**Introduction:** Managing finances is crucial when planning to purchase a car, and understanding the total cost of a car loan is essential. Our Car Loan Total Cost Calculator simplifies this process, providing quick and accurate results.

**Formula:** The total cost is calculated using the formula for the monthly payment in a loan amortization schedule.

**How to Use:**

- Enter the loan amount.
- Input the annual interest rate.
- Specify the loan term in months.
- Click the “Calculate” button to get the total cost.

**Example:** Suppose you are taking a car loan of $20,000 with an annual interest rate of 5% for a term of 36 months. After clicking “Calculate,” the total cost would be displayed.

**FAQs:**

**Q:**What is the purpose of this calculator?**A:**This calculator helps determine the total cost of a car loan, including interest.**Q:**Can I use this for other types of loans?**A:**While specifically designed for car loans, it can be adapted for similar loans.**Q:**Is the interest rate entered monthly or annually?**A:**Enter the annual interest rate.

**Conclusion:** Understanding the total cost of a car loan is vital for effective financial planning. Use our Car Loan Total Cost Calculator to make informed decisions and ensure a smooth car-buying experience.