Car Title Loan Calculator

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

The Car Title Loan Calculator lets you calculate the interest, fees, and payments for any car title loan amount. This information is critical to being able to decide whether or not a car title loan is both affordable, and makes sense for your situation.

To help title loan customers determine the costs of a car title loan we developed two calculators.

Calculator 1: Monthly Payment Car Title Loans

The first 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.

Calculator 2: 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.

Car Title Loan Calculator Instructions

To use the car title loan calculator, first, 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.

Next, you will need any 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.

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.

Car Title Loan Calculator Input - Results equal monthly payments
The car title loan calculator provides your monthly payment estimate.

Monthly Term Loan Car Title Loan Calculator

The monthly term loan 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.

This calculator is for loans with equal monthly payments. Most online car title loans are structured with monthly payments.

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.

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.

Car Title Loan Calculator Benefits

Using the car title loan calculator helps provide insight into what title loans cost. This will help make an informed decision. All you need to get an accurate single payment title loan estimate is the interest rate.

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)

Most loans 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).

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.

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

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 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.