Free auto loan calculator, estimate monthly payments and interest.

How to use our auto loan calculator:  In the first box, input the length of the loan you desire. For example, a 4 year auto loan would be 48 months. In the second box, input an estimated interest rate. If you suspect you'll be getting an auto loan for bad credit, input 11 for 11%. In the third box, type in the cost of the new car you desire. Then click the Calculate Auto Loan button. Our auto loan calculator will then give you an estimated monthly payment, and the total interest charged for your auto loan.

Not sure if you can afford a new car? Apply for an auto loan through Credit Federal's lender network and get a free interest rate quote. After you receive your interest rate quote, you can use our auto loan calculator to estimate your monthly payments.

Apply for a new or used auto loan, or for an auto refinancing loan.

By applying online for an auto loan, you can avoid hidden fees which dealerships are notorious for tacking onto your loan. Online loans can offer quotes with no hidden charges such as dealer prep, undercoating, pin striping, destination charges, GAP insurance, and sticker price padding.

Apply now for an online auto loan.

Auto loan terminology - Here are some terms you may encounter when seeking your auto loan:

Extended Service Contract: Covers the cost of unexpected auto repairs. Service contracts normally have a per visit deductible and most do not cover normal wear items such as break pads.

Finance Charges: A set percentage charged to the borrower by an auto loan lender. To calculate this subtract the total of payments from the amount borrowed. 

Investment rate of return: Rate of return on investments. This is the return that you would make if you were to invest your down payment or security deposit instead of using it in your auto purchase or lease.

The actual rate of return is largely dependant on the type of investments you select. For example, from January 1970 to February 2003 the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11%. Savings accounts at a bank pay as little as 2% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Lost interest on buy option: This includes any interest you would have earned at your investment rate of return on the buy option's down payment and other fees. If the monthly payment for leasing is less than the monthly payment for buying, this also includes any lost interest due to the higher monthly payments. If leasing is more expensive than buying, your interest costs for buying are reduced by the amount of interest you would earn on the difference.

Lost interest on lease option: This includes any interest you would have earned at your investment rate of return on the lease option's down payment, security deposit and other fees. Please see the definition for "Lost interest on buy option" for an explanation on how we account for any interest you might earn by having a lower monthly lease payment. 

Loan to Value (LTV): The amount financed relative to the published book value of the vehicle. Lower LTV's have a better chance of approval. Lenders usually use Trade of Wholesale Value Book Value when calculating LTV.

No sales tax deduction for trade-in: In some states sales tax is calculated on your full purchase price. Others calculate tax based on the purchase price less trade in. Currently California, the District of Columbia, Hawaii, Maryland, Michigan allow no deductions for trade-ins when calculating sales tax. In addition, Alaska, Delaware, Montana, New Hampshire, and Oregon have no sales tax on new vehicles. 

Negative Trade Equity: The difference between the lien payoff and the value of your trade in. This is a Negative Number 

Principal: The amount borrowed, or the amount on which you pay interest and must pay back, which may increase as a result of capitalization of interest. 

Principal Balance: The portion of the original loan, plus capitalized interest, which the borrower has not yet satisfied through payment or cancellation.

Rate of depreciation: The rate of depreciation gauges how fast your new automobile will lose its market value. A high depreciation rate is about 20% per year, medium is 15% per year and low is 10% per year.

Total purchase price (before tax): This is the total cost of your vehicle purchase. Include the sale price, any additional options and any destination charges. Don't include sales tax in this amount. Sales tax will be calculated for you and included in your total after tax price.

Trade allowance: The total amount that you are given for any automobile that you trade-in as part of the purchase. In some states a trade-in can also reduce the amount of sales tax you will owe. See the definition for "Sales tax deduction for trade-in" for more information on trade-in vehicles and sales tax. 

Trade Equity: The difference between the value of your trade and the lenders lien payoff.

Get the latest auto industry news and locate other auto loan information.

Auto Loan

Online auto loan applications vary, for example, some websites have more lender choices. By having different lenders available for applicants, it helps serve more people who have different credit types. Once an application is submitted, it can be reviewed and placed with a specific lender that deals with a particular buyer. Each partner specializes, so if a person has bad credit or excellent credit, the applicant can be placed with one who may be able to get them approved.

Types borrowers who may need an auto loan:  

*First time buyers.

*Bankruptcy applicants.

*Those with charge off history.

*Self employed people.

*Those who make late payments.

*Bad credit or no credit people.

*People with excellent credit.

*People who had repossessions.

*Applicants on disability or on social security.

People who apply online should make sure to input all information about their credit situation. When the data is reviewed, the person can be placed with the lender who services their particular needs. When auto loan companies have this type of business, they can connect the applicant with the best possible lender on the network. There are many auto dealers and lenders who can help people in their search for a new or used auto loan.

More people are able to get approved for an auto loan, due to the many lenders nation wide. Lenders can search nation wide or local for an auto the applicant may be seeking. It helps even more when the person who applies has figured the dollar amount they can pay each month for the auto. This can help the dealer present autos within a certain price range. This can eliminate getting approved for a loan that may cause a hardship on the family budget later. Even online dealers are able to connect applicants to local car lots or to options for leasing a car or truck.

Consumers do not have to be limited to just their local bank or credit union, as online lenders usually work with other companies. Once a person applies, they wait for a phone call or email. More information could be needed to get the application finished. Then the information will be given to a lending partner. A response can happen is as little as a few hours or even less than a day.

When an applicant has really bad credit and are unable to get the new auto they dream about, there is the choice of a newer used auto. The auto may still be able to be financed for an amount that will fit in the budget, and a payment schedule can be established. Review the terms for any information about not being able to payoff the vehicle early, to reduce interest rate. When credit is bad, getting a loan usually comes with higher rates due to the risk lenders are taking.

Anyone who works needs transportation, so even if terms are not great due to credit problems, paying a note on time each month can help start some good history. This can raise scores over a period of time. 

Examples of paperwork that can help the loan process:

*A driver's license.

*Insurance papers.

*Pay stubs or information to give proof of income.

*Two references, their names, address, and phone numbers.

*Utility bills, lease or mortgage information to prove where you live.

Review Disclaimer: Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
 
FederalAutoLoan.com Review - Copyright 2011, Get Great Auto Loans, LLC. All rights reserved.

Take two minutes to fill out our easy application and you could be driving your new car tomorrow!
100% FINANCING AVAILABLE!*
ZERO MONEY DOWN OPTIONS!*
FAST LOAN APPLICATION DECISION!
BAD CREDIT SCORE...NO PROBLEM!
BANKRUPTCY? WE CAN HELP YOU!
ANY TYPE OF CAR... NEW OR USED!

Can I put zero money down? We have a number of partners and programs that may allow you to put no money down on your car loan. Additionally, even if a down payment is required, you may be able defer part or all of the down payment.

I've had a car repossessed in the past. Does that mean I can't apply for a loan with FederalAutoLoan.com? Not at all! You CAN still apply!! FederalAutoLoan.com and our partners offer special loan programs that could help you even if you have a repossession in your past. It's our goal to help you get a loan even if you have a difficult credit situation!

What if I am going through bankruptcy or have gone through bankruptcy? Even if you're going through bankruptcy or have a bankruptcy in your past, we may be able to help you! We have many lenders and partners in our network that specialize in vehicle loans for people who have gone through bankruptcy or are currently in the middle of a bankruptcy.

Can I get a loan for either a new or used car? Yes you can! Our lenders and partners offer loans for both new and used cars!

Car Loans for First-Time Car Buyers. Has that rusted, torn-up, beater of a car that you drove all through high school and college finally collapsed? Are you in the market for a new car but don’t really know where to start? FederalAutoLoan.com is the place for you! FederalAutoLoan.com helps new car buyers get approved for the auto loans they need every day! With the help of FederalAutoLoan.com, you can get approved for a quality car loan online in minutes!

Used Car Auto Loans. You do not have to be a car expert to know that vehicles are poor investment decisions. The instant you see the dealership sign in your rearview mirror as you are driving away in your new car, that car you just purchased has depreciated approximately 15% of its initial value. It is for this very reason that FederalAutoLoan.com offers you with quality auto loans online for use cars!

It’s Good to Make a Down Payment. The down payment is a concept may people ignore when purchasing a vehicle. This is unfortunate because making a down payment can have a significant impact on your monthly car loan payment. Depending on the length of the loan and the interest paid, making a down payment can literally save you thousands of dollars over the life of the loan. By truly understanding the down payment concept, and keeping the concept in mind, you will be far better equipped to make the best decision for yourself when determining the type of car you can afford.

Cosigners can Help! A cosigner can be a powerful tool for car buyers. If done properly, using a cosigner on an auto loan with bad credit, or no credit, and low income can make having poor or no credit history virtually a non-issue. When you apply for a bad credit auto loan using a cosigner, the dealership or lender will assess the risk factor of your auto loan based on the cosigner’s credit rating and not your own.

Review Disclaimer: Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
 
CarsDirect.com Review - CARSDIRECT IS AN INTERNET BRANDS COMPANY. COPYRIGHT 1999-Present CARSDIRECT.COM, INC.

Used car loans with no money down - The best way to find out if you can get an online loan with no money down is to go to Eloan.com, LendingTree.com, Bankrate.com or another aggregator and enter your information to see what kind of terms and rates you are presented. You will quickly see if your credit history and the car you are purchasing allow you to make a no money down car purchase.

If you have trouble with a general loan, then you can try for a specific automobile and try for a loan through the company offering the vehicle. For example, go to Cars.com, find a specific vehicle, and apply for a no money down loan through the site. Cars.com may refer you to their partner, Up2Drive, but either way, you have a better chance of getting a loan if the company profits both by selling you the car and offering you the financing. 

Your Credit Score - If you have excellent credit then finding a car loan with no money down can be much easier. If you have credit that is good, but not excellent, most lenders will want something down. If you have poor or bad credit, you will likely not find a lender willing to give you a car with nothing down. The down payment serves as a guarantee for the lender. They know that you will likely not default on a car loan that you've already placed an investment into. If your credit is perfect or near perfect, the lender sees that they have less of a chance of you defaulting, and are often willing to waive the initial investment.

Monthly Payments - The down payment is generally applied directly to the price of the car, or the principle of the loan. By having the initial down payment waived, you are financing a portion you wouldn't have normally financed. While this may not raise your overall balance by much, it can increase your monthly payments. You will also end up paying interest in an amount you would not have by making a typical down payment.

Trades - Often times you can use the car you have now as a down payment by trading it in. If you have a car that you have kept in good shape, is mechanically sound and has no major structural damage then you will be able to trade in the car towards the new one. The value they give you for the trade is applied as your down payment. If the car is a newer model with low miles, you may be able to make a deal so you don't have to put any cash down. Most dealers can work with you and find a lender that will take your trade as down payment. If you have a trade that's worth less than 5% of the new vehicle cost, your options will be very limited. Another option to consider is a small amount of cash down in combination with the trade in.

Co-Signers - If your credit is less than perfect, but you still want to try to get an auto loan with no money down, you may want to consider finding a cosigner who is credit worthy. With a cosigner the lender looks at both parties' credit scores, and will hold both parties responsible for the loan repayment. If you default on the loan, the cosigner is on the hook. If you have a cosigner, the lender is more apt to waive the down payment requirements. If you choose to use a cosigner, most lenders want to see someone who's related to you. You also need to remember that late payments or other poor payment methods will report on the cosigner's credit as well, so use caution with this!

Search USED CARS for Sale - Certified Pre-Owned Vehicles: Manufacturer Certified Pre-Owned (CPO) Programs are becoming a popular alternative to buying used cars as car shoppers come to recognize the value and peace of mind that they offer. Certified pre-owned vehicles are sold through the original manufacturer, and usually include extended warranties that go into effect when the original warranty expires.

Toyota Certified Pre-Owned Program - If you would like to get behind the wheel of a reliable vehicle with a proven track record, a Certified Pre Owned vehicle sold by Toyota comes with the uncompromising standards of a brand new Toyota at a substantially discounted price.

Ford Certified Pre-Owned Program - For those who may not be able to afford a new Ford, but want to be behind the wheel of a dependable, enduring vehicle with brand cachet, a CPO sold by Ford comes with the uncompromised standards of a brand new Ford car or truck.

Things You Should Know About CPO - Manufacturer certified pre-owned (CPO) programs are designed to give buyers the chance to purchase a used car with complete confidence by offering a variety of benefits.

Sell Cars - If you are looking to sell a car, there are many ways to go about doing so, as well as some pieces of information you should know before you put your car on the block. With online trading at an all time high, many people use eBay to sell their cars. It is an excellent source to do so since there is a huge market on eBay for cars, and there are thousands of buyers looking for a low cost vehicle. You can either auction off your car, sell it at a fixed price or even offer financing for monthly payments. Ebay offers free vehicle history reports for buyers to look at, which is an extra saving. Another online site for local buyers would be Craigslist, where the listings are free.

Car Refinance - Car refinancing is an option for borrowers that want to change the terms of their loan. In essence, it is a new loan used to pay off the original loan, which you then pay back to the new lender. Whether interest rates in general have dropped, earnings have changed or credit scores have improved, car refinance offers a car owner the opportunity to lower their monthly payments as well as the total cost of the loan over its term. Car refinance can usually be provided through the same institutions that offer loans. Banks and credit unions are very good places to start, but there are many third-party lenders that offer attractive alternatives as well. As with any loan, there are many things to consider when searching for car refinance. Your personal credit history, your earnings, the vehicle’s value as well as current interest rates all come into affect.

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