{"id":37860,"date":"2022-03-25T11:05:55","date_gmt":"2022-03-25T11:05:55","guid":{"rendered":" https:\/\/dev.way.com\/blog\/?p=37860"},"modified":"2022-04-25T07:55:57","modified_gmt":"2022-04-25T07:55:57","slug":"how-are-car-loan-payments-calculated","status":"publish","type":"post","link":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/","title":{"rendered":"How Are Car Loan Payments Calculated?"},"content":{"rendered":"<p style=\"text-align: center;\"><em>You can avoid paying huge car loan payments if you know what goes into calculating them. Here&#8217;s a quick breakdown to keep you in the loop!<\/em><\/p>\n<p style=\"text-align: justify;\">Buying a car is often an exhilarating experience &#8211; right from doing your research, discussing your choices with your peers, and doing test drives at the dealership. In the end, nothing beats the feeling of sitting behind the wheel of your dream car&#8230; until the time comes to start paying the auto loan! That&#8217;s when you start scratching your head and wondering, &#8220;How are these car loan payments calculated?&#8221;<\/p>\n<p style=\"text-align: justify;\">It&#8217;s always best to do a bit of calculation beforehand so that you&#8217;re not caught unawares. Doing so will allow you time to adjust your finances and budget enough money to pay off the loan in time. Let&#8217;s take a look at how car payments are calculated.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #e71346;color:#e71346\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #e71346;color:#e71346\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#What_Is_a_Car_Loan_Payment\" >What Is a Car Loan Payment?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#What_Is_Included_in_the_Car_Loan_Payment\" >What Is Included in the Car Loan Payment?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#How_Can_You_Find_Out_Your_Total_Car_Loan_Amount\" >How Can You Find Out Your Total Car Loan Amount?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#What_Is_the_Formula_for_Calculating_Monthly_Car_Loan_Payments\" >What Is the Formula for Calculating Monthly Car Loan Payments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#How_Can_You_Easily_Calculate_Car_Loan_Payments\" >How Can You Easily Calculate Car Loan Payments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#How_Much_Does_the_Average_Car_Loan_Payment_Cost\" >How Much Does the Average Car Loan Payment Cost?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#How_Can_You_Lower_Your_Car_Loan_Payments\" >How Can You Lower Your Car Loan Payments?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#Is_a_72-Month_Term_Too_Long_for_a_Car_Loan\" >Is a 72-Month Term Too Long for a Car Loan?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_a_Car_Loan_Payment\"><\/span>What Is a Car Loan Payment?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">When you want to purchase a car, it&#8217;s unlikely that you will have enough money to buy it outright. Most people take out an auto loan from a financial institution like a bank or dealership. The total amount loaned is called the <strong>principal,<\/strong> which is then repaid to the lender in monthly installments called <strong>car loan monthly payments<\/strong>. These payments include <strong>interest charges<\/strong> accrued over the course of the loan.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_Included_in_the_Car_Loan_Payment\"><\/span>What Is Included in the Car Loan Payment?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Besides the principal and interest owed every month, the car loan payment also includes other charges and fees related to optional add-ons and insurance charges.<\/p>\n<p><a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/02\/REFINANCE-BANNER.png\" alt=\"Refinance your car loan payments easily with Way.com\" width=\"744\" height=\"276\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Can_You_Find_Out_Your_Total_Car_Loan_Amount\"><\/span>How Can You Find Out Your Total Car Loan Amount?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><strong>The total loan amount is often not the same as the purchase price of the vehicle<\/strong>. There will be additional charges and rebates that you will have to add\/subtract to reach the final loan amount. Follow these steps to find the exact amount:<\/p>\n<h2>Step 1: Settle On a Purchase Price for Your Car<\/h2>\n<p style=\"text-align: justify;\">This is the base amount over which the rest of the calculations need to be done. If you negotiate well, you may be able to get the car at a reduced rate than the asking price.<\/p>\n<ul>\n<li style=\"text-align: justify;\">Let&#8217;s imagine that you negotiate the price for a new car and finalize it with the dealer at <strong>$20,000.\u00a0<\/strong><\/li>\n<\/ul>\n<h2>Step 2: Calculate Sales Tax and Add It to the Purchase Price<\/h2>\n<p style=\"text-align: justify;\">Sales tax varies from state to state &#8211; so ensure you find out what it costs where you live.<\/p>\n<ul>\n<li style=\"text-align: justify;\">If the sales tax is 7%, along with $200 charges as title fees. Then the tax amount is (20,000*0.07) + 200 = $1600. The total cost of the car becomes <strong>20,000 + 1600 = $21,600.<\/strong><\/li>\n<\/ul>\n<h2>Step 3: Deduct the Trade-in Value of Your Old Car (If Applicable)<\/h2>\n<p style=\"text-align: justify;\">If you are trading in your old car, you can deduct the current resale value from the total cost of the new car.<\/p>\n<ul>\n<li style=\"text-align: justify;\">If the trade-in value is $3000, then the total purchase price becomes <strong>21,600 &#8211; 3000 = $18,600.<\/strong><\/li>\n<\/ul>\n<h2>Step 4: Add Dealership Fees, Document Fees, and Other Charges<\/h2>\n<p style=\"text-align: justify;\">Different dealers have service handling fees to help you process the loan documents.<\/p>\n<ul>\n<li style=\"text-align: justify;\">Let&#8217;s suppose the dealership charges you an average of $500 in fees. Now the total cost becomes <strong>18,600 + 500 = 19,100.<\/strong><\/li>\n<\/ul>\n<h2>Step 5: Subtract Any Rebates or Discounts That You Qualify For<\/h2>\n<p style=\"text-align: justify;\">Certain manufacturers and dealerships offer rebates and discounts to encourage brand loyalty.<\/p>\n<ul>\n<li style=\"text-align: justify;\">If your brand loyalty rebate is $1000, then the cost of the new car is now<strong> 19,100 &#8211; 1000 = $18,100.<\/strong><\/li>\n<\/ul>\n<h2>Step 6: Subtract the Down Payment You Intend to Pay<\/h2>\n<p style=\"text-align: justify;\">The down payment is the amount of money you can afford to pay out of your pocket immediately. This will further reduce the total loan amount.<\/p>\n<ul style=\"text-align: justify;\">\n<li>If your down payment is $3000, then the total loan amount is <strong>18,100 &#8211; 3000 = $15,100.<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Therefore, you have calculated the <strong>total loan amount you need to apply for as $15,100<\/strong>. To make things simpler, the Consumer Financial Protection Bureau has created <a href=\"https:\/\/files.consumerfinance.gov\/f\/documents\/201606_cfpb_auto-loan-worksheet.pdf\" target=\"_blank\" rel=\"noopener\">a simple checklist<\/a> that you can use to calculate your total loan amount easily.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_the_Formula_for_Calculating_Monthly_Car_Loan_Payments\"><\/span>What Is the Formula for Calculating Monthly Car Loan Payments?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-37910 size-large\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_115748612_XL-min-1024x683.jpg\" alt=\"How can you calculate your car loan monthly payments?\" width=\"640\" height=\"427\" srcset=\"http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_115748612_XL-min-1024x683.jpg 1024w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_115748612_XL-min-300x200.jpg 300w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_115748612_XL-min-768x512.jpg 768w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_115748612_XL-min-1536x1024.jpg 1536w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_115748612_XL-min-2048x1365.jpg 2048w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_115748612_XL-min-600x400.jpg 600w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p style=\"text-align: justify;\">The above amount is paid off in the form of an amortized loan &#8211; which means that you pay scheduled, periodic, equal installments over the life of the loan. If you want to manually calculate your monthly car loan payments, use the formula:<\/p>\n<p><img decoding=\"async\" class=\"XqHOTb IGEbUc aligncenter\" role=\"img\" src=\"https:\/\/www.gstatic.com\/education\/formulas2\/397133473\/en\/amortization_calculator.svg\" alt=\"A=P \\frac {i(1+i)^n}{(1+i)^n-1}\" data-atf=\"0\" data-frt=\"0\" \/><\/p>\n<p style=\"text-align: justify;\">where<\/p>\n<ul style=\"text-align: justify;\">\n<li>P = the principal amount<\/li>\n<li>i = the interest rate per month, which equals the annual interest rate divided by 12<\/li>\n<li>n = the total number of months<\/li>\n<li>A = monthly payment to be paid<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">In our above example, let&#8217;s assume the<strong> interest rate (i) is 7%<\/strong>, and you qualify for a<strong> loan term (n) of 4 years (48 months)<\/strong>.<\/p>\n<p style=\"text-align: justify;\"><strong>Using the above formula, the monthly car loan payment comes out to $361.59 per month.<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Can_You_Easily_Calculate_Car_Loan_Payments\"><\/span>How Can You Easily Calculate Car Loan Payments?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span data-contrast=\"none\">Of course, math may not always be your strong suit &#8211; and who has the time to sit and calculate anyway? Skip the formulas and easily find your car loan monthly payment by using an <strong>Online Auto Loan Calculator.<\/strong> By just inputting the necessary information, you can not only find out the due monthly amount but also compare the amounts with different rates and terms.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Much_Does_the_Average_Car_Loan_Payment_Cost\"><\/span>How Much Does the Average Car Loan Payment Cost?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Though it depends on various factors like your credit score, payments history, sales taxes in the state you live in, etc., <a href=\"https:\/\/www.cnbc.com\/2021\/03\/04\/monthly-auto-loan-payments-surge-to-record-highs-experian-says.html\" target=\"_blank\" rel=\"noopener\">Experian reports that the average monthly car loan payment is around $576<\/a> for new cars and $400 for used cars. According to their data, the total loan amounts for new vehicles have risen to an average of $35,000 &#8211; up by almost $2000 from last year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Can_You_Lower_Your_Car_Loan_Payments\"><\/span>How Can You Lower Your Car Loan Payments?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Whether you\u2019re already paying car loan monthly amounts or considering taking a loan to buy a new car, consider these <a href=\" https:\/\/dev.way.com\/blog\/how-to-lower-car-payments\/\" target=\"_blank\" rel=\"noopener\">options to lower your monthly payments:<\/a><\/p>\n<ul>\n<li style=\"text-align: justify;\">Ensure you have a good credit score and consistent payment history before applying for a loan<\/li>\n<li style=\"text-align: justify;\">Always<a href=\" https:\/\/dev.way.com\/blog\/how-can-i-lower-my-car-interest-rate\/\" target=\"_blank\" rel=\"noopener\"> negotiate with the lender for a good APR<\/a><\/li>\n<li style=\"text-align: justify;\">If you&#8217;re already paying high amounts, consider <a href=\" https:\/\/dev.way.com\/blog\/how-to-refinance-your-car-loan\/\" target=\"_blank\" rel=\"noopener\">auto loan refinancing to a lower APR<\/a><\/li>\n<li style=\"text-align: justify;\">You can also refinance your auto loan to a longer term and pay less every month<\/li>\n<li style=\"text-align: justify;\">If you do not have good enough credit to lower your payment, you can refinance your loan with a co-signer<\/li>\n<li style=\"text-align: justify;\">If you&#8217;re looking to purchase a vehicle, choosing a used car will help you get lower monthly payments<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Is_a_72-Month_Term_Too_Long_for_a_Car_Loan\"><\/span>Is a 72-Month Term Too Long for a Car Loan?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">The longer your loan term, the more you will likely pay as interest charges. In fact, for 72-month or 84-month loan terms, you may end up paying more than your car is worth. <strong>Most experts agree that a loan term below 60 months is the ideal length<\/strong>.<\/p>\n<p><a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/02\/REFINANCE-BANNER.png\" alt=\"How can you calculate your car loan payments?\" width=\"744\" height=\"276\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p style=\"text-align: center;\"><em>Here\u2019s more info on\u00a0<\/em><a tabindex=\"-1\" title=\"https:\/\/www.way.com\/airport-parking\" href=\"https:\/\/www.way.com\/airport-parking\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Link top-rated airport parking\"><em>top-rated airport parking<\/em><\/a><em>,\u00a0<\/em><a tabindex=\"-1\" title=\"https:\/\/www.way.com\/cities\" href=\"https:\/\/www.way.com\/cities\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Link the best parking spots in your city\"><em>the best parking spots in your city<\/em><\/a><em>, the most\u00a0<\/em><a tabindex=\"-1\" title=\"https:\/\/www.way.com\/insurance\" href=\"https:\/\/www.way.com\/insurance\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Link affordable insurance\"><em>affordable insurance<\/em><\/a><em>\u00a0for your car, and\u00a0<\/em><a tabindex=\"-1\" title=\"https:\/\/www.way.com\/car-wash-near-me\" href=\"https:\/\/www.way.com\/car-wash-near-me\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Link top-rated car washes near you\"><em>top-rated car washes near you<\/em><\/a><em>.<\/em><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You can avoid paying huge car loan payments if you know what goes into calculating them. Here&#8217;s a quick breakdown to keep you in the loop! Buying a car is often an exhilarating experience &#8211; right from doing your research, discussing your choices with your peers, and doing test drives at the dealership. In the&hellip; <a class=\"more-link\" href=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/\">Continue reading <span class=\"screen-reader-text\">How Are Car Loan Payments Calculated?<\/span><\/a><\/p>\n","protected":false},"author":46,"featured_media":37909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1962,1855],"tags":[5389,5390,5391,5392],"class_list":["post-37860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auto-refinance","category-finance","tag-calculating-a-car-payment","tag-how-to-calculate-interest-on-a-car-loan-formula","tag-car-payment-calculator-formula","tag-how-to-calculate-car-loan-interest","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.3 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How Are Car Loan Payments Calculated?<\/title>\n<meta name=\"description\" content=\"You can avoid paying huge car loan payments if you know what goes into calculating them. Here&#039;s a quick breakdown to keep you in the loop!\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Are Car Loan Payments Calculated?\" \/>\n<meta property=\"og:description\" content=\"You can avoid paying huge car loan payments if you know what goes into calculating them. Here&#039;s a quick breakdown to keep you in the loop!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/\" \/>\n<meta property=\"og:site_name\" content=\"Way Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-25T11:05:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-25T07:55:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_71066005_XL-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"2560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mahesh SL\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mahesh SL\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/\"},\"author\":{\"name\":\"Mahesh SL\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#\\\/schema\\\/person\\\/c916386c61281bccf925ffea1c3d35d9\"},\"headline\":\"How Are Car Loan Payments Calculated?\",\"datePublished\":\"2022-03-25T11:05:55+00:00\",\"dateModified\":\"2022-04-25T07:55:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/\"},\"wordCount\":1115,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Depositphotos_71066005_XL-scaled.jpg\",\"keywords\":[\"calculating a car payment\",\"how to calculate interest on a car loan formula\",\"car payment calculator formula\",\"how to calculate car loan interest\"],\"articleSection\":[\"Auto Refinance\",\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/\",\"url\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/\",\"name\":\"How Are Car Loan Payments Calculated?\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Depositphotos_71066005_XL-scaled.jpg\",\"datePublished\":\"2022-03-25T11:05:55+00:00\",\"dateModified\":\"2022-04-25T07:55:57+00:00\",\"description\":\"You can avoid paying huge car loan payments if you know what goes into calculating them. Here's a quick breakdown to keep you in the loop!\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/#primaryimage\",\"url\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Depositphotos_71066005_XL-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Depositphotos_71066005_XL-scaled.jpg\",\"width\":2560,\"height\":2560,\"caption\":\"Car, vehicle, calculation icon vector image. Can also be used for banking, finance, business. Suitable for web apps, mobile apps and print media.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/how-are-car-loan-payments-calculated\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Finance\",\"item\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/finance\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"How Are Car Loan Payments Calculated?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#website\",\"url\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/\",\"name\":\"Way Blog\",\"description\":\"Cars \ud83d\ude97 Simplified\",\"publisher\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#organization\",\"name\":\"Way.com\",\"url\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/cropped-wayCom_RedLogo-1.png\",\"contentUrl\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/cropped-wayCom_RedLogo-1.png\",\"width\":700,\"height\":127,\"caption\":\"Way.com\"},\"image\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#\\\/schema\\\/person\\\/c916386c61281bccf925ffea1c3d35d9\",\"name\":\"Mahesh SL\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g\",\"caption\":\"Mahesh SL\"},\"jobTitle\":\"Senior Software Engineer\",\"url\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/author\\\/mahesh\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How Are Car Loan Payments Calculated?","description":"You can avoid paying huge car loan payments if you know what goes into calculating them. Here's a quick breakdown to keep you in the loop!","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"How Are Car Loan Payments Calculated?","og_description":"You can avoid paying huge car loan payments if you know what goes into calculating them. Here's a quick breakdown to keep you in the loop!","og_url":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/","og_site_name":"Way Blog","article_published_time":"2022-03-25T11:05:55+00:00","article_modified_time":"2022-04-25T07:55:57+00:00","og_image":[{"width":2560,"height":2560,"url":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_71066005_XL-scaled.jpg","type":"image\/jpeg"}],"author":"Mahesh SL","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Mahesh SL","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#article","isPartOf":{"@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/"},"author":{"name":"Mahesh SL","@id":"https:\/\/dev.way.com\/journal\/#\/schema\/person\/c916386c61281bccf925ffea1c3d35d9"},"headline":"How Are Car Loan Payments Calculated?","datePublished":"2022-03-25T11:05:55+00:00","dateModified":"2022-04-25T07:55:57+00:00","mainEntityOfPage":{"@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/"},"wordCount":1115,"commentCount":0,"publisher":{"@id":"https:\/\/dev.way.com\/journal\/#organization"},"image":{"@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#primaryimage"},"thumbnailUrl":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_71066005_XL-scaled.jpg","keywords":["calculating a car payment","how to calculate interest on a car loan formula","car payment calculator formula","how to calculate car loan interest"],"articleSection":["Auto Refinance","Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/","url":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/","name":"How Are Car Loan Payments Calculated?","isPartOf":{"@id":"https:\/\/dev.way.com\/journal\/#website"},"primaryImageOfPage":{"@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#primaryimage"},"image":{"@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#primaryimage"},"thumbnailUrl":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_71066005_XL-scaled.jpg","datePublished":"2022-03-25T11:05:55+00:00","dateModified":"2022-04-25T07:55:57+00:00","description":"You can avoid paying huge car loan payments if you know what goes into calculating them. Here's a quick breakdown to keep you in the loop!","breadcrumb":{"@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#primaryimage","url":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_71066005_XL-scaled.jpg","contentUrl":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_71066005_XL-scaled.jpg","width":2560,"height":2560,"caption":"Car, vehicle, calculation icon vector image. Can also be used for banking, finance, business. Suitable for web apps, mobile apps and print media."},{"@type":"BreadcrumbList","@id":"https:\/\/dev.way.com\/journal\/how-are-car-loan-payments-calculated\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/dev.way.com\/journal\/"},{"@type":"ListItem","position":2,"name":"Finance","item":"https:\/\/dev.way.com\/journal\/finance\/"},{"@type":"ListItem","position":3,"name":"How Are Car Loan Payments Calculated?"}]},{"@type":"WebSite","@id":"https:\/\/dev.way.com\/journal\/#website","url":"https:\/\/dev.way.com\/journal\/","name":"Way Blog","description":"Cars \ud83d\ude97 Simplified","publisher":{"@id":"https:\/\/dev.way.com\/journal\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/dev.way.com\/journal\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/dev.way.com\/journal\/#organization","name":"Way.com","url":"https:\/\/dev.way.com\/journal\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dev.way.com\/journal\/#\/schema\/logo\/image\/","url":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2020\/10\/cropped-wayCom_RedLogo-1.png","contentUrl":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2020\/10\/cropped-wayCom_RedLogo-1.png","width":700,"height":127,"caption":"Way.com"},"image":{"@id":"https:\/\/dev.way.com\/journal\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/dev.way.com\/journal\/#\/schema\/person\/c916386c61281bccf925ffea1c3d35d9","name":"Mahesh SL","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g","caption":"Mahesh SL"},"jobTitle":"Senior Software Engineer","url":"https:\/\/dev.way.com\/journal\/author\/mahesh\/"}]}},"_links":{"self":[{"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/posts\/37860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/comments?post=37860"}],"version-history":[{"count":0,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/posts\/37860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/media\/37909"}],"wp:attachment":[{"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/media?parent=37860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/categories?post=37860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/tags?post=37860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}