a loan term that fits your budget.
- No Hidden Fees: Transparent loan process with no surprises.
Example Calculation
Assume the following details:
- Loan Amount: ₹10,00,000
- Down Payment: ₹2,00,000
- Interest Rate: 6%
- Loan Term: 60 months
Results:
- Loan Amount After Down Payment: ₹8,00,000
- Monthly Payment: ₹15,483.33
- Total Interest: ₹92,999.80
- Total Cost: ₹8,92,999.80