mortgage calculator
Compare Today's Home Equity Rates

Reverse Auto Loan Calculator

Today's Home Equity Rates
Check Today's Mortgage Rates

Reverse Auto Loan Calculator to calculate the maximum car loan you can get based on the monthly payment, interest rate, and loan terms. The reverse car calculator will output a reverse amortization schedule with principal and interest payments.

Reverse Car Loan Calculator

Monthly Payment
$
Interest Rate
Loan Terms
years

The maximum car loan you can get is $28,526.18


Reverse Loan Calculator Results

Car Loan Amount:
$28,526.18
Monthly Payment:
$500.00
Total # Of Payments:
60
Start Date:
Apr, 2024
Payoff Date:
Mar, 2029
Total Interest Paid:
$1,473.82
Total Payment:
$30,000.00

Reverse Car Loan Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Apr, 2024 1 $47.54 $452.46 $500.00 $28,073.72
May, 2024 2 $46.79 $453.21 $500.00 $27,620.51
Jun, 2024 3 $46.03 $453.97 $500.00 $27,166.55
Jul, 2024 4 $45.28 $454.72 $500.00 $26,711.82
Aug, 2024 5 $44.52 $455.48 $500.00 $26,256.34
Sep, 2024 6 $43.76 $456.24 $500.00 $25,800.10
Oct, 2024 7 $43.00 $457.00 $500.00 $25,343.10
Nov, 2024 8 $42.24 $457.76 $500.00 $24,885.34
Dec, 2024 9 $41.48 $458.52 $500.00 $24,426.82
Jan, 2025 10 $40.71 $459.29 $500.00 $23,967.53
Feb, 2025 11 $39.95 $460.05 $500.00 $23,507.47
Mar, 2025 12 $39.18 $460.82 $500.00 $23,046.65
Apr, 2025 13 $38.41 $461.59 $500.00 $22,585.06
May, 2025 14 $37.64 $462.36 $500.00 $22,122.71
Jun, 2025 15 $36.87 $463.13 $500.00 $21,659.58
Jul, 2025 16 $36.10 $463.90 $500.00 $21,195.68
Aug, 2025 17 $35.33 $464.67 $500.00 $20,731.00
Sep, 2025 18 $34.55 $465.45 $500.00 $20,265.55
Oct, 2025 19 $33.78 $466.22 $500.00 $19,799.33
Nov, 2025 20 $33.00 $467.00 $500.00 $19,332.33
Dec, 2025 21 $32.22 $467.78 $500.00 $18,864.55
Jan, 2026 22 $31.44 $468.56 $500.00 $18,395.99
Feb, 2026 23 $30.66 $469.34 $500.00 $17,926.65
Mar, 2026 24 $29.88 $470.12 $500.00 $17,456.53
Apr, 2026 25 $29.09 $470.91 $500.00 $16,985.62
May, 2026 26 $28.31 $471.69 $500.00 $16,513.93
Jun, 2026 27 $27.52 $472.48 $500.00 $16,041.46
Jul, 2026 28 $26.74 $473.26 $500.00 $15,568.19
Aug, 2026 29 $25.95 $474.05 $500.00 $15,094.14
Sep, 2026 30 $25.16 $474.84 $500.00 $14,619.30
Oct, 2026 31 $24.37 $475.63 $500.00 $14,143.66
Nov, 2026 32 $23.57 $476.43 $500.00 $13,667.23
Dec, 2026 33 $22.78 $477.22 $500.00 $13,190.01
Jan, 2027 34 $21.98 $478.02 $500.00 $12,712.00
Feb, 2027 35 $21.19 $478.81 $500.00 $12,233.18
Mar, 2027 36 $20.39 $479.61 $500.00 $11,753.57
Apr, 2027 37 $19.59 $480.41 $500.00 $11,273.16
May, 2027 38 $18.79 $481.21 $500.00 $10,791.95
Jun, 2027 39 $17.99 $482.01 $500.00 $10,309.94
Jul, 2027 40 $17.18 $482.82 $500.00 $9,827.12
Aug, 2027 41 $16.38 $483.62 $500.00 $9,343.50
Sep, 2027 42 $15.57 $484.43 $500.00 $8,859.07
Oct, 2027 43 $14.77 $485.23 $500.00 $8,373.83
Nov, 2027 44 $13.96 $486.04 $500.00 $7,887.79
Dec, 2027 45 $13.15 $486.85 $500.00 $7,400.94
Jan, 2028 46 $12.33 $487.67 $500.00 $6,913.27
Feb, 2028 47 $11.52 $488.48 $500.00 $6,424.79
Mar, 2028 48 $10.71 $489.29 $500.00 $5,935.50
Apr, 2028 49 $9.89 $490.11 $500.00 $5,445.39
May, 2028 50 $9.08 $490.92 $500.00 $4,954.47
Jun, 2028 51 $8.26 $491.74 $500.00 $4,462.73
Jul, 2028 52 $7.44 $492.56 $500.00 $3,970.17
Aug, 2028 53 $6.62 $493.38 $500.00 $3,476.78
Sep, 2028 54 $5.79 $494.21 $500.00 $2,982.58
Oct, 2028 55 $4.97 $495.03 $500.00 $2,487.55
Nov, 2028 56 $4.15 $495.85 $500.00 $1,991.69
Dec, 2028 57 $3.32 $496.68 $500.00 $1,495.01
Jan, 2029 58 $2.49 $497.51 $500.00 $997.51
Feb, 2029 59 $1.66 $498.34 $500.00 $499.17
Mar, 2029 60 $0.83 $499.17 $500.00 $0.00


Monthly Auto Costs

When planning how much monthly payment you can afford for your car, you need to keep in mind there are other costs associated with owning a car such as auto maintenance costs, auto insurance, and gas costs. You want to be sure that you have set aside a portion of your savings for auto costs. If you are buying a used car, the maintenance costs will be higher than a new car. Of course, the monthly payment would be much larger for new cars if you are putting down the same amount as the down payment, which means you would need to save more each month. There are other costs in financing the purchase of a car such as sales tax and other fees. The reverse auto loan calculator will calculate how much of a car you can afford based on the monthly payment that you are willing to make. If you have an old car that you can trade-in, or make a down payment towards the purchase, you can use the car affordability calculator to determine what kind of car you can buy.


How to calculate the reverse car loan?

Let's say if you are willing to make $500 as a monthly payment towards a car with a 5-year term and an interest rate of 3%, then you can afford a car for around $27,826.18. However, if you want to shorten the loan terms to a 3-year term, you will only be able to afford a car for around $17,193.23. Therefore, there are three variables that determine what kind of car you can buy, the monthly payment, the terms, and the interest rate.


How to use the reverse car loan calculator?

Monthly payment - the amount of money that you can afford to pay each month. Interest rate - the interest rate that you will be paying for your car loan. Shop around and compare the dealers and finance options to see what kind of interest rate you can get. Most lenders review your credit scores. If you have a good credit standing, your interest rate will likely be lower than someone with a bad credit score. Loan Terms - How many years that you are planning to pay off the auto loan. Based on these three fields, our reverse auto loan calculator will be able to figure out the maximum loan amount that you can get. The reverse auto loan calculator generates an amortization schedule that shows you your monthly payment and how much you are paying for interest, and how much total interest you will be paying after you pay off the car loan.


Mortgage Calculator | Terms | Privacy | Disclaimer | Contact

©2024 Mortgage Calculator