How to Calculate Car Payments Using a Car Payments Calculator

by Contributor

Learn how to calculate car payments using a car payments calculator. Using a car payments calculator to determine your monthly car payments is a great way to plan ahead for your future new or used car purchase.

Calculate your car payments using a car payments calculator online. There are many great online resources that provide a free car payments calculator. One example is at Cars.com, see link below.

Enter the required information in the fields provided. This includes vehicle price, down payment, trade-in value, sales tax, interest rate, and the term of the loan.

After you have entered the information, select update payments. The monthly car payment amount will be displayed just above the update payment button. Try mixing up the variables in step two to see how your monthly car payment amount can vary. Buying a less expensive vehicle and/or increasing the down payment amount are by far the most effective methods of reducing your car payments.

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