Calculadora de Pago de Auto — Fórmula
## How Car Payments Are Calculated
Car loans use the same amortization formula as any installment loan.
### Formula
**M = P x [r(1+r)^n] / [(1+r)^n - 1]**
Where P = loan amount, r = monthly rate, n = number of months.
Car loans use the same amortization formula as any installment loan.
### Formula
**M = P x [r(1+r)^n] / [(1+r)^n - 1]**
Where P = loan amount, r = monthly rate, n = number of months.
Ejemplo Resuelto
$35,000 vehicle, $5,000 down, 6.5% APR, 60-month term.
- Loan amount = $35,000 - $5,000 = $30,000
- Monthly rate = 6.5% / 12 = 0.5417%
- Monthly payment = $30,000 x [0.005417 x 1.005417^60] / [1.005417^60 - 1] = $586.68
- Total paid = $586.68 x 60 + $5,000 = $40,200.80
- Total interest = $586.68 x 60 - $30,000 = $5,200.80