Car loan monthly payment

Scenario

Car price of $85,000, down payment of $20,000, financed over 48 months at 1.35% monthly.

Inputs

• PV = 65000
• n = 48
• i = 1.35
• FV = 0

Key sequence

1. 165000 PV
2. 248 n
3. 31.35 i
4. 40 FV
5. 5PMT

How to read the result

If PMT jumps with a small rate change, review total effective cost and bundled insurance fees.