Three Online Tools to Help Budget for a Car or Loan

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Megan Foukes is a recent graduate from Indiana University who graduated with a bachelor’s in journalism. Megan works as a content writer for Auto Credit Express and contributes to several automotive and finance blogs.


, - January 31, 2018

Budgeting for a car is one of the most important steps to take when buying a car. A great way CarsDirect can help buyers budget is with our online tools.

The Tools You Need

Knowing how much money will be distributed throughout the loan is important. If a buyer realizes they won’t have the money to pay for the loan before taking it out, it’ll save them unnecessary stress and hits to their finances. When budgeting for an auto loan, there are three tools a buyer should consider using:

  • Car loan calculatorCarsDirect’s car loan calculator comes up with a finance and lease total by breaking down five categories: desired monthly payment, expected monthly payment, approximate credit rating, loan/lease term, and sales tax. This tool is great for looking at the basics in a car loan. A potential buyer can compare numbers and see what will be the best price on their next loan.
  • Down payment calculator – Traditional lenders often ask for a down payment, and subprime lenders will require one. Based on how much a buyer puts down, a down payment calculator will give an idea of what the monthly payment could look like. A down payment calculator typically needs the purchase price of the vehicle, interest rate, and sales tax rate along with the down payment amount.
  • Car compare tool – If a borrower can’t decide between two or more cars, CarsDirect’s car compare tool is a good source of information. Being able to pick the right vehicle for the borrower’s needs is just as important as its cost. Compare prices, features, safety ratings, and more among a handful of different vehicles.

Save Your Money Up

Utilize these online tools to budget for your next vehicle. The more prepared you are, the easier the car buying process can be. If you’re struggling with finances or finding the right vehicle, let CarsDirect help.

We work with an extensive network of dealers who have the resources to help people in many types of credit situations. Let us guide you toward a local dealer. Fill out our no-obligation online auto loan request form to get started today.

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Megan Foukes is a recent graduate from Indiana University who graduated with a bachelor’s in journalism. Megan works as a content writer for Auto Credit Express and contributes to several automotive and finance blogs.


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