As you go to purchase your next vehicle, if you’re anything like the millions of other car buying Americans, it’s likely that you’re at least entertaining the idea of taking out a loan to pay for the car you’ve got your eye on. With that, you’re also probably just slightly curious as to what your monthly payment is going to look like, and how much interest you could be paying over the life of the loan. If at this point you find yourself scratching your head, wondering how you’re going to figure out all of the details, don’t panic! With Carvana’s brand new Auto Loan Calculator, you can calculate your budget ahead of time to determine the figures that make the most sense for you and your lifestyle!
By visiting carvana.com/auto-loan-calculator, you are able to quickly and effectively discover exactly what it’ll take to purchase the vehicle you want. To begin calculating your auto loan, enter in the total price of the car you want. After that, select the credit score rating that most accurately applies to you from the drop down menu, along with the length of your prospective loan term, and then enter in the amount of money you plan to pay for a down payment on the vehicle. As you make changes to these fields, the calculator goes to work, updating what you can expect to pay per month as you go. Wondering if the rate you’re getting is fair? Use our Auto Loan Comparison tool to see if the rate you’re being quoted is actually the best rate available for you!
If you’re more so curious as to how much car you can afford, simply toggle over to the “How Much Car Can I Get?” tab. Instead of entering in the total price for the car you want, the only difference here would be entering in what you would ideally like your monthly payments to be. Once you’ve completed the fields in either tab, click “Find My Car” to begin searching for your perfect vehicle with an educated idea of your budget parameters.
At the end of the day, our goal is to provide you with every tool you need to make the most informed vehicle purchase possible. With Carvana’s new Auto Loan Calculator, you are now empowered more than ever to purchase with comfort and confidence!