Shopping for a loan? Autoblog's loan calculator can help
Anyone can provide you with an approximate payment on acar or truck loan
. But in seeking larger amounts - like a home mortgage - for a longer period of time, many of those loan providers want you to volunteer more than the amount borrowed and the time you hope to take in repaying it. Instead, they want a lot of personal information, leaving you with the very real impression you're already in the loan application process...when all you wanted was a payment amount.
If that's your personal frustration,Autoblog
shares it. And that's why we've configured our loan calculator to supply the necessary info without having to give a personal deposition. And it's as easy (literally) as 1 – 2 – 3.
Step 1: Enter your loan amount. This is the blank space described as purchase price, but you're simply wanting to know what your loan will cost. If buying a $300K condo with 20% down, simply skip a step and plug in $240K.
Step 2: Enter an interest rate. Obviously, a ½ point here or ¾ point there makes a difference, but if you get close (the current rate is as close as your newspaper's business section) that's probably close enough.
Step 3: Enter the loan term in months. Obviously (or perhaps not-so-obviously) a 15-year commitment is 180 payments. Your iPhone has a calculator.
That's it. Autoblog's calculator is recalculating your payment as you enter in or change the variables – amount of loan, percentage rate and number of payments. And keep in mind...there's more to buying a new or used vehicle than just the loan; there's also registration and license fees, and insurance. And if financed, the bank, credit union or savings and loan will insist on full coverage, including collision.
via Autoblog http://www.autoblog.com
April 11, 2017 at 04:59AM
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