Excel Car Loan Amortization Schedule Template [Free Download]

A car loan amortization schedule is a great tool to visualize one’s car loan repayment process. Through this template, the borrower would be able to insert all his/her required inputs for car loan and get the necessary outputs. S/he can find interest paid amount, principal paid amount, and balance after each payment from the amortization table. So, through this, s/he can easily visualize his loan repayment trend and his/her required regular payments.

Download our free Excel Car Loan Amortization Schedule template to generate your own car loan amortization table and read the article to learn how to use the template.

This template will be greatly helpful to bankers, business owners, job holders, financial planners, and all kinds of lenders and borrowers who are looking forward to taking or giving away a loan.

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Download Excel Template

For: Excel 2007 or later
License: Private Use

⏷What Is Car Loan Amortization Schedule?
⏷Car Loan Amortization Schedule Excel Template
  ⏵How to Use This Template
  ⏵Car Loan Amortization Schedule with Extra Payments (Regular/Irregular) Template
⏷Car Loan Amortization Schedule Excel Template Tips

What Is Car Loan Amortization Schedule?

A car loan amortization schedule is an amortization schedule to visualize the principal paid, interest paid, and remaining balance of someone’s car loan after each payment. This amortization table is specifically designed for car loans by which the borrower can find how much s/he should pay to pay off his/her loan within his/her loan tenure and how his/her loan balance decreases over the loan terms.

Car Loan Amortization Schedule Excel Template

You can generate your own car loan amortization schedule from this template by inserting the necessary input values. You will get your required regular payments to pay off the loan and you will get your principal paid, interest paid, and remaining balance after each payment. Additionally, you will get an output summary focusing on all the important outputs along with a summary chart displaying interest paid, principal paid, and balance trend over the loan tenure.

How to Use This Template

Follow the instructions below to use this template efficiently.

Instructions:

• Insert all the required input values and choose the necessary dropdowns in the blue-shaded area of the Input Values column. The required inputs are:

1. Original Loan Terms (Years)
2. Vehicle Price
3. Down Payment
4. Annual Percentage Rate
5. Loan Date (mm/dd/yyyy)
6. Payment Type
7. Regular Payment Frequency
8. Interest Compounding Frequency

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• You will get your required regular payment amount and the necessary amortization table for your car loan.
• Besides, you will find an output summary containing the following outputs.

1. Interest Rate (Per Period)
2. Total Amount to be Paid
3. Total Interest to be Paid
4. Total No. of Payments
5. Total Time.

• You will also find a summary chart containing the Principal Paid, Interest Paid, and Balance trends of your car loan.

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Read More: Multiple Loan Amortization Schedule Excel Template

Car Loan Amortization Schedule with Extra Payments (Regular/Irregular) Template

This template is quite similar to the previous template. But, in this template, you would get an extra feature, that is, you can add extra irregular/regular payments during your loan repayment process.

Say, a car loan borrower got some extra money during his loan repayment and now he wants to make some extra payments regularly or irregularly to pay off his loan quicker than before. In this car loan amortization schedule with extra payments template, s/he can add his/her regular extra payments in the Extra Amount You Plan to Add and Extra Payment Frequency input fields. To add irregular extra payments, s/he can do this in the Extra Payment (Irregular) column. This will result in paying off the loan quicker and giving lesser interest throughout the loan tenure.

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Read More: Amortization Schedule with Irregular Payments in Excel

Car Loan Amortization Schedule Excel Template Tips

• Insert all the necessary inputs and choose all the necessary dropdowns properly.
• To avoid mistakes, follow the notes given in the loan parameters.
• You have to choose interest compounding frequency as equal to or greater than regular payment frequency. Otherwise, it would result in an error. So, if you choose regular payment as monthly, you have to choose interest compounding frequency as monthly, bi-monthly, semi-annually, or yearly.
• The dark blue line in the chart shows Interest Paid, the ash line shows Principal Paid and the light blue line shows Balance trend over the loan tenure.

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