The calculation of the auto loan installment is essential if you intend not to be faced with unpleasant surprises during the amortization plan. For this reason, it is useful to inquire beforehand and choose the loan that best suits your needs.
Calculate car loan installment: the Best bank offer
Several financial companies and credit institutions offer customers ad hoc plans for the purchase of new or used cars. To know more about car loan installment calculation, it is useful to analyze some of them, starting from the Best bank offer.
What does this financial company propose? A special product known as Vehicle Credit which allows, taking as an example the request of $ 13,000 for the purchase of a used car, to repay the debt through monthly installments of $ 194 each (TAN 6.65% and APR 6, 86%).
Car loan installment calculation: what Cream bank proposes
To really understand how things work in relation to calculating car loan installment, it is also good to observe the case of a loan for the purchase of a new car.
Let’s take as an example the offer of Cream bank which, always keeping the request of 13.000 $, would allow to repay everything with monthly ratr from 234.20 $ each (TAN of 12.10% and APR of 14.09% ).
Car purchase loan installment calculation: the Astro Finance option
Among the many alternatives that allow you to clarify the ideas on calculating the auto loan installment, there is also the Astro Finance offer. Let’s take another example and always assume the request for $ 13,000 for the purchase of a new car.
In this case, the customer would have the possibility to repay the debt in monthly installments of $ 217.30 (fixed TAN of 9.90% and APR of 10.95%).
Car loan installment calculation: the Lite Lender alternative
We complete the review dedicated to the calculation of the auto loan installment by analyzing the Lite Lender proposal. As always, we deepen the offer with a short simulation and, once again, assume the request of $ 13,000 for the purchase of a new car.
In this case, the plan provides for repayment in monthly installments of $ 207.32 each with fixed TAN and APR equal to 8.72 and 9.50% respectively.
Capital Lender also allows you to apply for financing for the purchase of both new and used cars. In this case, assuming the request for $ 10,000 to be repaid in 60 months, there would be a monthly installment of $ 195 (fixed TAN of 5.54% and APR at 6.65).
For this method of loan, 200 $ of preliminary costs and no charge for stamp duties are foreseen, except in the case of annual reports higher than 77.47 $.
With the Capital Lender package dedicated to car loans it is possible to include registration costs, stamp duty, insurance and transfer of ownership in the same account.