Space Coast Auto Loan Calculator

What is a Space Coast Auto Loan?

Space Coast Credit Union offers auto loans with competitive interest rates and flexible loan terms. This calculator helps you determine your monthly payment based on the loan amount, interest rate, and loan term.

How to Calculate Monthly Auto Loan Payments?

The formula for calculating monthly payments is as follows:

Monthly Payment = Loan Amount × (Monthly Interest Rate) / (1 - (1 + Monthly Interest Rate) ^ -Total Payments)

Why Use the Space Coast Auto Loan Calculator?

• Estimate Payments: Quickly estimate how much you will pay monthly for your auto loan.
• Plan Your Budget: Use the calculator to plan your finances based on the loan details.
• Choose the Best Loan Option: Test different loan amounts and terms to find the best deal.

Example Calculation

Assume the following loan details:

• Loan Amount: USD 20,000
• Annual Interest Rate: 5%
• Loan Term: 5 years

Results:

• Monthly Payment: USD 377.42