Auto Financing Fundamentals
Loan Terms & Rates
Auto loan terms typically range from 36 to 84 months. Shorter terms have higher monthly payments but lower total interest costs. Credit score significantly impacts your interest rate.
Down Payment Strategy
A larger down payment reduces your loan amount, monthly payment, and risk of being underwater on your loan. Aim for at least 10-20% down on new cars.
Trade-In vs Private Sale
Trading in your current vehicle is convenient but may result in lower value. Private sales typically yield higher prices but require more effort and time.
New vs Used Financing
New car loans often have lower interest rates and better terms, while used car loans may have higher rates but lower overall costs due to lower purchase prices.
Smart Auto Financing
Make informed decisions with our professional-grade auto loan calculators. Compare financing options, understand payment structures, and optimize your auto financing strategy.