FirstMerit Bank auto calculators are provided to users to help them in determining the most financially-viable and sound decisions that are available to them in regards to securing new or used vehicle financing.

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In order to obtain up-to-date rate information (exact percentages), interested individuals should get in touch with a customer service representative, or apply online for a vehicle loan. (Note: In order to apply for an auto loan, individuals must be older than 18 years old and reside in OH, WI, MI, Western PA or Chicago, IL).

Auto Calculators

How to Calculate

This calculator is used to determine the approximate amount paid (monthly) for a specific loan, based upon the following inputs:

  • Select either monthly payment or purchase price
  • Total cost of purchase (prior to tax)
  • Monthly payment (if applicable)
  • Term length (months)
  • Interest rate

Although this calculator will automatically generate results when a variable is altered, users can also click the ‘Calculate’ button located directly above the calculator to view their results.

Home equity loans often times come with lower interest rates than typical auto loans, as well as other benefits. Use this calculator to determine just how much approximate money a home equity loan may be able to save you versus obtaining an auto loan. Enter the following fields:

  • Total purchasing cost (prior to tax)
  • Term length (months)
  • Interest rate (for auto loan)
  • Interest rate (for home equity)
  • Closing costs (home equity)
  • Tax rate (federal)
  • Tax rate (state)

This calculator will automatically display results as one of the above inputs are altered. Users can also click the ‘Calculate’ button to see their results.

Used to compare between (up to) three different loans. This calculator is useful if trying to determine the best possible loan for your particular financing needs. Alter the following variables within the calculator for each respective loan:

  • Total amount of loan
  • Interest rate
  • Term length (years)
  • Amortization period (years)
  • Origination fee(s)
  • Commitment fee(s)
  • Other applicable fees

Users can click the ‘Calculate’ button located directly above the calculator to view their results, if the calculator does not automatically generate the results.