How an Auto Loan Calculator Can Save You Money at the Dealership

When it comes to buying a car at a dealership, you have everything to gain from getting prepared ahead of the sale.

Being prepared to purchase includes having all the information you need about the car you want to buy and how much car you can comfortably afford. Using online resources, you can figure out what car you want, how much it costs, how much you will have to pay monthly, and how much car loan you qualify for – all before arriving at the car dealership.

It’s not wrong to want a new Tesla Model S for the price of a used Ford Taurus – it’s just not part of an economic reality. Before approaching a dealership, educate yourself a little bit on the current retail prices of cars you like – compare their features too.

A more realistic scenario might be that you add additional features to the car and a variety of warranties. Then, you realize how much the monthly payment will be as a result. With proper expectations and thorough research, you are less likely to be charmed into buying an unaffordable car.

To help you understand what you can afford, try using an auto loan calculator online.

Steps Toward A Car Purchase

1. If you’re unsure of what car to buy, check out PrimeWay’s Auto Center to locate cars of interest with comparable features, and pricing.
2. Open up the car loan calculator and enter in the car’s total purchase price, the loan term in months, and an estimated interest rate. Your monthly payment automatically calculates, giving you an idea of how much you would spend if you bought a car at this price and interest rate at the dealership.
3. Once you’ve done your research, and assessed how much car you can afford, take your research to the car dealership to shop with laser focus.