Car Loan Comparisons
Use this calculator to compare various auto loan options. You may not have much control over your interest rate but you will have control over the term, or number of months you have your loan. Try entering different terms below and notice how they affect both your monthly payment and your total interest and total payments. A shorter term means you'll make higher monthly payments, but you'll also pay your car off sooner. With a longer term your monthly payments will be lower, but you'll end up paying the bank more in interest. If you're still not sure if you should get a loan for your car, our article on Car Financing may help.
Tweet