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FutureStarrA 57000 Car Loan Calculator
The calculator we built and shared with our friends and family with 57000 Canadian families.
Use this calculator to help you determine your monthly car loan payment or your car purchase price. After you have entered your current information, use the graph options to see how different loan terms or down payments can impact your monthly payment. You can also examine your complete amortization schedule by clicking on the "View Report" button.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. (Source: www.mymechanics.com)
Purchasing a vehicle usually requires a significant financial investment. Even a modestly priced vehicle—let’s say $8,000 to $10,000—is more than most people can afford to pay with cash. Which means most people need to take out an auto loan in order to buy a car. But loans come with monthly (or bi-weekly) payments, and it can be hard to figure out how much you’re likely to pay once you factor in things like the loan term, the interest rate, the payment frequency, and the trade-in value. To be totally honest, it’s pretty confusing. But don’t worry. Our car loan calculator can do all the hard work for you.
Speaking of interest, the interest rate is the second most important number to consider when structuring a car loan. The interest rate (typically a number between 0 and 29.99%) is the percentage of your purchase that is added to the cost of your vehicle annually. So, if you buy a vehicle with 4.99% financing, then you’re paying roughly 5% of your vehicle’s overall price in added interest every year. (Source:www.goauto.ca))