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About Car Loan Calculator

Car Loan Calculator provide a smart way for consumers to check the affordability of their borrowing. Using the site’s calculator tool, with just a few clicks, users can see how their monthly payments would change with a different down payment or a longer or shorter term. You can even use this data to produce a full amortization report, giving you a detailed breakdown on the full cost of your loan.

As well as helping you crunch numbers with regards to financing, the site also provides in depth advice on the process of buying a car to help ensure the choice you make is a good one, from determining a sensible price range, to ensuring that your credit history is in order. They’ll even talk you through the relative pros and cons of new and used cars, the right way to inspect a vehicle and tricks for negotiating on price.

The site isn’t wholly dedicated to the ins and outs of buying a car, however. For some, leasing will provide a better option than an outright purchase. Using the site’s buying vs leasing calculator you can get help estimating the true cost of leasing a vehicle in comparison with owning one, taking into account all relevant factors, from lost interest to depreciation.

Likewise, you can also use their calculators to help determine whether you would be better off financing a purchase using a home equity loan or a car loan. In some cases, using your house as security as opposed to the vehicle itself can lower your costs. In addition, you can also compare other options such as dealer financing or credit union.

For those who’ve already obtained a loan, there’s a tool to help show much you might be able to save by refinancing. It will show you what impact a lower interest rate will have on your long term costs and how long it will take you to breakeven on the cost of making your switch.

Other tools include the bi-weekly calculator, which will show you just how much interest you can wipe off your loan by opting to go with an accelerated payment plan whereby you pay half of what you’d be expected to pay in a month every fortnight. Over the course of a year this will put you about a month ahead of your schedule and help you to bring down the loan amount. Alternatively, the early pay off calculator provides an easy way to see how much you can bring down the term of a loan agreement by increasing the amount you are willing to pay on a monthly basis.

Whatever the situation you’re in, if you need to make a decision as to how you’ll pay for a vehicle, Car Loan Calculator has an abundance of resources to help you bring some clarity to the issue and make a wise, informed choice. Visit their website today and see how you could be better off.

Last reviewed by UKDirectory on Tuesday, September 24, 2013
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