This year, I had decided to buy a second hand car which must meet my criterion measure. The foremost criteria is the car must be solid and product of well known automobile manufacturer such as Toyota, Honda, etc…
The reason why I want it more solid is to ensure passengers safety if accident occur unexpectedly. At least it can prevent from bad damage compares to my small car that I driving now. Secondly, if the car is a product of well known car manufacturer, that means the car’s spare parts and services will be more easier and cheaper because you can find it at most of the car factories.
To buy a car is not easy job as it involves your money and of course I need to use loan services from the bank. However, how do I calculate the amount that I need to pay every month and how much interest being charged by the bank?
Here I would like to introduce you a car loan payment calculator by autoworld.com. The online car loan payment calculator is very easy to use and within a few clicking, you know the amount that you need to pay monthly and the best thing is you do not need to bother the car loan banking officers to help you calculate the amount of loan to be paid each month.
As you can see from the below image, what you need to do is input the car purchase price, down payment, interest rate (%) and repayment period in months(12, 24, 36, 48, 60,….). After that, just click Calculate button and the monthly installment amount will tell you how much you need to pay each month. It’s accurately showing the figures that need to pay as I had confirmed with local bank officer.
So, do you plan to buy a new car or second hand car like me? if yes, may be you can try this useful car loan payment calculator as your reference and think properly before you decided to get the loan from bank as it might affect your financial status if not plan well.