Car Title Loan Calculator

Use the Car Title Loan Calculator to calculate the costs of your Car Title Loan.

FTL Title Loans developed a car title loan calculator that provides detailed cost related data (instead of vehicle value). We found most car title loan calculators did not calculate title loan costs; instead they provided max loan amounts based on your car.

Most search results for title loan calculator lead to lenders sites that either tell you the value of your car or nothing at all related to title loan costs.

Others provided misleading information about interest rates, inaccurate results, and missing fees.

Car Title Loan Calculator Instructions:

Our car title loan calculator is very simple. There are three simple steps.

Step 1: Enter the amount you plan on borrowing. Make sure that your vehicle value will support this loan amount. Not sure what your car is worth? Read our guide on how to get vehicle value for a car title loan.

Step 2: Enter the lien fees associated with the loan (if they are to be added to your loan, this is true for most title loans). The lien fee varies from state to state. The default is set at $20. Some states charge less, some charge more.

Step 3: Select the length of the loan in months.

The Car Title Loan Calculator processes this information and provides you with both a summary of costs with an estimated payment schedule.

Car Title Loan Calculator with numbers
The car title loan calculator provides full title loan cost details.

Car Title Loan Calculator Input:

Car Title Loan Amount: $
Lien Fee:
Loan Length in Months:
Calculate Loan:
Start Over

Title Loan Calculator Results:

Your Monthly Payment:
Monthly Rate:
Your APR:

Adjust the numbers in the title loan calculator until you come up with a monthly payment, total amount, and term that meets your needs. Once you have this, simply apply online.

Why do I need a Car Title Loan Calculator?

One of the biggest deciding factors when getting a car title loan is the cost. Many title loan companies make it difficult to find out both the cost of the loan and the interest rate.

Additionally, when we looked at some of the other title loan calculators available today we found none that were both thorough and accurate.

FTL Title Loans understands the need to have car title loan cost information before making a decision. We developed our Car Title Loan Calculator to provide every visitor with the ability to calculate costs for car title loans. This lets you calculate the interest, fees, and payments for any car title loan amount.

Having his information is critical to being able to decide whether or not a car title loan is both affordable, and makes sense for your situation.

What is a Car Title Loan Calculator?

A car title loan calculator is a simple program that inputs the title loan amount and length, and then calculates and displays the car title loan cost related information.

The main use for the calculator is to help title loan customers determine the costs of a car title loan. Knowing the cost of the loan helps make a decision about whether or not the loan is affordable.

Car title loan calculators should have three inputs:

  1. Loan Amount
  2. Loan Length
  3. Fee Amounts

These three variables are used to generate an accurate monthly payment estimate and amortization schedule for any car title loan. Your vehicle’s value is important, but a car title loan calculator is not what you use to find your vehicle value.

Car Title Loan Calculator Features and Benefits

Using the car title loan calculator helps provide insight into what title loans cost. This is a significant benefit as it allows you to plan ahead. This will help make an informed decision. Some additional features and benefits include:

  1. Ability to compare different loan amounts
  2. Compare different terms and associated monthly payments
  3. Find the ideal loan amount and term
  4. Estimate repayment time periods

Most title lenders quote their interest rates in monthly terms, so the title loan calculator is set up to input the monthly rate. It is important to understand the difference between the monthly rate and APR.

Monthly Interest Rates versus Annual Percentage Rates (APR)

It is essential to understand the difference between the APR and Monthly Interest rate. Most loans that we are used to use the more common APR to communicate the interest rate to the borrower.

Car Title Loans, however, usually advertise the Monthly interest rate. There are a few reasons for this. When title loans began, most were for a single month, so the monthly rate made sense.

It was easier to calculate the loan using the monthly rate. For example, borrowing $1,000 for 1 month at 10% per month, results in interest of 10% of $1,000; or simply $100. Since then car title loans have increasing moved to monthly term loans, but have primarily kept the monthly interest rate.

The other reason is optics. 25% doesn’t sound like an extraordinarily high rate. 25% APR is much different than 25% per month (300% APR).

Comparing Monthly Rates and APR:

When comparing loans it is important to compare the same interest rate term. For example, you need to compare monthly rate to monthly rate and APR to APR. Luckily, it is very easy to convert monthly to APR and vise versa.

To convert the title loan APR to monthly rate simply divide the rate by 12. For example, 120% APR is 10% Monthly Rate (120 / 12). To convert the monthly rate to APR simply multiply by 12. For example, 15% per month is 180% APR (15 * 12).

Single Payment Car Title Loans

We also have a single payment title loan calculator. It calculates the cost, interest rate, payment amount, and due date for title loans that have one single payment. This is useful for residents of states that require single payment title loans. Many car title pawns are for 30 days with a single payment.

Which Calculator should I use?

As mentioned, the type of car title loan will depend on the state you live in. This map shows where title loans are permitted, and the following pages provide details on the length of loans in each state.

Calculator 1 – Use this when you have a title loan with monthly installments.

Calculator 2 – Use this when you have one single payment due at the end of the loan term (usually 30 days).

Use the Car Title Loan Calculator to find the Best Title Loan Company

An obvious use for the car title loan calculator is to find the best title loan company with the best rates. They should be able to provide a loan amount that meets your needs with a monthly payment you can afford.

Finding an affordable title loan is key to making sure a title loan is a solution that fits your needs. If you are unsure about being able to afford the payments, look for an alternative.

Calculating Online Title Loans

Online Car Title Loan Calculator
Use the Car Title Loan Calculator for Online Title Loans.

The calculator works the same for online title loans as for in person title loans. The process for calculating costs and estimates is the same. Use the car title loan calculator to find out how much an online title loan will cost.

For most online title loans, including instant online title loans, use the monthly term loan calculator. Most online title loans have monthly payments. The title loan calculator will show you your online title loan estimate and payment schedule.