Are you going to make auto purchase with a low interest financing rate? Definitely this can save your valuable money by reducing interest cost. But how much you can save from this option and how much you can save in comparison will be showed by this calculator. Beside, you can decide on how much you should pay every month to save a certain amount of money.
Balance to finance
The remaining balance of the auto purchase after the down payment. This shows the amount of money you willing to finance with a low interest loan. Taxes and fees are also counted to calculate the balance to finance.
Interest rate (APR)
The percentage rate charged annually on the loan to determine your low interest financing savings.
Down payment (cash+trade-in)
The total amount paid primarily while entering into an auto purchase contract. This cash down should not exclude the trade-in value of your old car.
Term in months
This field includes the number of months it will take you to repay the loan. You can get financing for up to 10 years.
Residual (G. O. P. P.)
If the contract is for lease purchase, this is the value of your automobile after the expiration of lease terms. This value has a negative relation with the amount of lease payment.