This car loan calculator helps you determine which vehicle loan makes the most financial sense by comparing the interest rate and loan term of each financing offer. Interest earned from investing your savings may impact your decision. A shorter loan term on the same vehicle results in higher monthly payments. However, once the term ends, those payments could earn interest and therefore generate savings for you. A longer loan term may keep your monthly payments down, but you forgo possible interest earned on your savings. Keep in mind that the length of the loan term may also affect the interest rate.