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The Top 5 Best Car Loan Calculators

Using a car loan calculator is necessary when you are thinking of getting your next vehicle as there is much to keep track of. The best car loan calculators in the world combine all the elements involved in car loans while still allowing you to interject some personal considerations that may not be covered. One of the most difficult things to calculate, and to understand, is the trade-in value of your current vehicle. The rate that cars depreciate can be astounding and have a radical effect on your loan. It is a good idea to investigate the depreciation of the car you are considering seeing if it will hold its value well when it comes time to use it towards the next vehicle down the line. Here is a list of the top 5 best car loan calculators in the world, in ascending order:

#5 - Chase Bank Car Loan Calculators

While almost all banks offer auto financing, Chase Bank makes the list with their online loan calculation tools because they are multi-national and offer some of the best rates around. That said, there is a major downfall of using a car loan calculator from a bank site, the loans described are going to favor the Chase products and not give you as good a representation of what is available to you on the lending market.

#4 – Cars.com Car Loan Calculators

The car.com car loan calculator has a simple interface that allows you to plug in the information and then see the results quickly. It comes preset to the current low interest rate for loans and there are multiple tabs at the top to switch back and forth between various aspects of the loan. This is a good presentation of the process, but it can be confusing in that the information can’t be seen on a single page so you can evaluate it well. Simplicity wins it points, but being so simple as to think the user may not be able to process all the information at once keeps it low on the list of the best.

#3 – Bankrate.com Car Loan Calculators

Bankrate.com offers a calculator that is as easy to use as cars.com, but has a very specific focus that is not offered by many of the other calculators. With this version, you can figure out how making extra payments is going to change the pay off date. This is good information to know, but it doesn’t tell you much about the rest of the schedule of the loan. The calculator is preset with a standard loan amount and interest rate that is easy to change.

#2 - Edmunds Car Loan Calculators

The Edmund’s car loan calculator comes close to being the number one best car loan calculators in the world simply because it is on the Edmunds site. The consumer information on Edmunds is stellar, their calculator is simple but they are very clear to state that this is for a basic loan calculation only. Then they proceed to complicate matters by getting into trade-in values and other things you just don’t need to start with.

#1 - Manwomancar.com Car Loan Calculators

By far the best of the online car loan calculators is the one on manwomancar.com. The interface is super simple, asking for barebones information that as you progress with the calculation then reveals, in stages and on the same page, more information as you go. While other sites provide you with the same calculation, this is the only one that manages the feed of information so you can actually follow how different aspects affect your loan rate – which makes it the winner.
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