This Loan calculator uses similar amortization formulas that are used by the banks, loan and credit-card companies. Fill in the details below to work out your repayments on a loan if you buy a new or used car, or for any personal loan. You can even use it as a mortgage payment calculator (same principles apply).
You will also be informed of how much in total you will be paying back for that loan, in terms of accrued interest. Play about with it and assess its affordability!