When you want to buy a new car, keep in mind that auto financing is just another product that a lender is trying to sell you. You only need two things to get the best deal on your car loan. This is your credit report, which includes your credit score and a payment calculator for your car loan. Both can be found easily online.
Equifax, Experian, and TrueCredit are the three online credit bureaus where you can get a copy of your credit report. Note that there is a minimum charge for each copy, but the information you get more than makes up for it. Once you have your credit report and know where you stand with your credit, you can start looking for a car loan.
Compare the interest rates and monthly payments for car loans from different lenders as you shop. You can use a lot of online tools to help you make your car loan payments. Here are some great websites with online payment calculators for car loans.
CarBuyingTips.com: How to Pay Off a Car Loan
CarBuyingTips.com is a website that helps people who want to buy a car by giving them tips and information. You can find out if you should buy a new or used car and how to get the best deal when buying a new car or trading in a used one at this site. The site also tells you how to avoid making mistakes when you buy a new car. You can use their free calculators and car loan payment tools to make your research easier before you buy a car loan. They have Excel spreadsheets that you can download that help you make an offer to a dealer. These spreadsheets cover budgets, car loan payments, leases, and used car bills of sale.
AutoSite.com - Payment on a Car Loan
AutoSite.com also has a calculator that can help you figure out how much your car loan payment will be. You can compare loans and leases on this site by putting the same information in all of the required fields. Give the negotiated price of the car, the length of the loan, the suggested MSRP, the interest rate, the length of the lease, the money factor, and an estimate of the car's residual value. By clicking the "Calculate" button, you can find out how much your lease and loan payments would be.
AutoWorld.com: How to Pay Off a Car Loan
AutoWorld has a simple calculator that you can use to figure out how much your car loan payments will be. Just put in a few pieces of information, like the number of months, the interest rate, and the amount you want to borrow, and you'll be able to figure out how much your monthly car loan payment would be.
