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car payment calculator
Is there a payment calculator that will let you enter different cars from different places at the same time so you can compare car payments side-by-side? Also, do you have any general advice about buying a new car in this economy?
Thank you!
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Hey, you can use help of either online car loan calculators like this one [Link](Mouse over link to see full location) or get any of these programs onto your computer [Link](Mouse over link to see full location) Both of the ways are good, I would recommend downloading and installing software as you get an access to your calculations offline.
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There are lots of calculators online. A quick Google search for "car payment comparison" yielded too many to post here, so this is the first one:
[Link](Mouse over link to see full location)
My first piece of advice when it comes to buying a new car is don't. At least, don't buy a brand new car from the dealership. Cars depreciate very, very quickly. Seriously, as soon as it's driven off the lot, there's a couple grand gone. You also have no guarantee that it's going to be good. My family has seen its fair share of brand new lemons. The best practice is to buy used from a reputable dealership. That way someone else eats the early depreciation.
The second thing I would say is to go in with a good idea of what you want to spend in total. We had one really skeevy salesman in particular try to push us way past our comfort zone by phrasing the price in terms of a monthly payment. Sure, it was only $280 a month... for 96 months! Know what you can afford and stick to your guns. Try to keep your payments under 5 years if at all possible. You don't want to be still paying off the car when it's 8 years old.
Lastly, remember that it is a business decision. You might fall in love with the beautiful but expensive car. Heck, we all do... but looks aren't all that important in this decision. Your car is to get you from point A to point B. Make sure it can do that. If it's your only vehicle, you may want to consider a hatchback rather than a sedan. We did, and it means that we don't have to bug a friend with a truck every time we want to haul drywall or go to Ikea. Think about what is most important to you, make a list, and stick to it.
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