How to Find a Secured Loan Calculator

Introduction
A secured loan is a loan backed by the borrower's collateral; the collateral is forfeited to the lender if the borrower cannot pay the loan. Secured loan calculators help borrowers estimate the monthly cost and interest of a loan so they can decide if they'll be able to make loan payments and what terms will be best for their finances.
Step 1: About Secured Loan Calculators
While all online secured loan calculators are not created equally, you should be able to enter basic information on all of them, such as:
(Photo by Mahalo)The loan amount.
The total amount of money you will borrow.
The repayment period.
Also known as the term of the loan or the life of the loan, this is the number of months or years you have to pay off the loan.
The interest rate.
The exact interest rate on your loan.

Step 2: Check Your Loan Provider's Website
Often your potential lender (the bank or lending institution) will have a secured loan calculator available on their website.
Step 3: Search Online
If your loan provider does not have secured loan calculator, you can do an online search.

Conclusion
Use one of the many online secured loan calculators to estimate your monthly loan payments and determine which loan will offer you the best deal. Unsure how to use a loan calculator?