Motorcycle Loan APR Calculator
This calculator estimates periodic payments, total paid and interest for motorcycle loans and compares monthly and bi‑weekly schedules. It supports APR input, down payment, trade‑in value, fees rolled into the loan, and optional extra payments per scheduled period.
Results use standard amortization math and closed‑form payoff estimates when extra payments are applied. Use the comparison view to see how switching to bi‑weekly payments or adding small extras can reduce interest and shorten payoff time.
Compute the periodic payment, total paid and total interest for the chosen payment frequency using standard amortization formulas and the entered APR.
Inputs
Results
Payment per period
-$0.19
Number of payments
130
Total paid
-$25.00
Total interest paid
-$10,025.00
| Output | Value | Unit |
|---|---|---|
| Payment per period | -$0.19 | USD |
| Number of payments | 130 | — |
| Total paid | -$25.00 | USD |
| Total interest paid | -$10,025.00 | USD |
Visualization
Methodology
Periodic payment formulas assume a nominal APR converted to a periodic rate by dividing by payments per year, then apply the standard annuity formula to compute scheduled payment: payment = r*P / (1 - (1+r)^-N) when the rate is positive. For zero interest the payment is principal divided by number of periods.
When extra payments are added, estimated number of payments to payoff is computed from the closed‑form solution of the amortization recurrence: n = ln(payment divided by (payment minus r times principal)) / ln(1 + r), rounded up to whole periods. This provides an estimate; actual day‑count, lender rounding, or payment posting rules may change precise payoff timing.
Further resources
Expert Q&A
Does the calculator compute the lender's disclosed APR?
The tool accepts your APR input and applies it as the nominal annual percentage rate divided into periodic rates. It does not compute a lender‑disclosed APR from cash flows or fees; use the loan documents for the official APR disclosure.
Are bi‑weekly payments always better?
Bi‑weekly schedules generally accelerate payoff because 26 payments per year equals 13 monthly equivalents, but the benefit depends on whether the lender applies interest using the same APR and how payments are posted. This calculator shows estimated savings but cannot guarantee lender posting practices.
How accurate are payoff time and interest savings?
Estimates use closed‑form amortization math and standard assumptions about payment posting. Actual results can differ due to lender rounding, varying compounding conventions, day count differences, missed payments, or add‑ons. See accuracy and standards section for details.
Should I use exact dates for payment schedules?
This tool uses period counts and does not model specific calendar dates, billing cycles, or grace periods. For exact payoff dates consult your lender or request an amortization schedule tied to your first payment date.
Sources & citations
- National Institute of Standards and Technology (NIST) — Numerical Methods and Accuracy — https://www.nist.gov
- International Organization for Standardization (ISO) — Standards Catalogue — https://www.iso.org
- Institute of Electrical and Electronics Engineers (IEEE) — Numerical Analysis Guidance — https://www.ieee.org
- Occupational Safety and Health Administration (OSHA) — Risk Management and Controls (contextual standards) — https://www.osha.gov
- Consumer financial protection resources (conceptual guidance) — https://www.consumerfinance.gov