Powered By: Auto Loan Calculator
This is a Car Loan Payment Calculator so that you can figure what your payment will be before going to a dealership. There are a few things you must first know before calculating your Auto Loan Payment.
It is a little hard to read, but the first line is the amount of the car you are buying. This amount would have to include your sales price, sales tax, any extra fees, and any warranties or insurance products added to your loan. In other words, with this car payment calculator, you have to know the total amount you would be financing.
The second line of the car payment calculator is the Interest Rate you are charged on the car. This is something you may have to guess at or do an application to find out the interest rate. If you have great credit, you can call around to local banks and find the best going rates. If you have not so good credit, enter a higher number here to get an idea. As a guide, there are not many loans over 20%.
The last line on the Auto loan Payment Calculator is the length of the loan in years. How many years do you want to finance the car. If you want to finance for 60 months, enter 5, for 5 years. If you want to finance for 6 years, enter 72.
After these numbers are entered, hit the calculate button at the bottom of the payment calculator to figure how much your car payment will be. This is used for a guide and different finance companies may compound interest differently. Just use this car payment calculator as a guide to get an idea of what price car you can afford.Source URL: http://ashesgarrett.blogspot.com/2009/10/car-loan-payment-calculator.html
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