Payment Schedule
See how each payment is divided between principal and interest. Extra monthly principal is shown separately.
| Payment | Scheduled Payment | Principal | Interest | Extra Principal | Balance |
|---|
What Car Buyers Commonly Miss
Look at the out-the-door price
The FTC recommends getting the total vehicle price in writing before discussing financing. Taxes, fees and add-ons can make a deal with an attractive advertised or monthly price cost substantially more overall.
FTC car financing guidanceTrade-in equity can be negative
If the payoff on your current auto loan is greater than the vehicle's trade-in value, rolling that difference into the next loan increases the new amount financed and the interest paid.
CFPB trade-in guidanceAdd-ons are not free
Optional products such as service contracts or GAP-related products can increase both the amount borrowed and the total cost when financed. Enter them separately so their impact is visible.
Longer term, lower payment, higher cost
A longer term can lower the required monthly payment but usually increases total interest and can leave the borrower exposed to negative equity for longer. Compare terms instead of judging a deal only by its monthly payment.