Title Loan Calculator

Using the Title Loan Calculator

The Title Loan Calculator is designed to help you estimate the loan terms for a vehicle title loan based on your input. Follow these steps to make use of this intuitive tool.

Step 1: Enter Vehicle Value

Vehicle Value ($): Start by entering your vehicle’s estimated value. This value must be a number between $1,000 and $100,000. It is a required field.

Step 2: Enter Desired Loan Amount

Loan Amount ($): Specify the amount you wish to borrow. This should be a number between $100 and $50,000. Make sure this amount is within the allowed range, as it is a mandatory field.

Step 3: Choose Loan Term

Loan Term: Select the term for your loan from the available options. You can choose from 1 Month, 3 Months, 6 Months, 12 Months, or 24 Months. This field is required for the calculation to proceed.

Step 4: Specify Monthly Interest Rate

Monthly Interest Rate (%): Input the interest rate as a percentage. The rate must be between 0.1% and 25%. This is an essential field and cannot be left blank.

Step 5: Review the Results

• Loan-to-Value Ratio: This represents the percentage ratio of your loan amount to the vehicle’s value. It’s displayed as a percentage with one decimal place for precision.
• Monthly Payment: This field provides the calculated monthly payment amount. It is formatted in USD currency, precise to two decimal places.
• Total Interest: This gives you the total interest payable over the loan term, also presented in USD currency with two decimal places.
• Total Amount to Repay: This shows the entire amount you need to repay, including both principal and interest, in USD currency formatted to two decimal places.
• Effective Annual Percentage Rate (APR): The APR gives you an annualized interest rate percentage, taking compounding into account, accurate to two decimal places.

By inputting these data points as instructed, the calculator will compute the necessary results to give you a detailed view of your potential loan terms.