3 questions to answer with an auto loan calculator
As you weigh your financing options on a new vehicle, these three auto loan calculators can help to determine which type of financing and discounts fit your financial lifestyle. While there are many choices to make when shopping for a new car loan, the numbers won’t lie for these three crucial questions.
Should you save now to spend more later?
Many dealers have begun offering the option to put zero money down before you drive off the lot, but keeping your money now will impact how much you pay each month. This auto loan calculator can help you find out how much your down payment affects your monthly payments.
Buy or lease?
The decision to buy or lease a new vehicle depends on a range of factors. From how much you drive each year to how low you hope to make your monthly payments, the answer varies among different types of drivers. Use this car loan vs. leasing calculator to compate the true costs of buying or leasing a new vehicle.
Is the rebate the right reward?
If you are financing your new set of wheels at the dealership, you may need to make a choice: a manufacturers’ rebate or low-interest financing. While the amount of the rebate and the low interest rates are the two crucial pieces of this decision, your state sales tax, your down payment and other additional factors impact your choice. Use a car rebate calculator to determine which option will help you save more.
As you shop for a new car loan, remember that your monthly finance charges are only a portion of your expenses on your new vehicle. From paying for insurance to filling up your gas tank and covering the cost of repairs, consider all of the expenses associated with the make and model you hope to take home.