| The best way to determine what you next car loan | | | | Three - determine how long you want to finance your |
| will cost you is to go online and find a useful car loan | | | | car loan. The most common term today is 72 months |
| payment calculator. This tool works if you are looking | | | | but many borrowers finance shorter than that. Many |
| to buy a new or used car or if you are trying to | | | | times that will be determined by the lender and will be |
| refinance a car you already have. The tool is quite | | | | determined by the vehicle you are buying or |
| simple but can help you determine what you can | | | | refinancing |
| afford or if refinancing will save you any money. Here | | | | Four - last but not least is the APR or annual |
| are the steps you take in using a car loan payment | | | | percentage rate. If you don't know what that will be, |
| calculator: | | | | you can estimate on what you are expecting from the |
| First - make sure the calculator you choose is one that | | | | lender. |
| will help you. It should have you input three to five items | | | | Once you have input all of this information into the car |
| to get an accurate payment. The first thing it will ask is | | | | loan payment calculator, you can then see your |
| how much are you trying to finance. | | | | estimated payment. These calculators are used for |
| Second - some calculators will ask for the amount of | | | | illustrative purposes only and may not be reflect the |
| down payment you are planning on. If the calculator | | | | exact payment you will have. They will give you a |
| you find does not ask for this, then go to step three. If | | | | very accurate estimation on what to expect. You can |
| it does, enter the amount you are planning to put down. | | | | find a useful calculator here. |
| Remember that a down payment is usually required. | | | | |