The Car Title Loan Calculator lets you calculate the interest, fees, and payments for any car title loan. FTL Title Loans is a proponent of cost transparency, something that many lenders do not provide. To help title loan customers determine the real costs of a car title loan we developed two car title loan calculators. The first calculates the cost, interest rate, and payment schedule for single payment title loans.
The second car title loan calculator is for loans with monthly payments, also called monthly term loans. The type of title loan depends on the state you live in. Some states have single payment loans, others monthly term loans. It is also possible to get an auto equity loan with monthly payments in a state that has single payment loans.
Car Title Loan Calculator Instructions
First, you will need the interest rate that the title lender charges. This is sometimes difficult to find; not many lenders advertise their interest rates. Next, you will need your loan amount, and any lien fees associated with the loan (if they are to be added to your loan, this is true for most title loans). For single payment loans sometimes lenders charge a fixed fee. Finally you will need 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.
Single Payment Title Loan Calculator
The single payment title loan calculator will show you the cost of a single payment title loan with interest and fees. It is important to note that many states allow you to rollover the loan without paying the principal. These fees can quickly add up. For single payment title loans make sure to repay them in full to avoid excessive costs associated with rolling the loan over.
The above shows your payment and approximate due date for a single payment title loan. For title loans with monthly payments, use the title loan calculator below.
Monthly Term Loan Title Loan Calculator
The car title loan calculator provides the results instantly, showing you your payment schedule for the loan information you entered. Typically when you get a title loan the lender will record their lien on their title. The fee associated with this is usually added to the principal loan amount. While it is usually a small amount; it does have an affect on the total loan payments and estimate. This is one of the typical additional costs for car title loans.