Car Title Loan Calculator

Use the Car Title Loan Calculator to estimate 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). Use the calculator to get an estimate of how much a title loan costs.

Knowing the estimated costs, before applying, helps provide the information needed to make a decision about a title loan. The more information the better.

How to use the Car Title Loan Calculator:

The car title loan calculator is very easy to use. There are three simple steps to follow to get a calculation and payment schedule estimate for any loan amount:

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. Then click “Calculate Loan”.

The calculator processes this information and provides you with a summary of costs and an estimated payment schedule.

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:

Then adjust the numbers until you come up with a monthly payment, total amount, and term that meets your needs. Once you have this, simply apply online.

What is the Car Title Loan Calculator?

The 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 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 makes sense for a specific situation.

The car title loan calculators has three main inputs:

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

These three variables are used to generate a monthly payment estimate and amortization schedule for any car title loan. This gives you an idea of how much title loans actually cost.

Your vehicle’s value is important, but a car title loan calculator is not what you use to find your vehicle value. There are companies like Kelley Blue Book, Edmunds, and NADA that specialize in providing vehicle values. Use one of these services to calculate your car’s value.

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.

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.

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:

The Car Title Loan Calculator has Features and Benefits
  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 provide the monthly rate and the APR. It is important to understand the difference between the monthly rate and APR.

What about 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 due at the end of the loan term.

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.

Monthly Payment Title Loan Calculator – Use this when you have a title loan with monthly installments. These loans use an amortization formula to break the loan into equal monthly payments.

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

Calculating Online Title Loans

The car title loan calculator provides full car title loan cost details.

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 calculator to find out how much an online title loan will cost. This includes online title loans with no phone calls and with or without inspection. The process for calculating cost is the same.

Monthly Rates versus Annual Percentage Rates

Perhaps one of the most confusing elements of calculating a title loan, compared to any other loan, is the use of the monthly interest rate instead of the more common APR.

When shopping for a regular car loan, a mortgage, or most other loans, we are used to using the APR to figure out and understand loan costs. Title Loans are a bit unique in that most are communicated using the monthly rate.

What this means is that to understand title loans easier we need to convert the monthly rate to APR. While it may be easy to calculate one month’s worth of interest using the monthly rate, it can be confusing to compare title loans to other forms of credit.

Converting Monthly to APR

How APR is calculated = simple example
Annual Percentage Rate (APR) is different than the Monthly Rate.

To make it easier to compare and shop for title loans we can convert the monthly rate to APR by multiply the rate by 12. There are 12 months in a year so this should make sense.

Once we have the APR it will make it easier to decide if the lender’s rate is too high.

How to Calculate Car Value

Car value is a major factor in the title loan amount. Use a well know car valuation service to calculate an accurate value.

Calculating the value of your car for a title loan is a bit different than the cost. Car values are determined by an appraisal, not a specific calculation.

Edmunds, NADA, Kelley Blue Book, among others, are companies that specialize in providing car values to consumers.

We recommend using one of these valuation tools to get the value of your car. The results are based on real world used car sales prices and more accurate that what a title lender can provide.