Car Loan Calculator and Car Payment Calculator
are financial product that allows you to figure the monthly payments
when you are looking to finance a car or auto. These auto calculators
can be used on both new and used autos when figuring the payments and
the impact of the payments on the amortization schedule.
You can find out what your monthly payment will be if you know the price
of the car, the interest rate payable and the term of the auto loan.
What is good about the auto calculators is that you can play around with
payments, terms and interest rates to see what kind of price, terms
meets your financial needs.
Getting into a new or used automobile with a high interest rate and high
monthly payments is usually not a very good idea. Knowing what you can
afford before you go shopping allows you to negotiate better with the
car dealers and auto sales persons. Telling them you want a certain
price, definite interest rate and a fixed term for repayment and that
you do not want payments over what you can afford, can sure help you out
when keeping within your budget.
Smart car shoppers always have an idea of what they want in a vehicle
and also what type of pricing they want to pay. It may be hard to
believe, but, many car and auto shoppers pay what is on the vehicle
window without negotiating at all. This is a very bad idea. You can
always negotiate 5% to 20% off a vehicle, depending on when and what you
Never just say "OK" and pay what the car dealers want. Always, offer
many thousands of dollars less than what they are advertising. The worst
that could happen is that they take a few thousand off and you save a
ton of money. Then you should also tell them that you will not pay more
than a fixed rate of interest on your loan and the loan should not
exceed a fixed term for repayment.
Understanding that you have power when you go car and auto shopping is
very valuable and since a car purchase is a very major investment for
most house holds, you need to be able to afford what you are going to
buy, before you buy it. Make sure you can afford the payments and still
have money left over each month for savings and the family budget. Never
spend more than what you can afford.
The sleep test is one of the most popular tests for financial
investments. If you can sleep well at night with the vehicle and the
payments, you are doing ok. If you cannot sleep at night because you are
worried about the large payments the new or used car will have on your
budget, start looking for a cheaper car or wait until you can afford to
pay more down on the auto you are buying.
Auto Calculators are a great financial service tool and they are fun to
play with while trying out different prices, interest rates, terms of
repayment and other factors. It is always a good idea to understand that
when buying a car, the sales person will try to sell you a car and no
person is representing you, except you. This means that you can
negotiate a deal and then tell them that you want to think about it over
night or you want to get back with them.
Do not let car and auto sales persons pressure you into buying something
you should not be buying. They will sometimes act like they are your
friend and they are helping you when in fact they are helping themselves
by making a sale and commission. Protect yourself and use a auto
calculator to your advantage. Be smart and save money the old fashion
way, negotiate a better price....