A free car loan calculator is provided by many websites offering car loans and car loan refinancing options to promote their online car loans.
However, with a car loan calculator you’ll get a valuable tool. You can apply an auto loan calculator in three very useful ways;
• Determine a car loans total cost
• Determine your estimated monthly car loan payments
• Find the right auto financing alternatives for you.
As I said before, many online car lender websites provide a vehicle loan calculator which you can use for free.
However you should be aware of the fact that the auto loan financing companies provide these calculators On their websites and that the figures displayed on them, as default might not be their loan quotes.
Therefore you should use this calculator as guidance only before you have received any auto loan offers. You need to have some basic information in hand before you begin with the calculations on the online car loan calculator.
Things like term, purchase price, APR, cash down, trade allowance etc.
Term- This stands for the amount of time for which the auto loan exists.
Purchase price- The amount that you pay for the purchase of the automobile, minus the tax and fees that are added.
APR- This stands for the Annual Percentage Rate for the auto loan pretty much like your home equity loan.
Fees- This the amount that is charged for the title transfer and can also include other fees that might be due at the time of delivery.
After you have gathered all the basic information, you can play around with the free car loan calculator And assess different financial results by feeding different sets of data.
You can use the loan calculator to compare the different offers. You can even get a special comparison on car loan calculator. All of the comparison assures you that
• You do not have to pay more than you are able to
• You choose the best loan
• You can negotiate with other lenders when you already are backed with a good loan offer – if that is what you want
You can find many free car loan calculators on the Internet as Excel Spreadsheet Download Areas. Capital One Auto Finance and E-LOAN also offer these calculators online.