Blog

08 Mar

Car Loan Calculator

Information on the location and how to use our car loan calculator.

 

Wondering about the impact of interest rates? Use Car Loans Canada’s car loan calculator to quickly determine your loan payment. It’s easy to use and can be found on our homepage. Here’s some information that might be helpful when using the calculator:

Go ahead, experiment with a variety of scenarios, such as:

  • How much will your loan payments be?
  • Can you pay off your loan faster by changing the size of your payments?
  • What will a change in interest rates do to your payments?
  • View a schedule of your loan payments.

Tip: To complete this calculator, you may need to know some of the following:

  • Amount of loan: The amount you will need to borrow in order to pay for your car (purchase price minus down payment).
  • Term of loan: Loan terms usually range between six months and seven years. You may also want to consider loans with split amortizations like 60/84’s or 72/96’s. Please see a blog I posted a few weeks ago for further clarification.
  • Interest Rate: Check the current rates for car loans to determine what your interest rate might be.