What good is a low payment if it takes you 84 months to pay off the loan? Is the selling price for the car a good deal? What about the trade-in amount the dealership is offering for your car? Ask for the "out-the-door" figures from your salesperson and review them before making a decision. When you obtain a monthly payment, be it from a price quote, negotiation or advertised special, make sure you are aware of all the numbers behind it. Furthermore, these figures will differ for those who lease, so take a look at our articles for information specific to that scenario. Washington Honda has a car finance calculator that you can use to estimate the monthly payments and see if you are able to make the payments on time. Keep in mind that everyone's situation will be different, so these recommendations are not set in stone. The loan term should ideally be less than 72 months, and you should aim for a down payment of at least 10% or consider GAP insurance. This tool provides the estimated principal and interest you can expect to pay each month based on what you entered. Your loan payment should be no more than 15% of your take-home pay. Your estimated car payment is only seconds away Just fill in all the fields below to the best of your ability, hit Calculate and our Payment Estimator tool will show you what to expect. The general rule for each of these is as follows: It is also important to be aware of how much the loan will total, how much of a down payment you're making, and how long the loan will be. And though this figure is the easiest to understand, it isn't the only number to be aware of. It can give you a reality check on whether you can afford the vehicle. ![]() The monthly payment is the best indicator of how the car loan will impact your budget.
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