Interested in purchasing a new vehicle? Unsure what you can afford? Utilizing our car loan payment calculator at Maserati of St. Petersburg can give you an estimate of how much you’ll be paying.
How Does a Car Loan Payment Calculator Work?
An auto payment calculator helps you determine how much your car payment will be. It takes a variety of factors into account and uses them to give you an estimate of your monthly payment.
Keep in mind, these are strictly intended as an estimate. There are lots of flexible variants that are used in your estimate, including your interest rate.
Which Factors Determine Your Auto Payment?
There are a multitude of factors that go into your estimate. Try to be as realistic as possible when filling out the form in order to get the most accurate payment amount.
- Price – the total cost of your vehicle
- Down payment – the amount you plan to pay upfront for your vehicle
- A.P.R. – your annual percentage rate or estimated financing rate
- Term – the total length of your loan, typically measured in months
How Much Can I Afford?
Getting an estimate of your car payment is so helpful in determining what you can afford. When it comes to buying a car, there are a few guidelines to keep in mind. It’s best to keep your car payment under 10-percent of your take-home pay.
Don’t forget to also consider the added expenses of owning a car, such as maintenance costs, insurance, and more. It’s best to not let the total costs outweigh 20-percent of your take-home pay.
Want to learn more about the financing process? Ready to get started? Reach out to our Maserati dealership in Pinellas Park, FL – we’re happy to help!