# car calculator payment

The first step is to enter the details of the proposed car loan in the fields to the left:

• Vehicle Price – The price that you will pay for your vehicle
• Down Payment – The amount of money that you will be putting down yourself on the car
• Trade In – If you will be trading in your current car, put its expected value here
• Owed on Trade – If you will be trading in and owe money on that vehicle, enter the amount here
• Interest Rate – The interest rate that you will pay on the loan
• Sales tax – The amount of sales tax levied in your area, this will be added to the vehicle price
• Term (Months) – The number of months that your loan will run over, typical terms for a car loan are 36, 48 or 60 months
• Start Date – This is the day that you sign your car loan contract, the first payment will come due one month later

Once you enter your details click “Calculate” and your loan information will be generated.

### Understanding the Results

There are four main sections in the results:

#### Loan Summary

This section gives you a brief summary of the proposed auto loan which includes the expected monthly payment, the total cost of the loan, total interest paid over the life of the loan and the date that the loan will be paid off in full. If you are simply trying to determine the monthly payment then this section is all you will need.

#### Cost Breakdown Chart

This pie chart provides a visualization of the total costs showing both the principal and interest paid over the term of your contract.

#### Principal Balances Chart

This chart shows you the balance of your loan at the end of each month over the term. Hovering the mouse over the line will popup a tooltip with the exact balance amount.

#### Amortization Tables

The final section is the amortization tables, there are three tabs here, the first shows your car loan amortized yearly, the second shows the monthly amortization for people who need full details and the third provides some further information breaking down all of the costs individually.

Each row on these amortization tables gives you a snapshot of your loans position at the end of the specified year or month and tells you exactly how much principal and interest you would pay, and the remaining balance at that point in time.

### Final Note

While this auto loan calculator should be highly accurate and give you a solid idea about the costs of a proposed car loan, it is not professional advise and should not be relied upon when making your final purchasing decision. Always talk to a professional directly and fully understand what you are getting into before signing a loan contract.

# car value calculator

• ### Get a FREE actual and accurate value of your car

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# Car Loan Calculator

#### Disclaimer

Whilst every effort has been made in building the car loan calculator tool, we are not to be held liable for any special, incidental, indirect or consequential damages or monetary losses of any kind arising out of or in connection with the use of the calculator tools and information derived from the web site. This tool is here purely as a service to you, please use it at your own risk.

The calculations given by the car loan calculator tool are only a guide. Please speak to an independent financial advisor for professional guidance. Read the full disclaimer.

## Why take out a car loan?

When it comes to financing a new car, there are a number of options available to you – outright purchase, personal loan, leasing, hire purchase or dealer financing. It’s advisable to read up on the pros and cons of each of these before deciding upon the best one for you. Articles such as this one on What Car’s website may help you make the decision. Should you be considering taking out a different type of loan, give our standard loan calculator a try.

## What is the car loan calculator?

This calculator helps you fully work out the costs associated with purchasing a car/auto on credit. Once you have entered the amount, the interest rate and the period of the loan, the calculator will produce some important figures, allowing you to assess the loan.

The first key figure given to you will be the total cost for the car loan, including all of the interest. You will then be presented with the regular payments and the total interest that you stand to pay.

As an additional feature, the car loan calculator breaks down the monthly payments, showing you how much of the monthly payment is for the capital and how much is interest, together with the balance remaining at that point in time.

From all of this information you should be able to gauge whether you think it is worthwhile going ahead with the car loan or not.

## What is a balloon payment?

A balloon payment is a large, lump-sum payment made at the end of a long-term loan. It is commonly used in car finance loans as a way of reducing monthly repayment figures. Be aware that once you reach the end of your loan period, that balloon amount becomes payable. You can learn more about balloon payments in our article, What is a balloon payment?.

## What is the formula for this calculator?

This calculator uses the following formula:

Monthly payment = [rate + rate / ( (1+rate) ^ months -1) ] x principal car loan amount

## Get Car Loans – Car Finance, Vehicle Finance, IMB Australia, car loans calculator.#Car #loans #calculator

Buying a new car is an exciting time, but can also be stressful. You want to make sure you’re getting the best deal on your car and on your car loan. So, whether you’re looking for your first car or you’re upgrading to accommodate the family, it’s important to be prepared before you go shopping!

Research prices before you leave home. You can do this by looking online, talking to dealers over the phone and looking at the car section of your local newspaper. This should give you a basic understanding of the cost of the car you’re looking at so you’ll know what’s a good deal and what’s not.

Be wary of some dealer promotions, for example; ‘free on-road costs’ does not always mean ‘drive-away price’. Dealer delivery charges could still apply.

Never settle for the first price you see – it’s a good idea to get quotes from at least three dealers before signing on the dotted line. You could save a bit of money, but at the very least you’ll know you’re getting a fair deal.

Have a list of non-negotiable criteria including the maximum price you are willing to pay and features that are important to you such as fuel economy, number of airbags, anti-lock brakes, air conditioning and engine immobilisers. This will help focus your search and help you stay on budget.

A thorough test-drive is crucial. Even if the car you want is just an updated version of the one you have, there may be some important changes you don’t know about.

Take at least 20 minutes and drive at least 10km over a variety of roads (e.g. suburban streets, arterial roads and, if possible, a highway). Try parallel parking and a U-turn to test the steering and all-round vision.

#### Products that might be of interest:

Normal IMB lending criteria, terms and conditions, fees and charges apply. Full loan terms and conditions are available upon request from any IMB branch or by calling 133 462, 8:00am to 8:00pm Mon-Fri, or 9:00am to 4:00pm Saturday. This information is provided to assist you in making your purchase. It does not take into account everything you need to consider when purchasing a car and should not be relied upon solely in making your purchase. *This comparison rate is based on a secured loan amount of \$30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

# PCP Calculator: Simplifying PCP Finance and Comparison

The PCP Calculator site provides a suite of Car Finance Guides and Tools to allow you to compare car finance deals and the latest new and used car deals in the market.

If you are new to PCP Finance or Car Finance in general we suggest you start by reviewing our car finance guides which are designed to provide transparency and understanding when buying a new or used car using a car finance package. We review each of the car finance deals and options available so you can make an informed decision when you buy a new or used car.

## Car Finance Tools and Guides

### PCP Calculator

The PCP Calculator allows you to compare the costs of financing your car through a PCP loan and provides transparency of the real costs of PCP loans including monthly payment schedules, costs and depreciation figures so you can make an informed choice when buying a new or used car with PCP finance.

### Car Finance Calculator

The Car Finance Calculator allows you to add and compare car finance details to understand which car finance deal is the right choice for you. Car Finance deals do vary, selecting the right finance for your new car could save you a ‘s

### Logbook Loan Calculator

Logbook Loans can be a very expensive and costly experience. If you can, we suggest you avoid taking out a logbook loan. The Logbook loan calculator allows you to compare finance solutions and the amounts you could pay on differing logbook loan deals and finance packages.

### Car Finance Guides and Tips

There are a myriad of car finance solutions and finance packages that you can access when buying a new or used car. Selecting the right finance package can seem a minefield, particularly with all the acronyms that car finance providers use. In this section, we provide a suite of articles and guides designed to make car finance digestible and buying your next car a more informed and balanced financial decision.

We welcome your feedback and any articles of information that you would like to add to the guides and information to support our wider community.

# car calculator

At Carcraft we aim to make your search for car finance quick and easy, through our partnership with Carfinance247, the Uk’s leading finance broker. Working with the country’s top lenders they will provide suitable and competitively priced car finance, whatever your circumstances and credit history.

There are a wide range of finance options available, so how do you choose the most cost-effective solution for you?

Here we discuss the options …

But firstly, what is car finance?

Car finance is simply that – it gives you the chance to buy the car you want now, rather than having to spend what might be a very long time saving up to buy it.

Although the use of your savings is, of course, one option, there are also a number of alternatives – such as personal contract purchases (PCPs), hire purchase (HP) agreements, guarantor loans and personal loans.

Because of this choice, it’s important that you understand the different options so you can choose the car finance option that is most suitable for you.

What is hire purchase (HP)?

it is one of the most popular forms of finance;

this allows you to buy the vehicle by paying regular, fixed monthly instalments over an agreed period of time – typically up to a maximum of five years;

if your circumstances change and you are able to find the outstanding balance still to pay on the car, you may ask the hire purchase lender for a final settlement figure and the vehicle becomes yours on payment of this;

it is important to remember that you do not actually own the car until the final payment is made, so if you default on the repayments it may be taken back from you – or “repossessed”;

interest rates can be lower than other types of car finance, and might suit those with a less than perfect credit history;

What is a personal contract purchase (PCP)?

this might be seen as one of your more flexible options – giving you the use of the vehicle for a fixed period of time, after which you may simply hand it back or purchase it outright;

with this option, you make regular monthly payments over a period typically extending for 36 or 48 months;

during this time, you are effectively leasing the car, rather than buying it, so the fixed monthly instalments are generally relatively low;

only at the end of the agreed period you make the decision as to whether you want to give back the vehicle or buy it outright – by making what is usually known as a “balloon payment” (a single, one-off, final payment).;

What is a guarantor loan?

if you have a bad credit history and find it particularly difficult to secure finance, you might want to consider a guarantor loan;

this involves you finding someone else – a friend or parent, for instance – to guarantee repayment of the loan in the event that you default on the regular monthly instalments;

as with other types of loans for car purchases, the monthly repayment amount is fixed and spread over a fixed period of time;

provided that you keep up the repayments on this type of loan, you may be able to repair or restore your damaged credit rating;

if you default on those repayments, the guarantor will need to make the outstanding balance;

lenders typically take a greater risk in lending to individuals backed by a guarantor, so the repayments here may be higher than other forms of credit;

What is a personal loan?

banks and other financial institutions offer personal loans that are typically unsecured;

credit history is especially important to those offering unsecured personal loans, so you might find it difficult to raise such finance if your credit record is less than perfect;

as the loan is unsecured, you are free to sell the car at any point, but you must still make the monthly repayments;

If you have set your sights on the purchase of a car, you may have a number of different options for raising the necessary finance – and hopefully the information above can help you to make the right decision.

Remember, that with finance agreements of any form, you are committed to making repayments of the agreed amount over the term of the loan. If you default on those repayments, the vehicle may be repossessed; you might be sued for the recovery of any outstanding debt; and any guarantor you persuaded to back your loan is certainly going to be less than happy with you. Defaulting on any form of borrowing will most likely adversely affect your credit rating and make it considerably harder to get credit in the future.

That is why it is so important to ensure that you get the most appropriate solution for you, one where you can comfortably afford to meet the repayments on your car and at a cost-effective price.