Loan Calculator
LATAN is providing you with a Loan Calculator that allows you to estimate your monthly loan payments and determine if they fit your budget. The figures produced here are only estimates. Actual payment figures will be determined at loan closing, if you are approved.
- Enter Loan Amount: enter the loan amount in the designated box. This is the cost of your assistive technology, and should include any applicable sales taxes and fees (Your vendor can provide you with that information.)
- Enter Interest Rate: enter the applicable interest rate in the designated box. For loans under $10,000, the present interest rate is prime rate plus 2%. The interest rate on loans over $10,000 is prime rate plus 1%. For current prime rate click here.
- Enter Length of Loan in Years: enter the repayment length of your loan. If your loan is for a 2009 or 2010 vehicle, the term will be seven years. If the loan is for a 2007 or 2008 vehicle, the term will be six years. Vehicles older than 2006 will carry a five year repayment term.
All other loans will carry a 4 year repayment term. - Click in box the box provided for Total Number of Periods. This will complete the calculations and provide you with an estimated monthly payment on your loan.
