December 28th, 2008

Auto Loan Calculator – Top Two Websites

An auto loan calculator is your best choice if you are thinking about the financial side regarding potential auto leases and loans. There are many websites that offer these free auto loan calculator, but not all provide you with the calculations for every situation or type of loan. The following are a list of the top two websites for auto loan calculators, and are amongst the most recommended online:

Yahoo! Finance

Rated as the number one financial website, it offers a finance auto loan calculator that is very unique. It allows you to not only enter the basic negotiated sales price, state sales tax, loan terms, interest rate, down payment, trade-in value and rebates, but it also lets you immediately see what the current national and local interest rates are for new and used cars. Best of all you can look up all the major vehicle brands, their trim type and their model type to get the current average sale price. In addition you can look up the trade-in value of the vehicle you have chosen and once you click ‘calculate’, you will be shown the monthly payment. However, you can also use this for auto leases and even have a comparison between a lease and loan on your vehicle of choice. This auto loan calculator is located at http://autos.yahoo.com/finance/loan-calc/;_ylc=X3oDMTBybXF0cjE1BF9TAzk3MjY0NTAyBHNlYwNzbXgEc2xrA3NteA–.

Fool.Com

Rated as the number two financial website, it has an auto loan calculator that goes into great detail to help you decide between purchasing and leasing a vehicle. First it asks you to enter information about the sales price, the sales tax, the age of the vehicle, cash rebates, down payments, other costs (upfront), the loan terms and the interest rate for a potential purchase. Second, it asks you to enter information for a potential lease, including the lease terms, monthly payments, security deposits, money paid up front, the interest rate for savings, federal/state tax rates and the depreciation expected – low, average or high. Then it calculates everything to give you a comparison chart between a purchase versus a lease. This auto loan calculator can tell you the total cost annually, the total payments to be made, the taxes that you have to make on the day you make a purchase, your total monthly payments, the total interest that will accumulate and the total depreciation amount. To use this excellent auto loan calculator, go to http://www.fool.com/calcs/calculators.htm?terms=auto+loan+calculator&vstest=search_042607_linkdefault#auto and click on the link about whether or not you should make a purchase or get a lease.

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