Car Loan Calculator: Monthly Automobile Repayment Calculator, car mortgage calculator.#Car #mortgage #calculator


Auto Loan Calculator

This calculator computes monthly automotive loan payments.

Current Car Loan Rates

The First Necessary Step in the Car Buying Process

Whether you buy new or used, it’s wise to get pre-approved for a loan before you ever step on a car lot. Go to your bank or credit union and ask the agent if you qualify for a loan and how much. The agent will check your FICO credit score and other obligations and provide you with an amount and interest rate. A FICO score can be between 300 and 850. The higher the score the lower the interest rate you will be offered. People with a bad credit history may pay interest rates that are more than double prime rates. You can also shop for auto loans online if you aren’t concerned about where your personal information goes. Armed with a pre-approved loan you are now in control and have a choice to go with dealer financing or stick with your bank, whichever rate is lower.

How to Get the Best Deal

Got new car fever? Well, first, you need to do a little homework. With the internet, the mystery of the automobile buying process has been unveiled and you can be a well-informed buyer ready to negotiate for the best price. First of all, go to ConsumerReports.org to check out vehicle reliability. You may be eying that shiny red sports car, but if its review states that this manufacturer has a history of poor performance or something like electrical issues, you may want to reconsider.

Test drive the vehicle you have in mind, but renting one from a car rental company for a couple days is the ultimate test.

The Internet has Changed Automotive Shopping

After you have determined the car you want to buy, go to Edmunds.com to find the invoice price. Do not shop without this information in hand. It’s your leverage in the negotiating process. If you don’t have this piece of information, the dealer will work from the MSRP which is a much higher price. Consider MSRP as retail price and invoice price as dealer cost. Never pay higher than invoice price. And don’t worry, the dealer still makes a profit. There is something called holdback which the manufacturer gives the dealer for each vehicle. It’s usually 2-3 % which they receive quarterly. At times the manufacturer also offers dealer incentives for specific models.

You can shop online and get instant automobile quotes at sites like CarsDirect and TrueCar. If you are not comfortable buying online you can always use their quotes to see if the traditional dealer will match the price.

If you have looked ahead and planned your purchase, note that some times of the year are better than others to buy a car. Salesmen work on commission and have monthly, quarterly and yearly goals to meet. So buying at the end of one of these periods can save you money, especially if the salesman hasn’t hit his quota.

If you have made a decision on the exact vehicle you want, visiting the dealership late in the day may work to your advantage because everyone is eager to go home. Aside from the information we provide here, you may want to read some personal stories of sale negotiations to better visualize and prepare yourself:

  • How to Negotiate for a Used Car The Art of Manliness
  • The Four-Square Technique that Dealers Use, and How to Beat It The Consumerist
  • One guy’s trade-in value dispute with a dealership after using TrueCar also from The Consumerist

Understanding 0% Financing vs. Factory Rebate

Many times dealerships will offer a choice of 0% financing or a factory rebate. How do you know which is better? Figure out the interest you would pay for the life of the loan if you financed with your bank. If the interest is more than the rebate, then take the 0% financing. For instance, using our loan calculator, if you buy a $20,000 vehicle at 5% APR for 60 months the monthly payment would be $377.42 and you would pay $2,645.48 in interest. If the rebate is $1,000 it would be to your advantage to take the 0% financing because the $1,000 rebate is less than the $2,645.48 you would save in interest. Be aware though, that unless you have a good credit rating, you may not qualify for the 0% financing and this option may only be offered on selected models. People with poor credit are a major source of profits because they can be charged far higher interest rates. Some buy here, pay here dealerships specifically focus on subprime borrowers.

Some Used Cars Are a Real Bargain

Before you take the plunge of buying a new car, consider a used one. Frugal shoppers know that new cars depreciate as soon as they are driven off the lot, and in fact lose on average 15-25% of its value each year the first five years. Buying one that’s a couple years old can still provide you with a reliable vehicle for thousands less while letting someone else take the depreciation hit. If you trade in every few years then depreciation is something to consider, so look for vehicles that traditionally hold their value such as Honda, Toyota or Lexus. If you keep your automobile until it falls apart, then depreciation is not a concern for you. New models for the upcoming year usually arrive late summer or early fall. Although selection may be limited, this is a great time to consider buying last year’s model because the dealer will need to make room for the new ones.

Check the used car history by the VIN# on sites like Carfax or Autocheck. This will help eliminate anything that looks questionable. Anything that says it’s a salvage should raise a red flag . Salvage vehicles are those in accidents that the insurance company has determined repair costs are more than it is worth. Some shops will try to repair them and sale them at a steep discount. These are given salvage titles. Unless you are mechanically savvy, it’s best to avoid these. On the other hand, something called a program car is usually an exceptional bargain. A program car is a one that was driven on company business by a manufacturer employee. They are driven very little and are well maintained. They usually have 10,000 miles or less on the odometer. Dealers pay low prices for them and are not shy to advertise them. They usually still have factory warranties. Still not convinced to buy used? Then consider insurance costs on a used car will typically be significantly less expensive than on a new one.

There’s More to a Loan than a Monthly Payment

Car mortgage calculatorWhen it comes to borrowing money, a wise shopper looks at the total cost of the loan, and not just at the monthly payment. Too many advertisements state only the monthly payment. You need to dig deeper to see the real story. In general, a lower interest rate will cost you less money. A $20,000 loan at 5% for 60 months (5 years) will cost you a total of $22,645.48, whereas the same loan at 3% will cost you $21,562.43. That’s a savings of $1,083.05.

That same wise shopper will look not only at the interest rate but also the length of the loan. The longer you stretch out the payments, the more expensive the loan will be. Let’s take that same $20,000 loan above at 5% at 5 years and see how much we can save by paying it off in 3 years. So, $20,000 at 5% for 36 months will cost $21,579.05 saving you $1,066.43. Using the calculator above (assuming $0 down payment, $0 trade-in and 1% sales tax) you will see that the monthly payment for the 5 year loan is $377.42 and the monthly payment for the 3 year loan is $599.42. If you can easily handle the higher payment the savings are well worth it.

If your credit drastically improves your initial loan was at a higher interest rate, it may be worth looking into refinancing at a lower rate.

What To Do with Your Trade-In

Although it’s convenient to trade in your old vehicle to the dealer at the time of purchasing another, it’s not to your best advantage. You are likely to get the least value from the dealer, as they have to move it yet again and need to ensure a safe profit margin on selling it. They do not have to take your old automobile, and will offer you what will make them the highest profit. Some dealerships may offer artificially high trade in values, but only offer them in association with a higher price on the vehicle they sell you.

The better option is to sell it privately. It seems even government agencies are freely giving out this advice; from the Arizona Attorney General to the FTC. Don’t underestimate the value of your old car. Go to Kelly Blue Book online to do your valuation research. If you can sell it, even for a small amount, it’s extra bargaining power for your new vehicle.

Another option with your old automobile is to keep it. An old pick up truck used for heavy work can help protect the value of a new vehicle by minimizing wear and tear, along with depreciation. Automotive insurance companies typically offer multiple vehicle discounts.


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Low Interest Rate Loan Offers in India:

The dictionary defines a loan as thus, ‘a thing that is borrowed, especially a sum of money that is expected to be paid back with interest’ and rightfully so, our entire civilization is built on the concepts of loaning and paying back. In modern day India, the middle class has emerged as an average marketer’s dream target, the playground for companies that deal in consumer products and consequently, the numero uno customer for the massively available loans. From homes to education, vehicles to vacations, if there is an expenditure angle involved, then there is a loan for it.

In terms of sheer volume and popularity, the banks have segregated the concept of loaning into various types. There is the personal loan. and as its name so aptly suggests, is an influx of monies that the receiver can use for whatever personal requirement or monetary contingency that he/she might have. Not surprisingly, a home loan and car loan is intended for the purchase of a home and a car respectively, while an education loan helps the borrower cope with the high prices for a competent education these days. In India, almost all private and public sector banks count the aforementioned loan products as hot commodity in their respective portfolios and competition is ripe to attract a prospective customer’s undivided attention. From varying interest rates to relaxed loan tenures, poaching strategies like the concept of home loan transfer- the shifting of home loan from one lender to another who offers a lower interest rate, to heavy discounts and offers, the string of available loan options are many.

How can anybody discriminate between these available choices? Explore, Bankbazaar.com.

Why Apply for a Loan at BankBazaar.com?

The urbane loan comparison website, BankBazaar, helps you sort through a plethora of probable loan options, through a simple and eye-pleasing interface, that is focussed on bringing both the pros and cons of the associated loan plan, on the proverbial table for your inspection. Why apply for a loan with BankBazaar? The following reasons form the crux of our offering to you-

  1. One Stop Shop for Multiple Products: Looking for a personal, home or car loan? Bankbazaar offers multiple competent choices in each case, based on your specific requirements.
  2. Lowest Interest Rates: Our association with market leaders like HDFC Bank, Axis Bank and ICICI Bank help us score the lowest interest rates on personal, car or home loans for you.
  3. Get Instant Quotes: Filling up a simple online form helps us evaluate the perfect loan options for you. Rather than spending a substantial amount of time in finding the right cut, relax, have some coffee.
  4. Simple Online Comparison: Various parameters are in play when loans are compared against each other for your specific suitability- rate of 4. interest, EMI, processing fees, customer feedback etc. With BankBazaar, never end up with an option that hasn’t been properly and profusely vetted.
  5. Transparent Workings: BankBazaar isn’t a mediator, a promoter or in cahoots with any bank. Our assessment of the available loan options for you is always impartial and objective, such that you have every last shred of information to make that informed decision.
  6. Privacy: We treat your personal information with the highest of regards. The information you provide is only shared with your chosen lender, and never shared with a third party for any reason whatsoever.
  7. Trust: Top banks in India like HDFC, ICICI and Axis Bank swear by the Bankbazaar name. Our reliable online technology has been powerfully adopted by these lenders to provide their customers the best loan experience on their own websites.

How to get a Loan in India through BankBazaar.com?

Applying for a loan on Bankbazaar be it a personal loan, car or home loan, is a simple and intuitive process. The following lists the various steps involved-

Step 1- On Bankbazaar.com’s homepage, access the navigational menu that is located at the top of the page and select the LOANS menu item. Next, select from the various loan options on offer. The choices include Personal Loan, Home Loan, Car Loan, Used Car Loan and Education Loan. Choose the option that is relevant to you by hovering your cursor over it. Spread before you are some popular loaning banks (with regards to the loan option selected) and the friendly ‘Get Quote ’ and ‘Explore ’ buttons. Clicking on either of these will open up a neat interface with a bunch of simple questions. Simply provide the requisite information and follow the simple wizard by responding to the various prompts. Next, spread before you are the various applicable loan options. It’s time to choose!

Alternatively, choosing the lender directly from this menu will allow you to properly check the features and benefits associated with this lender. The ‘Apply Now ’ option takes this step further.

Step 2- You must compare between the various loan options before you and select the one that most appeals to your requirements and budget.

Step 3- After the submission of the online application, you will receive an instant e-approval from BankBazaar. This application is next transferred to your chosen bank from wherein a customer support executive will get in touch with you within a short duration of time. Meanwhile, you can track your application through SMS alerts and email.

Simple? Actually, it’s the coming together of various factors that help compare the different loan options available to you. Subscribing to BankBazaar helps save your time, money and efforts, while assuring you the best loan options that specifically address your exclusive requirements.

Subscribe to our newsletter


Personal Loans, Bad Credit Loans and Car Title Loans #home #loan #help


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Loans Canada – Affordable Installment Loans

Your One-Stop Shop for Everything Finance

We believe that credit-constrained Canadians should have more options than just the banks and other traditional institutions. That s why we ve partnered with a wide array of lenders and financial services providers across the country to provide you with access to more options, more services and more savings.

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Loans Canada helped me get the money I needed when no one else would even listen to my story. Their customer service representative treated me like an actual person and made sure I understood every step of the process. I was able to get my loan and deal with financial issues before the end of the week, I couldn t be happier.

I went online found Loans Canada and within a day or two I had been approved for a loan. The best part of the whole experience was that I didn t even need to leave my house. The convenience of working with an online loan company surprised me, I never thought the process would be that quick.

I felt like my credit score was haunting me. I found loanscanada.ca online and I called them right away, spoke to one of their agents and they actually took the time to listen to me. They found a lender who got me a loan without even checking my credit.

Recent Articles

Simply put, instant loan approval is not possible and in fact, we can’t emphasize enough that if a lender of any kind offers you a loan right away, or guarantees your approval for a loan, they are more than likely

Credit reporting agencies, we know who they are (in Canada there are two, Equifax and TransUnion) and we know that they’re the keepers of our ever important credit information. But, more often than not, our knowledge of

You can divorce your partner, but unfortunately, you can’t divorce your mortgage. And just like your partner, your mortgage will take what is rightfully theirs. One of the most stressful issues, when going through a


Current Interest Rates on Home Loans, Savings, Car loans – CD Rates #mortgage #caluculator


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Today’s Interest Rates and Financial Advice:

Financial Advice

  • 7 ways to measure your financial success

Just as blood pressure and cholesterol are valuable measures of your physical well-being, we’ve come up with the critical numbers you need to track the state of your financial health.

September 17th 2016

  • What kind of return can we expect from a 401(k)?

    Something like 5% or 6% a year is reasonable, and long-term returns from 10 big mutual funds often found in 401(k) retirement plans show you could make even more than that.

    September 16th 2016

    • Is now the right time to refinance?

    For most homeowners, the answer is “yes.” By any historical measure, home loans remain incredibly cheap, and it’s possible to land a new, cheaper mortgage even if you have below-average credit and little equity in your home.

    September 16th 2016

  • Selling a car: How to limit your risk

    Selling a car on your own almost always means getting more money for it than if you had traded it in. Use these tips to limit your risk during the sale.

    September 15th 2016

  • 7 big questions your Closing Disclosure can answer

    Borrowers applying for a mortgage after Oct. 3, 2015, get a five-page form designed to make home loans easier to understand before the deal is finalized.

    September 15th 2016

  • Turn your investments over to a robo-adviser

    Websites using the same algorithm-based asset management strategies employed by human financial advisers are the hot new thing in investing. They provide a wide range of automated services at a fraction of the cost.

    September 14th 2016


  • Car Insurance #mortgage #house


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    Car Insurance

    Comprehensive

    NRMA Comprehensive Car Insurance covers your car for accidental damage, collision or crash, severe weather, theft, vandalism or malicious acts. Plus we cover the extras on your car like alloy wheels, sunroofs and custom sound systems.

    Comprehensive Plus

    Receive the protection of NRMA Comprehensive Car Insurance, with extra services such as unlimited hire car if your car’s damaged or stolen, until it’s repaired or your claim’s settled and excess-free windscreen protection.

    Third Party Property Damage

    Third Party Property Damage offers a basic level of protection covering you for damage you cause to someone else’s car or property. It also covers damage to your car caused by an at fault driver for up to $5,000.

    Third Party Fire Theft

    Cover for damage you cause to someone else’s car or property up to $20 million, with additional fire and theft protection for your own car up to a market value of $10,000.

    Veteran, Vintage Classic Vehicle

    Tailored car insurance for vehicles older than 15 years and used for hobby or recreational purposes. *

    * Subject to acceptability criteria.

    NRMA Car Insurance Products

    Comprehensive Car Insurance

    NRMA Comprehensive Car Insurance covers your car for accidental damage, collision or crash, severe weather, theft, vandalism or malicious acts. Plus we cover the extras on your car like alloy wheels, sunroofs and custom sound systems.

    Comprehensive Plus Car Insurance

    NRMA Comprehensive Plus Car Insurance is our highest level of cover and gives you all the protection of our Comprehensive Car Insurance product with additional benefits such as excess-free windscreen, sunroof and glass cover. What’s more, with NRMA Comprehensive Plus, you’re never without a car. That’s because we offer you the convenience of car hire up to $95 per day until your vehicle is repaired after an incident or your claim is settled.

    Third Party Property Damage Car Insurance

    At NRMA Insurance, we offer two levels of Third Party Car Insurance: Third Party Property Damage offers a basic level of protection covering you for damage you cause to someone else’s car or property. It also covers damage to your car caused by an at fault driver for up to $5,000. Third Party Fire Theft Car Insurance offers all the protection of Third Party Property Damage as well as additional fire and theft protection for your own car up to $10,000

    Third Party Fire Theft Car Insurance

    As with our Third Party Property Damage cover, NRMA Insurance Third Party Fire and Theft Car Insurance covers you for damage you cause to someone else’s car or property up to $20 million.

    However, with additional fire and theft protection for your own car up to a market value of $10,000, NRMA Insurance Third Party Fire and Theft is designed to give you extra peace of mind.

    Veteran, Vintage or Classic Car Insurance

    We will cover your veteran, vintage or classic vehicle for loss or damage if an incident we cover happens during the car insurance policy period. We will also cover you for Liability up to $20 million. Whether your pride and joy is a veteran (pre-1919), vintage (made between 1919 and 1930) or classic (15 years or older) vehicle, we can provide cover for its agreed value against accidental damage, theft, fire, storm, flood and more.

    Why choose NRMA Car Insurance?

    • Automatic cover for modifications, options and accessories
    • Flexible excess levels to help reduce your car insurance premium
    • With the Loyalty Discount, the more eligible policies you have and the longer you stay with us, the more you can save.
    • Experience – we’ve been insuring Australians for over 85 years
    • We cover anyone who drives your car ***
    • Lifetime guarantee on repairs we authorise
    • 24/7 Helpline assistance
    • No Claim Bonus – receive up to 65% No Claim Bonus if you have a good claims history

    *** Additional excess applies to drivers under 25 or with less than 2 years’ driving experience. Cover is subject to standard underwriting guidelines and policy terms. Cover applies to Motor Insurance policies, excludes CTP, commercial policies and specialty products.


    Car Insurance #rural #development #mortgage


    #property insurance calculator

    #

    Car Insurance

    Comprehensive

    NRMA Comprehensive Car Insurance covers your car for accidental damage, collision or crash, severe weather, theft, vandalism or malicious acts. Plus we cover the extras on your car like alloy wheels, sunroofs and custom sound systems.

    Comprehensive Plus

    Receive the protection of NRMA Comprehensive Car Insurance, with extra services such as unlimited hire car if your car’s damaged or stolen, until it’s repaired or your claim’s settled and excess-free windscreen protection.

    Third Party Property Damage

    Third Party Property Damage offers a basic level of protection covering you for damage you cause to someone else’s car or property. It also covers damage to your car caused by an at fault driver for up to $5,000.

    Third Party Fire Theft

    Cover for damage you cause to someone else’s car or property up to $20 million, with additional fire and theft protection for your own car up to a market value of $10,000.

    Veteran, Vintage Classic Vehicle

    Tailored car insurance for vehicles older than 15 years and used for hobby or recreational purposes. *

    * Subject to acceptability criteria.

    NRMA Car Insurance Products

    Comprehensive Car Insurance

    NRMA Comprehensive Car Insurance covers your car for accidental damage, collision or crash, severe weather, theft, vandalism or malicious acts. Plus we cover the extras on your car like alloy wheels, sunroofs and custom sound systems.

    Comprehensive Plus Car Insurance

    NRMA Comprehensive Plus Car Insurance is our highest level of cover and gives you all the protection of our Comprehensive Car Insurance product with additional benefits such as excess-free windscreen, sunroof and glass cover. What’s more, with NRMA Comprehensive Plus, you’re never without a car. That’s because we offer you the convenience of car hire up to $95 per day until your vehicle is repaired after an incident or your claim is settled.

    Third Party Property Damage Car Insurance

    At NRMA Insurance, we offer two levels of Third Party Car Insurance: Third Party Property Damage offers a basic level of protection covering you for damage you cause to someone else’s car or property. It also covers damage to your car caused by an at fault driver for up to $5,000. Third Party Fire Theft Car Insurance offers all the protection of Third Party Property Damage as well as additional fire and theft protection for your own car up to $10,000

    Third Party Fire Theft Car Insurance

    As with our Third Party Property Damage cover, NRMA Insurance Third Party Fire and Theft Car Insurance covers you for damage you cause to someone else’s car or property up to $20 million.

    However, with additional fire and theft protection for your own car up to a market value of $10,000, NRMA Insurance Third Party Fire and Theft is designed to give you extra peace of mind.

    Veteran, Vintage or Classic Car Insurance

    We will cover your veteran, vintage or classic vehicle for loss or damage if an incident we cover happens during the car insurance policy period. We will also cover you for Liability up to $20 million. Whether your pride and joy is a veteran (pre-1919), vintage (made between 1919 and 1930) or classic (15 years or older) vehicle, we can provide cover for its agreed value against accidental damage, theft, fire, storm, flood and more.

    Why choose NRMA Car Insurance?

    • Automatic cover for modifications, options and accessories
    • Flexible excess levels to help reduce your car insurance premium
    • With the Loyalty Discount, the more eligible policies you have and the longer you stay with us, the more you can save.
    • Experience – we’ve been insuring Australians for over 85 years
    • We cover anyone who drives your car ***
    • Lifetime guarantee on repairs we authorise
    • 24/7 Helpline assistance
    • No Claim Bonus – receive up to 65% No Claim Bonus if you have a good claims history

    *** Additional excess applies to drivers under 25 or with less than 2 years’ driving experience. Cover is subject to standard underwriting guidelines and policy terms. Cover applies to Motor Insurance policies, excludes CTP, commercial policies and specialty products.


    Loans – Apply for personal loan, home loan, car loan at #nfcu #mortgage #rates


    #house loan

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    Low Interest Rate Loan Offers in India:

    The dictionary defines a loan as thus, ‘a thing that is borrowed, especially a sum of money that is expected to be paid back with interest’ and rightfully so, our entire civilization is built on the concepts of loaning and paying back. In modern day India, the middle class has emerged as an average marketer’s dream target, the playground for companies that deal in consumer products and consequently, the numero uno customer for the massively available loans. From homes to education, vehicles to vacations, if there is an expenditure angle involved, then there is a loan for it.

    In terms of sheer volume and popularity, the banks have segregated the concept of loaning into various types. There is the personal loan. and as its name so aptly suggests, is an influx of monies that the receiver can use for whatever personal requirement or monetary contingency that he/she might have. Not surprisingly, a home loan and car loan is intended for the purchase of a home and a car respectively, while an education loan helps the borrower cope with the high prices for a competent education these days. In India, almost all private and public sector banks count the aforementioned loan products as hot commodity in their respective portfolios and competition is ripe to attract a prospective customer’s undivided attention. From varying interest rates to relaxed loan tenures, poaching strategies like the concept of home loan transfer- the shifting of home loan from one lender to another who offers a lower interest rate, to heavy discounts and offers, the string of available loan options are many.

    How can anybody discriminate between these available choices? Explore, Bankbazaar.com.

    Why Apply for a Loan at BankBazaar.com?

    The urbane loan comparison website, BankBazaar, helps you sort through a plethora of probable loan options, through a simple and eye-pleasing interface, that is focussed on bringing both the pros and cons of the associated loan plan, on the proverbial table for your inspection. Why apply for a loan with BankBazaar? The following reasons form the crux of our offering to you-

    1. One Stop Shop for Multiple Products: Looking for a personal, home or car loan? Bankbazaar offers multiple competent choices in each case, based on your specific requirements.
    2. Lowest Interest Rates: Our association with market leaders like HDFC Bank, Axis Bank and ICICI Bank help us score the lowest interest rates on personal, car or home loans for you.
    3. Get Instant Quotes: Filling up a simple online form helps us evaluate the perfect loan options for you. Rather than spending a substantial amount of time in finding the right cut, relax, have some coffee.
    4. Simple Online Comparison: Various parameters are in play when loans are compared against each other for your specific suitability- rate of 4. interest, EMI, processing fees, customer feedback etc. With BankBazaar, never end up with an option that hasn’t been properly and profusely vetted.
    5. Transparent Workings: BankBazaar isn’t a mediator, a promoter or in cahoots with any bank. Our assessment of the available loan options for you is always impartial and objective, such that you have every last shred of information to make that informed decision.
    6. Privacy: We treat your personal information with the highest of regards. The information you provide is only shared with your chosen lender, and never shared with a third party for any reason whatsoever.
    7. Trust: Top banks in India like HDFC, ICICI and Axis Bank swear by the Bankbazaar name. Our reliable online technology has been powerfully adopted by these lenders to provide their customers the best loan experience on their own websites.

    How to get a Loan in India through BankBazaar.com?

    Applying for a loan on Bankbazaar be it a personal loan, car or home loan, is a simple and intuitive process. The following lists the various steps involved-

    Step 1- On Bankbazaar.com’s homepage, access the navigational menu that is located at the top of the page and select the LOANS menu item. Next, select from the various loan options on offer. The choices include Personal Loan, Home Loan, Car Loan, Used Car Loan and Education Loan. Choose the option that is relevant to you by hovering your cursor over it. Spread before you are some popular loaning banks (with regards to the loan option selected) and the friendly ‘Get Quote ’ and ‘Explore ’ buttons. Clicking on either of these will open up a neat interface with a bunch of simple questions. Simply provide the requisite information and follow the simple wizard by responding to the various prompts. Next, spread before you are the various applicable loan options. It’s time to choose!

    Alternatively, choosing the lender directly from this menu will allow you to properly check the features and benefits associated with this lender. The ‘Apply Now ’ option takes this step further.

    Step 2- You must compare between the various loan options before you and select the one that most appeals to your requirements and budget.

    Step 3- After the submission of the online application, you will receive an instant e-approval from BankBazaar. This application is next transferred to your chosen bank from wherein a customer support executive will get in touch with you within a short duration of time. Meanwhile, you can track your application through SMS alerts and email.

    Simple? Actually, it’s the coming together of various factors that help compare the different loan options available to you. Subscribing to BankBazaar helps save your time, money and efforts, while assuring you the best loan options that specifically address your exclusive requirements.

    Subscribe to our newsletter


    Car Loan Calculator: Monthly Automobile Repayment Calculator #jumbo #mortgage #loans


    #car mortgage calculator

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    Auto Loan Calculator

    This calculator computes monthly automotive loan payments.

    The First Necessary Step in the Car Buying Process

    Whether you buy new or used, it’s wise to get pre-approved for a loan before you ever step on a car lot. Go to your bank or credit union and ask the agent if you qualify for a loan and how much. The agent will check your FICO credit score and other obligations and provide you with an amount and interest rate. A FICO score can be between 300 and 850. The higher the score the lower the interest rate you will be offered. People with a bad credit history may pay interest rates that are more than double prime rates. You can also shop for auto loans online if you aren’t concerned about where your personal information goes. Armed with a pre-approved loan you are now in control and have a choice to go with dealer financing or stick with your bank, whichever rate is lower.

    How to Get the Best Deal

    Got new car fever? Well, first, you need to do a little homework. With the internet, the mystery of the automobile buying process has been unveiled and you can be a well-informed buyer ready to negotiate for the best price. First of all, go to ConsumerReports.org to check out vehicle reliability. You may be eying that shiny red sports car, but if its review states that this manufacturer has a history of poor performance or something like electrical issues, you may want to reconsider.

    Test drive the vehicle you have in mind, but renting one from a car rental company for a couple days is the ultimate test.

    The Internet has Changed Automotive Shopping

    After you have determined the car you want to buy, go to Edmunds.com to find the invoice price. Do not shop without this information in hand. It’s your leverage in the negotiating process. If you don’t have this piece of information, the dealer will work from the MSRP which is a much higher price. Consider MSRP as retail price and invoice price as dealer cost. Never pay higher than invoice price. And don’t worry, the dealer still makes a profit. There is something called holdback which the manufacturer gives the dealer for each vehicle. It’s usually 2-3 % which they receive quarterly. At times the manufacturer also offers dealer incentives for specific models.

    You can shop online and get instant automobile quotes at sites like CarsDirect and TrueCar. If you are not comfortable buying online you can always use their quotes to see if the traditional dealer will match the price.

    If you have looked ahead and planned your purchase, note that some times of the year are better than others to buy a car. Salesmen work on commission and have monthly, quarterly and yearly goals to meet. So buying at the end of one of these periods can save you money, especially if the salesman hasn’t hit his quota.

    If you have made a decision on the exact vehicle you want, visiting the dealership late in the day may work to your advantage because everyone is eager to go home. Aside from the information we provide here, you may want to read some personal stories of sale negotiations to better visualize and prepare yourself:

    • How to Negotiate for a Used Car The Art of Manliness
    • The Four-Square Technique that Dealers Use, and How to Beat It The Consumerist
    • One guy’s trade-in value dispute with a dealership after using TrueCar also from The Consumerist

    Understanding 0% Financing vs. Factory Rebate

    Many times dealerships will offer a choice of 0% financing or a factory rebate. How do you know which is better? Figure out the interest you would pay for the life of the loan if you financed with your bank. If the interest is more than the rebate, then take the 0% financing. For instance, using our loan calculator, if you buy a $20,000 vehicle at 5% APR for 60 months the monthly payment would be $377.42 and you would pay $2,645.48 in interest. If the rebate is $1,000 it would be to your advantage to take the 0% financing because the $1,000 rebate is less than the $2,645.48 you would save in interest. Be aware though, that unless you have a good credit rating, you may not qualify for the 0% financing and this option may only be offered on selected models. People with poor credit are a major source of profits because they can be charged far higher interest rates. Some buy here, pay here dealerships specifically focus on subprime borrowers.

    Some Used Cars Are a Real Bargain

    Before you take the plunge of buying a new car, consider a used one. Frugal shoppers know that new cars depreciate as soon as they are driven off the lot, and in fact lose on average 15-25% of its value each year the first five years. Buying one that’s a couple years old can still provide you with a reliable vehicle for thousands less while letting someone else take the depreciation hit. If you trade in every few years then depreciation is something to consider, so look for vehicles that traditionally hold their value such as Honda, Toyota or Lexus. If you keep your automobile until it falls apart, then depreciation is not a concern for you. New models for the upcoming year usually arrive late summer or early fall. Although selection may be limited, this is a great time to consider buying last year’s model because the dealer will need to make room for the new ones.

    Check the used car history by the VIN# on sites like Carfax or Autocheck. This will help eliminate anything that looks questionable. Anything that says it’s a salvage should raise a red flag. Salvage vehicles are those in accidents that the insurance company has determined repair costs are more than it is worth. Some shops will try to repair them and sale them at a steep discount. These are given salvage titles. Unless you are mechanically savvy, it’s best to avoid these. On the other hand, something called a program car is usually an exceptional bargain. A program car is a one that was driven on company business by a manufacturer employee. They are driven very little and are well maintained. They usually have 10,000 miles or less on the odometer. Dealers pay low prices for them and are not shy to advertise them. They usually still have factory warranties. Still not convinced to buy used? Then consider insurance costs on a used car will typically be significantly less expensive than on a new one.

    There’s More to a Loan than a Monthly Payment

    When it comes to borrowing money, a wise shopper looks at the total cost of the loan, and not just at the monthly payment. Too many advertisements state only the monthly payment. You need to dig deeper to see the real story. In general, a lower interest rate will cost you less money. A $20,000 loan at 5% for 60 months (5 years) will cost you a total of $22,645.48, whereas the same loan at 3% will cost you $21,562.43. That’s a savings of $1,083.05.

    That same wise shopper will look not only at the interest rate but also the length of the loan. The longer you stretch out the payments, the more expensive the loan will be. Let’s take that same $20,000 loan above at 5% at 5 years and see how much we can save by paying it off in 3 years. So, $20,000 at 5% for 36 months will cost $21,579.05 saving you $1,066.43. Using the calculator above (assuming $0 down payment, $0 trade-in and 1% sales tax) you will see that the monthly payment for the 5 year loan is $377.42 and the monthly payment for the 3 year loan is $599.42. If you can easily handle the higher payment the savings are well worth it.

    If your credit drastically improves your initial loan was at a higher interest rate, it may be worth looking into refinancing at a lower rate.

    What To Do with Your Trade-In

    Although it’s convenient to trade in your old vehicle to the dealer at the time of purchasing another, it’s not to your best advantage. You are likely to get the least value from the dealer, as they have to move it yet again and need to ensure a safe profit margin on selling it. They do not have to take your old automobile, and will offer you what will make them the highest profit. Some dealerships may offer artificially high trade in values, but only offer them in association with a higher price on the vehicle they sell you.

    The better option is to sell it privately. It seems even government agencies are freely giving out this advice; from the Arizona Attorney General to the FTC. Don’t underestimate the value of your old car. Go to Kelly Blue Book online to do your valuation research. If you can sell it, even for a small amount, it’s extra bargaining power for your new vehicle.

    Another option with your old automobile is to keep it. An old pick up truck used for heavy work can help protect the value of a new vehicle by minimizing wear and tear, along with depreciation. Automotive insurance companies typically offer multiple vehicle discounts.

    2007 – 2016 www.MortgageCalculator.org | Contact Us


    Car Loan Calculator – Loan Payment Estimator #private #mortgage #insurance


    #payment calculator for loan

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    Using Our Car Loan Calculator

    The first step is to enter the details of the proposed car loan in the fields to the left:

    • Vehicle Price – The price that you will pay for your vehicle
    • Down Payment – The amount of money that you will be putting down yourself on the car
    • Trade In – If you will be trading in your current car, put its expected value here
    • Owed on Trade – If you will be trading in and owe money on that vehicle, enter the amount here
    • Interest Rate – The interest rate that you will pay on the loan
    • Sales tax – The amount of sales tax levied in your area, this will be added to the vehicle price
    • Term (Months) – The number of months that your loan will run over, typical terms for a car loan are 36, 48 or 60 months
    • Start Date – This is the day that you sign your car loan contract, the first payment will come due one month later

    Once you enter your details click “Calculate” and your loan information will be generated.

    Understanding the Results

    There are four main sections in the results:

    Loan Summary

    This section gives you a brief summary of the proposed auto loan which includes the expected monthly payment, the total cost of the loan, total interest paid over the life of the loan and the date that the loan will be paid off in full. If you are simply trying to determine the monthly payment then this section is all you will need.

    Cost Breakdown Chart

    This pie chart provides a visualization of the total costs showing both the principal and interest paid over the term of your contract.

    Principal Balances Chart

    This chart shows you the balance of your loan at the end of each month over the term. Hovering the mouse over the line will popup a tooltip with the exact balance amount.

    Amortization Tables

    The final section is the amortization tables, there are three tabs here, the first shows your car loan amortized yearly, the second shows the monthly amortization for people who need full details and the third provides some further information breaking down all of the costs individually.

    Each row on these amortization tables gives you a snapshot of your loans position at the end of the specified year or month and tells you exactly how much principal and interest you would pay, and the remaining balance at that point in time.

    Final Note

    While this auto loan calculator should be highly accurate and give you a solid idea about the costs of a proposed car loan, it is not professional advise and should not be relied upon when making your final purchasing decision. Always talk to a professional directly and fully understand what you are getting into before signing a loan contract.

    Loan Summary

    Monthly Payment
    $587.13


    Auto Insurance Tips: How Does Auto Insurance Work #how #car #insurance #claims #work, #auto #insurance


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    Auto Insurance Buying Guide

    Understand why you need auto insurance

    In short, you need car insurance to protect your car, yourself and your passengers. You also protect any assets, like your home and savings, as well as comply with state law.

    Auto insurance tip #2

    Know your current coverages-but be willing to adjust

    Use your current coverages and limits as a starting point; you can refer to your declarations page for this information. Then, adjust your coverages as necessary to match your lifestyle-which might be different than it was when you first bought the policy.

    For example, if your teenager starts driving next month, you might consider adding him or her to your policy now. Or, if you just bought a new car, you might choose loan/lease payoff coverage. so that if your car is stolen or declared a total loss, you’ll have help paying off your loan or lease.

    Auto insurance tip #3

    Decide what you want to protect, then choose your coverages

    Here are some of the auto insurance coverages that might be available in your state:

    Coverage to buy

    Protect your car against damage caused by a collision with another car

    Protect your car against damage caused by hitting an animal or other events, like theft or a fire

    Cover repair/medical bills for an accident that’s caused by a driver who has no insurance or doesn’t have enough

    Uninsured/underinsured property and bodily injury

    Cover medical bills if you or your passengers are seriously hurt in an accident

    Medical payment/personal injury protection

    Protect your assets in case of a lawsuit

    Bodily injury and property damage liability

    Cover the cost of a rental car if you have a claim

    Pay off your loan/lease if your vehicle is declared a total loss or is stolen and not recovered

    Auto insurance tip #4

    Use deductibles to your advantage

    Your deductible is what you agree to pay out of pocket when you use your car insurance. In general, the higher you set your deductible, the less you’ll pay for your policy. And conversely, if you set your deductible low, you’ll pay more for your policy, but less when you have a claim.

    Auto insurance tip #5

    Know that certain things affect your rate

    Insurance companies evaluate a variety of things when they calculate your rate, from your driving record to where you live and how many miles you drive on average. Keep this in mind when you see your rate.

    Also, remember that to help you get your best rate, Progressive factors in any auto insurance discounts that apply to you. Plus, with Snapshot . you can turn your good driving into additional savings.

    Ready to choose your coverage? Start a free Progressive auto insurance quote .

    Two ways to quote. Tons of ways to save.