Car Payment Calculator

Car Payment Calculation Formula

To calculate a monthly car payment you would need the final negotiated price of the car (P), the interest rate of the loan (r), and the length of the loan repayment period (m).

P ( r / 12 )
------------------------- 
(1 - ( 1 + r / 12 ) )-m

If you are looking to include the tax in the payment as well, you will need to add another variable for your local tax (t).

P+t ( r / 12 )
------------------------- 
(1 - ( 1 + r / 12 ) )-m

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