Michigan First Credit Union provides one auto loan calculator that’s intended for users to quickly estimate the amount paid in interest, projected monthly payment, and the total amount paid for a specific auto loan.
Interested individuals can view Michigan First’s loan rates webpage at this link. Click on the ‘Vehicle’ button to view specific rates for the credit union’s auto loans.
How to Calculate
This calculator provides a quick approximation of how much a loan will cost in its entirety, as well as amount paid per month, and on interest. A screenshot of what this calculator looks like can be seen to the right. The following inputs must be entered into the calculator:
- Amount of auto loan
- Term length (in months)
- Interest rate
Once the above fields have been filled out, users can click the ‘Calculate’ button to generate their results.