This loan calculator is designed to determine the cost of interest and total payback on any simple loan. The only information needed is the amount to be borrowed, the nominal annual percentage rate (APR), and the payback term in years. It can be used for vehicle loans or other asset based loans as well as unsecured loans such as personal loans.

Please be aware that due to fees, compounding, or other financial criteria, your lending institution may have an "effective APR" that produces payment amounts that differ from the results determined above. Check with your lender.