|If you are looking for a bad credit auto loan, chances are you are wondering what sort of payments you may end up with. This auto loan calculator can give you a rough idea of what your loan payments may run. This is an ESTIMATION ONLY.
Your credit score is not the only thing that affects your final payment. Remember to consider taxes, tag fees and more. You will not get a completely accurate estimate if you are only putting the price of the car in the calculator. There is more information about auto financing here.
Using the Auto Loan Calculator
You should start by filling in the Auto loan amount ($), including taxes and fees.
Fill in your Down Payment($). You may simply put 0 in this field if you do not plan to make a down payment, but this will affect your payment and possibly your ability to qualify for a loan.
Select your credit score in the Your Credit Rating field. As we discussed in previous articles, the credit score is not the only factor in determining your loan terms, but it is important. If you are unsure about your score, just use your best guess.
The Credit Rating you choose will cause the Interest rate (%) field to fill in. Once again, this is an ESTIMATION ONLY. You can change the to Interest Rate field to see how different rates determine your payment.
Choose the number of months for the loan using the Auto loan term (months) selector. Then click Calculate to see your estimated payments.
The Auto Loan Calculator is really useful to try different scenarios to see how much your payment would change based on putting more money down, or going for a shorter loan term. The Recalculate button allows you to try different combinations of down payment, interest rate and loan terms.
Feel free to try different combinations. This tool in no way guarantees an exact loan scenario. However, it is a useful tool to get you in the ballpark on payments and terms.
The best way to get the exact terms is to call Bryce at (912) 279-4222 or get in touch using our contact form. Our experience in helping people with bad credit get a loan is your biggest asset. Give us a call today.