0 Percent Interest Car Loan Calculator
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Reviewed by Calculator Editorial Team
Use this 0% interest car loan calculator to determine your monthly payments when financing a car with no interest charges. Simply enter the loan amount and term, then click "Calculate" to see your monthly payment and total repayment amount.
How to Use This Calculator
Using our 0% interest car loan calculator is simple:
- Enter the loan amount you need to finance in dollars.
- Select the loan term in months.
- Click the Calculate button to see your monthly payment and total repayment amount.
- Review the results and use the information to make informed decisions about your car financing.
Note
This calculator assumes a 0% interest rate. If your loan has interest, use our car loan calculator instead.
How a 0% Interest Car Loan Works
A 0% interest car loan means you won't pay any interest on the loan amount. Instead, you'll pay back the principal amount in equal monthly installments over the loan term.
The formula for calculating your monthly payment is:
Formula
Monthly Payment = Loan Amount / Loan Term (in months)
For example, if you finance $20,000 for 48 months (4 years), your monthly payment would be $20,000 / 48 = $416.67.
The total amount you'll repay is equal to the loan amount, since there's no interest to pay.
Example Calculation
Let's say you want to finance a $15,000 car with a 0% interest loan over 36 months (3 years).
- Enter $15,000 as the loan amount.
- Select 36 months as the loan term.
- Click Calculate.
The calculator will show:
- Monthly Payment: $15,000 / 36 = $416.67
- Total Repayment: $15,000 (same as loan amount)
This means you'll pay $416.67 each month for 3 years, with no interest charges.
Frequently Asked Questions
What is a 0% interest car loan?
A 0% interest car loan is a financing option where you don't pay any interest on the loan amount. You only pay back the principal amount in equal monthly installments.
How is the monthly payment calculated?
The monthly payment is calculated by dividing the loan amount by the number of months in the loan term. For example, $20,000 over 48 months equals $416.67 per month.
What happens if I can't make a payment?
If you can't make a payment, contact your lender immediately. They may offer payment arrangements or other solutions to help you avoid late fees or damage to your credit score.
Can I refinance a 0% interest car loan?
Yes, you can refinance a 0% interest car loan, but you'll need to meet the lender's requirements. Refinancing may result in a different interest rate and terms.