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Reverse Auto Loan Calculator: What Your Payment Buys
The reverse auto loan calculator determines how much loan your monthly payment can finance.
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Dawnielle Robinson-Walker Assistant Assigning Editor | Mortgage lenders and homebuying
Dawnielle Robinson-Walker supported content creation across verticals at NerdWallet as an at large editor before landing on Home mortgages in 2024. She spent over 16 years teaching creative writing and African-American literature, as well as writing and editing for various companies and online publications. Prior to joining NerdWallet, she was an editor at Hallmark Cards and a contributing writer at Forbes Health.
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 Information Solutions for the 2nd quarter of 2024.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Our main auto loan calculator lets you enter information like vehicle price, interest rate, loan term and down payment to see monthly payment amount and total loan cost. It's helpful for running different auto financing scenarios.
Our auto loan refinancing calculator compares your current auto loan with a lower-rate one. You can see how much a lower rate might reduce your monthly car payment.
