Get savvy on your car loan payments, get yourself a car loan calculator!
Taking out a car loan policy can be confusing stuff. Weekly, fortnightly, monthly payments, interest rates, down payments..it is enough to make you want to catch public transport for the rest of your life! But it does not have to be tough, you can get your head around the numbers with a little help from an online car loan calculator!
Now, I bet you are asking, how does a car loan calculator work? Well, these nifty pieces of technology allow you to work out your weekly, fortnightly or monthly payments and how much interest you could potentially end up paying on your car loan. But first, you need to have some specific bits of information on hand. For the more basic calculators, you have to provide the amount of money you are borrowing, the interest rate charged by your bank or financial institution and the number of weeks or months you have to repay your loan. For more complex calculators, you may also need to enter the vehicle price, the down payment, the trade in value and the sales tax of the car.
There are oodles of car loan calculators available on the web so, to help you narrow down the choice, we've done the research and selected a few online car loan calculators that we reckon do the job well! If you have not decided on the car you wish to buy, and only know the amount you want to borrow, a simple car loan calculator accessible on the Bankrate.com site is the way to go. If you already know how much your new car will cost and you want a more detailed prediction on your can loan repayments visit Cars.com Auto Loan Calculator section.
(photo © Flickr)