Compare Car Loans – Use Our Mortgage House Calculator
Before you apply for any loan, it’s best to complete due diligence. If you enter the application process prepared, you understand the possible loan terms a lender will offer. Additionally, you can decide the terms you want too. Here’s how.
An easy way to compare car loans is our online Mortgage House car loan calculator. It’s free and has no strings attached.
Enter the loan period in years, the loan amount, and the interest rate. The combination of these three elements delivers the monthly repayment amount. Our calculator breaks down the repayment into weekly and fortnightly amounts too.
A five-year loan at an interest rate of 4% and amount of $27,000 renders a $500 monthly repayment. With this information, figure out if your financial situation merits a lower interest rate. You may rethink the car too. Maybe you can comfortably afford a $20,000 vehicle instead of $27,000.
By going through this exercise before you’re in front of the car dealer representatives or loan specialists, you gain leverage. A vehicle salesperson might try to upsell you, but you already know that you can’t afford that much car. A lender might try to give you a longer loan at a higher interest rate. You’ll already know that a longer loan leads to more expensive debt.
Compare Car Loans Conclusion
When you’re in the market to procure debt for a purchase, it’s important to complete some comparison shopping. You can compare car loans with our Mortgage House online calculator. For more information about our loan products, contact our loan specialists.