Reverse Auto Loan Calculator: What Your Payment Buys

The reverse auto loan calculator determines how much loan your monthly payment can finance.
By NerdWallet 
Edited by Dawnielle Robinson-Walker

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If you know how much car payment you can afford each month, a reverse auto loan calculator can tell you how that translates into the total amount you can borrow. But, of course, there are variables: the length of the loan and the interest rate you get.

Say you have decided that you can afford to spend $400 a month on a car. How far that goes depends on your interest rate. At 3.5%, $400 payments buy you a $22,000 loan for 60 months. At 9.5%, you could finance a $19,000 loan. The loan length has an even more dramatic effect; that 9.5% loan stretched out to 84 months would finance $24,500.

Below you can see how your loan amount changes by moving the sliders for payment and loan term. We've provided average rates by credit tier as determined by Experian Automotive.

Get pre-approval for car purchase financing

Looking to finance or purchase a car?

Explore options for car shopping, auto loans, and lease buyout.


Which auto loan calculator should you use?

Use the auto loan payment calculator if you know what you expect to spend.

Use the auto loan amortization calculator to estimate the balance of your simple interest auto loan at any point during its term.

Use the auto loan affordability calculator to determine an affordable car payment for your income and budget.

Use the auto loan refinancing calculator to compare your current loan against a new loan at a lower rate.

» See more of NerdWallet's loan calculators

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