How to Use Auto Loan Calculator

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An auto loan calculator is a tool that you can use to calculate your estimated monthly auto loan payments even before you purchase your auto. It can also enable you to know the number of moths you will finance the auto, the interest rate and the final value of the car at the end of financing. The auto loan payment calculator is easy to use. There are many websites that have auto loan calculators. Follow these steps to use an auto loan calculator

Things You'll Need

  • Internet
  • Go to www.bankrate.com. You can also google 'auto loan calculator' and visit several websites that have auto loan calculator

  • Once you find an auto loan calculator, familiarize yourself with the tool. Type in the loan amount and down payment. Include taxes and other charges. Type in the interest rate and the number of years you would like to finance the car. Do a search and wait for the results.

  • Once you get the results, make sure the estimated monthly premiums are something you can afford. Try using the loan calculator with different loan amounts until you get a monthly premium that you can afford.

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