CAR LOAN CALCULATORS

online car loan calculator is a topic that comes up often in conversations. Some clients go online and apply for a car loan and realize that their is an online payment calculator ,so they use it just to find out the next one is different. When using an online payment calculator they can vary. A lot will be based on how that calculator is set up. Some of the online calculators will calculate payment based on their fees, warranties, insurance built into the calculated payment. Some will calculate with or without tax, and some will calculate based on a certain low interest rate car loan . It will be important to read any disclaimers or call the actual business to see what is calculated in the payment. Keep in mind that any down payments you are using or any trade ins you are using will need to be accounted for as well. You may also be aware that these calculators are not lease calculators and may not account for any lease fees that are to be paid monthly. Also, some         bad credit car loan payment calculators do not calculate the payment to be APR(annual percentage rate). When your paying a car loan you pay the % rate yearly, and of course you will pay the % rate based on the balance owing each year. As the principal decreases so the does the actual % you are paying on that loan. Hope this helps.

Just my 2 Cents

-M

Mark

Mark

Financetoday.ca