Auto Payment Calculator
This auto payment calculator figures monthly payments for the six most popular auto loan terms so you can decide which payment best fits your budget.
Simply enter the amount financed and the interest rate, then click the "Calculate Auto Payment Amounts" button.
Smart Ways To Buying A New Car
Nowadays, having a car is a necessity rather than a luxury. People purchase a new car for different reasons. Some use it for their business, daily commuting, for recreation purposes or just solely for special functions. Whatever is your reason for buying a new car, the most important deciding factor is always the cost. The bottom line is always how much can you afford.
Today, the majority of consumers finance their car purchase. Don’t just rely on the car financing sales agent when you buy. Do your assignment at home and use the auto loan payment calculator to compare costs. You need to carefully plan before you buy. Choosing a new car is also like buying a new home.
Steps To Keep In Mind When Buying a New Car
Before deciding which car to buy, ask yourself
Nail down the right deal.
Listen to the experts.
Do a test drive.
Don’t let the sales agent pressure you.
Cash Vs. Financing
Now that you have decided what car to buy and you’ve got the best deal, what’s next? Are you going to pay cash or apply for financing?
Paying cash in buying your new car is not the most practical thing to do. You do not want to deplete your savings account to buy a new vehicle. But if you do have lots of cash to spend and your credit rating is not good enough to get a car loan, then opt paying cash.
If you choose to buy your car through financing, take into consideration that the sales agent is working on a commission. They will try to upsell you items like warranties, car alarms and other accessories. And it is through these items that the car dealer gets most money on. Don’t be pressured buying these add-ons. Calculate your monthly auto loan payment before choosing the financing company to deal with.
Auto Payment Calculator Terms and Definitions
Related Auto Loan Calculators: