Auto Loan Payment Calculator with Bi-Weekly Payments

All computations use standard amortization math: periodic rate = APR / periods per year; payment = principal × r / (1 − (1 + r)^(−N)) where N is total number of periods. For the 'half‑monthly' bi‑weekly method we calculate the standard monthly payment then halve it and multiply by 26 to show annual cashflow and an approximate reduction in term based on extra annual principal.

The 'bi‑weekly amortizing' method computes the exact periodic payment for 26 equal periods per year using the same amortization formula but with r = APR/26 and N = term_years × 26 so results reflect a true 26‑period schedule.

Accuracy and reliability: calculations follow standard numeric formulas used in financial engineering and assume fixed rate, fixed payments and no prepayment other than the schedule modeled. Results may differ from lender disclosures due to rounding, day‑count conventions, compounding assumptions, early payment crediting policies, or additional fees.

This advanced calculator offers two bi‑weekly modeling approaches: halving the monthly payment (practical, commonly used) and computing an exact bi‑weekly amortizing payment (26 periods/year). Use the results to compare cashflow and approximate interest savings, then confirm all terms with the lending institution.

If a loan has a $30,000 vehicle price, $3,000 down payment, 5‑year term, and 6% APR: monthly payment computed by the monthly formula; half of that amount paid every two weeks (26 payments) results in one extra monthly payment per year and a shorter payoff period. The exact figures are produced by the two methods in results.

For the same inputs using the 'bi‑weekly amortizing' method, the payment is recomputed for 26 periods/year and total interest is compared with the monthly schedule.