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FutureStarrTruck Lease Calculator Canada
Truck leasing, in contrast to owning, offers distinct advantages and features, including the ability to add value to your vehicle with aftermarket equipment, and use it for a variety of purposes year-round. This calculator can help you make an informed decision on how to finance a lease.
Of course, there's a lot to consider when buying. You have to start by thinking about what type is best suited to your specific needs. Are you strictly looking for a utility vehicle, or do you want something that can do double duty as a work truck and a recreational vehicle? Do you need a light pick-up for your weekend DIY projects, or are you in the market for something stylish that can officially replace the family car? Then there's your budget to consider. How much can you truly afford; and should you focus entirely on new models or should you consider the used market? Finally, and perhaps most importantly, how are you going to pay. What financing options are available, and how do you go about finding a loan that won't become a hardship down the road? These are critical questions, and they need to be asked before you ever think about setting foot in a dealer's showroom.There was a time, not so long ago, when all pick-ups were pretty much the same. There might be some subtle cosmetic variations, but by and large a truck was a truck. Those days are long gone. Today, there are as many different makes and models pick-ups as there are cars, and the choices can get a little overwhelming. The first step to buying a new, or used, truck is to find the model that is right for you and your budget. This begins by thinking about how you will use it.
When it comes to choosing the right truck for your needs, there are four basic categories to consider – compact, mid-size, full-size, and heavy duty. Each has its own set of advantages and disadvantages, depending on your needs. Understandably, compact and mid-size trucks are fairly limited when it comes to handling heavy loads, while full-size and heavy duty pick-ups may not be suitable replacements for the family car. Before you go shopping, review the four basic categories and consider how they match up with how you intend to use the vehicle.Mid-size trucks typically offer more interior room for passengers, while sticking with a smaller bed. Over the years, mid-size models have become extremely popular as secondary, or even primary, family vehicles, and manufacturers have concentrated on making them stylish as well as functional, often blurring the line between trucks and SUVs. Like compact models, mid-size pick-ups are limited when it comes to heavy duty tasks, and are primarily designed for everyday use and as recreational vehicles. Typical examples of vehicles in this category include the Dodge Dakota, the Honda Ridgeline and the Chevy Avalanche.Insurance – Insuring a truck is typically more expensive than insuring a passenger car. Trucks, even compact or light duty pick-ups, are considered higher risks than other vehicles. In the case of an accident, their additional weight and power can lead to greater damage and injury, as well as loss of life. This is one of the primary reasons truck insurance is more costly than standard auto insurance. As a general rule of thumb, assume that the larger the truck and the greater its towing capacity the higher your insurance rate. Insurance carriers also consider the intended use of the vehicle. If you are buying for commercial purposes, you should expect to pay a higher insurance premium than if you will be using it as a recreational or passenger vehicle. Insurance rates vary greatly between carriers, so you should check with a variety of companies to find the best deal available. (Source: www.mortgagecalculator.org)
This is one of the easiest parts of the calculator to fill out. If you’ve found a vehicle you’d like to buy on GoAuto.ca, then that page will tell you what the available interest rates are. Simply put in one that seems realistic based on your credit history. If you’re not sure what y our interest rate is likely to be, don’t worry. Just try a few numbers (0%, 5%, 10%) to see how the payment amount changes, just to have an idea before speaking to the dealership. Note: if you’re buying a pre-owned vehicle, the lowest rate you’re likely to get is 4.99%.The best way to lower your vehicle payment is to put money down when you initiate the deal. This is called a down payment. For example, if you’re buying a $20,000 vehicle, your auto loan would be for $20,000, plus whatever the interest is. But with a $4000 down payment, you’ll only have to take out a $16,000 loan, plus interest. The benefit here, aside from a lower sale price, is that you will have lower monthly payments. Try using different down payments in the car loan calculator Canada! It’s interesting to see how much the payments change.However, if you still owe money on the vehicle you’re trading in, then it’s a good idea to use our car financing calculator. This is because you might end up paying more than you expected to. Let’s say your trade-in vehicle is worth $7000, but you still owe $9000 on it (from your previous loan). That means, once you trade in your vehicle, you will still owe another $2000. The dealership will simply take this remaining $2000 and add it to the value of the new vehicle you’re looking to buy. So a $20,000 vehicle suddenly becomes a $22,000 vehicle. As a result, your payments are going to be a little higher than they normally would. (Source:
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.Local Banks – Local banks tend to have fairly conservative lending policies, and it can sometimes be difficult to secure a truck loan from a local bank if your credit history is in any way compromised. However, if you're a long time customer with good credit, your local bank can be a prime source for affordable financing. Most local banks have online calculators where you can research the current lending rates, and find out if you meet the general qualifications to secure funding. You may also be able to apply directly through their online services, though as a general rule of thumb it is always better to handle the application process in person at a local branch office. This gives you the opportunity to fully negotiate your terms, and to ask the loan officer to clarify any parts of the lending agreement that you may find confusing. (Source: www.mortgagecalculator.org)
Your trade-in value is the amount of money the dealership will pay you to buy your current vehicle. Trading in your vehicle is probably the best way to lower the cost of the new vehicle you’re going to buy. If you’re not sure what your trade-in value might be (don’t worry, most people don’t know) then we have a handy tool for you to use. Just visit our Canadian Black Book page and we’ll give you a very reliable estimate of your vehicle’s value (if it’s in decent condition).
If you’ve learned anything today, we hope it’s that it’s important to weigh all factors when buying a vehicle, either new or used. Our car financing calculator will be a great tool to help you plan your next vehicle purchase. (Source: www.goauto.ca)