Car Payment Calculator: How to Calculate Monthly Auto Loan Payments
Car Payment Calculator: How to Calculate Monthly Auto Loan Payments Your monthly car payment depends on the loan amount, interest rate, and term length. A $30,000 car with $5,000 down, 6% APR, and a 60-month term has a payment of about $483/month. Changing any variable significantly affects your payment. When I financed my last car — a $28,500 Mazda CX-5 with $6,000 down — I initially accepted the dealer's 7.2% APR offer, which put my payment at $446/month. After getting pre-approved at my credit union for 5.4%, I renegotiated and dropped it to $428/month, saving $1,080 over the 60-month term. Those few hours of rate shopping were the easiest money I have ever saved. Use our Car Payment Calculator(/auto/car-payment-calculator) to see exactly what you'll pay for any vehicle. !Car payment formula breakdown showing $30K loan at 6.5% APR for 60 months with principal vs interest split over 5 years(/images/blog/car-payment-breakdown.svg) How...
Gas Mileage Calculator: How to Calculate MPG and Fuel Economy
Gas Mileage Calculator: How to Calculate MPG and Fuel Economy To calculate MPG (miles per gallon), divide the miles driven by the gallons of gas used. If you drove 300 miles and used 10 gallons, your car gets 30 MPG. Track this over multiple fill-ups for an accurate picture of your true fuel economy. I have been tracking MPG on my 2020 Accord for over 18 months and 22,000 miles now. My EPA-rated 33 MPG combined actually averages 29.4 MPG in real-world driving — 11% below the sticker. Once I started checking tire pressure weekly and easing off the gas pedal, I brought it up to 31.2 MPG, saving roughly $180 a year at current gas prices. Use our Gas Mileage Calculator(/auto/fuel-consumption-calculator) to instantly calculate your MPG and compare it to EPA estimates. !Gas mileage MPG impact factors chart showing speed, tire pressure, AC, weight, idling, and aggressive driving effects(/images/blog/gas-mileage-factors.svg)...