Auto Loan Calculator Template For Excel

Use our Auto Loan Calculator in excel spreadsheet format to calculate your auto loan costs, tax, savings, other fees and charges before making your purchase.

An auto loan is a secure loan, which means that if one defaults on payments, the car itself is used as collateral. One can finance the car payments through the auto loan, entirely on its own, or one can make a down payment and a trade-in to reduce the payments. The size of this reduction is dependent on the negotiations, with the car dealership.

Auto loans are classified as amortizing loans; this means one borrows the principal amount which is the total cost of the vehicle and then pays the creditor back, usually on a monthly basis, payments with interest.

Download Auto Loan Calculator

Auto Loan Calculator

Template Details:

  • License – Private Use
  • File Type – Excel (.xlsx)

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How to Use Auto Loan Calculator?

  1. In the template provided, we have the first sheet, with a yellow tab color that assumes there is no rebate and no trade-in. The values you have to fill in are shaded light blue, all the values that are calculated automatically are shaded light gray. The purpose of the first sheet is to produce the total amount that will need to be financed through the dealership or bank.
  2. The second sheet, with a yellow tab color, has the amortization schedule of the total payments. Again, the values, you have to fill in are in light blue, everything shaded in light gray is calculated automatically and the schedule is delivered automatically, once the light blue cell values are entered. For each period, the interest, the principal, and the remaining balance is given. The end date of the entire loan when the balance should be 0, is calculated automatically.
  3. The third sheet with the yellow tab color, automatically retrieves the total amount needing to be financed, the total number of months of the loan and delivers monthly payments for different common interest rates, for comparison.
  4. The fourth sheet, with the orange tab color, allows one to enter rebates, trade-ins, and down payments. The values you have to fill in are shaded light blue, all the values that are calculated automatically are shaded light gray. The purpose of the fourth sheet is to produce the total amount that will need to be financed through the dealership or bank, taking into account if you have had a rebate granted or made a down payment.
  5. The fifth sheet, with an orange tab color, has the amortization schedule of the total payments. Again the values, you have to fill in are in light blue, everything shaded in light gray is calculated automatically and the schedule is delivered automatically, once the light blue cell values are entered. For each period, the interest, the principal, and the remaining balance are given. The end date of the entire loan when the balance should be 0, is calculated automatically.
  6. The sixth sheet with the orange tab color, automatically retrieves the total amount needing to be financed, the total number of months of the loan and delivers monthly payments for different common interest rates.

Remember when it comes to auto loans:

  • Go to the car dealership with a ballpark figure in mind, and then try to negotiate with the dealership to get as close to that figure as possible.
  • Look for quotes for the auto loan separately, from the quotes for the actual car of interest.
  • Check your credit score and do independent research, on what exactly you qualify for based on your actual credit score.
  • Be sure to look up and ascertain the sales tax rate for your actual state.
  • Look out for good second-hand deals, if buying a brand new car is out of your budget at the moment.
  • Read the fine print and look at the total amount of the loan versus just considering the monthly repayments solely.