Car Loan Calculator

Need a car loan calculator / finance calculator ? Click here for a free online Loan Calculator When it is time to purchase a new car, the next question should be how you are going arrange car finance rather than which car you are going to buy. Often the car loans arrangements are investigated after we have chosen the motor vehicle. A car finance calculator can be helpful in checking your re-payments quote
Arranging car loans is a very important process, as you want to choose a motor car loan most suitable to you. There can be many things to check including:
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Secured Car Finance

When arranging your loan with car loan calculator you can choose secured car finance or a personal unsecured loan. Personal loans normally attracted a much higher interest rate. Secured loans come with cheaper interest rates but will require that you settle the loan if you sell your motor vehicle and normally requires full comprehensive insurance at all times until you repay the loan.

Car Finance Packaging

Their may be extra items you want with your car. Perhaps new alloy wheels or your first years comprehensive car insurance. You can ask to have these considered in your finance application to be included in your car financing package. Some items you may want included with your loan:

Their may be extra items you want with your car. Perhaps new alloy wheels or your first years comprehensive car insurance. You can ask to have these considered in your finance application to be included in your car financing package. Some items you may want included with your loan:

Used Car Finance

Older cars can be ok. It does depend on which lender you used as some penalise the application for older cars. Once the car gets to 7 years or older some lenders will reduce the term or not even accept the goods (for secured car loans). If you are unsure then it does pay to check first or use a good finance broker that is a specialist in vehicle financing.

More on Used Car Finance.

New Car Loans

The cost of new car finance is largely dependent on the interest rate and the amount borrowed. Although this might seem obvious, the fact is that this information can be used by you to determine either your monthly car loan repayments, or the length of time over which you want to take the loan. Both of these will be determined by the amount that you feel you can afford to pay each month.

Car Loan Terms

Normally the maximum term of the loan for car finance is normally five (5) years though a small number of lenders do extend this term to seven years. You may find that if you are looking to finance a older car the lender may approve only on a smaller term. This mainly applies to cars over seven (7) years old. Most finance companies indicate that the car is no older than twelve (12) years at the end of the term. Depending on the strength of your application can vary this decision.

Finance structures can be flexible to suit your circumstance. You can request payments over weekly, fortnightly, or monthly. For some commercial products they allow seasonal, annual and structured payment to suit your business cash flow.

Car Insurance

Secured car finance normally requires comprehensive motor insurance as a requirement of the loan. You can ask to have the first year of insurance included in your finance package. Be aware though that this amount will be paid off over the same term length as the loan and you will have to pay interest on the extra amount you are financing.

Car Finance Packaging

Their may be extra items you want with your car. Perhaps new alloy wheels or your first years comprehensive car insurance. You can ask to have these considered in your finance application to be included in your car financing package. Some items you may want included with your loan:

Other Car Loan Calculator Options

  • Deferred payment structures so you first payment starts at a later date. Standard car loans have the first payment required after a month from settlement .
  • Interest only payment options including balloon payments. Have a amount of money paid all at the end of the loan. Warning though, you will pay more interest. You can refinance the balloon when it comes due, pay it out if you are financial enough or trade and upgrade your car and have the balloon amount taken off the value of the trade in.
  • Structured car loans quote to suit your life style or your work cash flow.

Commercial Car Finance

  • Options are available on commercial car finance that could be suitable for business use. Some loan products that relate to business car finance – Lease , Chattel Mortgage Finance , Business Car Finance | Commercial Car Finance.

    The structure of your business car lease options can affect your taxation claim. If you are unsure which business loan to get then it is recommended to seek professional advice from your accountant first.

Car Loans Interest Rates

  • Where do you get the best car loans interest rates and finance package from ? Direct from a bank, a finance company or using a car finance broker? Going to your bank or back to your finance company may seem the likely choice, it may not always be the best loan.

    Banks and car finance company interest rates can be very different. Often they price their auto finance very differently. Their preference of goods to lend for can change their margin or interest rate. For example some bank car loans price on the strength of the application while others might price on the age of the goods. Be sure to compare your banks and lenders for each loan.

    Alternatively you can use a good car finance broker who deals in motor loans every day and can do the running around for you.

Car Loan Broker

  • Dealing through a reputable car loan broker can give you a choice of loan companies and banks. It is important to know that you may get car finance interest rates and loan fees and charges cheaper than banks.

    A good finance broker can do the hard work comparing the banks and lenders. They can assist to ensure you have a hassle free car purchase. They should also be able to assist with :

    • Encumbrance checks to ensure that there are not any outstanding loans from the prior owner left against the car.
    • Title check or confirming the ownership of the car you are purchasing.
    • Clear transfer to seller of the amount financed on the car purchase.

    Always check the credentials of the car finance broker. How long have they been in operation. Are they well known? They should have many banks and lenders they are accredited through and shouldn’t charge additional fees and save on your finance package.