How to Calculate Your Car Payment
When you use the car payment calculator, you won’t be able to find the exact price for your car payment due to additional fees, taxes, and any discounts you may qualify for. However, you can get close to your expected payment and use that information to help you negotiate the vehicle price with the dealership and lenders.
Using our car buying calculator is easy for Kansas City drivers — simply input the information below to find your approximate monthly payment.
- Vehicle Price: Enter the price of your favorite CDJR vehicle or the price you’ll believe you’ll pay after receiving certain offers or discounts.
- Interest Rate: Enter your credit score to calculate your interest rate. This number can vary depending on your credit history, so it’s best to try and raise your credit score before you purchase your next car.
- Loan Term: The loan term is how long your loan will be. A typical car loan can be anywhere from 12 to 82 months in Blue Springs.
- Down Payment: This is the amount of cash you can put down on your new vehicle at the dealership. Your down payment will be subtracted from your vehicle total.
- Trade-In Value: If you’re trading in your old vehicle, use our trade-in calculator to find the current value of your car. You can then apply this value to the car finance payment calculator.
When you’re finished entering the above information, you can hit “Calculate Payment” and find out how much your car payment will be!
Benefits to Using the Monthly Car Payment Calculator
The car payment calculator can do more than provide an estimated car payment; you can use it to calculate everything from estimated trade-in values to the best loan term for your budget. We’ve broken down the benefits of using the payment calculator below:
- Estimating New Car Prices: Use the vehicle’s sticker price (the MSRP) as a starting point. However, keep in mind that most sticker prices are negotiable, and you can receive a discount with dealership offers, such as new vehicle specials. Manufacturer rebates can also lower the sticker price. Remember to include the “destination fee” and the cost of options that is charged for all new cars in Independence.
- Estimating Used Car Prices: Calculating the cost of a used car can be trickier since the price is often very negotiable. Start with the dealership or seller’s asking price, and use online pricing guides and local ads for comparable cars to see if you can negotiate the cost.
- Estimating Trade-In Values: Use the calculator to your advantage by checking the trade-in value of the car you want to buy. This will help you negotiate the price when it comes time to buy.
- Estimating Interest Rates: If you’ve been pre-approved for a loan, enter the rate you’ve received from the lender to see how much you’ll pay each month. If you have offers from multiple lenders, use the calculator to see which lender is offering you the best deal for your budget. If you know your credit score, you can use the car payment calculator to estimate the interest rate you may be offered.
- Estimating Sales Tax & Fees: When you use the calculator, it’s important that you don’t forget about the taxes and fees that will be added to your total. You’ll need to pay a state and local tax, a documentation fee, and registration costs as well. If you’re having trouble estimating these costs on your own, contact us, and we’ll help you find the costs for your area.
- Choosing Loan Terms: The payment calculator can also help you find the loan term that works best with your budget. Most loans range from two to six years, but the longer your loan term the more you’ll pay in interest.
In general, we recommend that you use the payment calculator as much as you want in as many capacities as you want to find the plan and vehicle that best fits your budget. If you need any assistance finding information for the payment calculator, reach out to our finance team, and they’ll be happy to help you!
Find Your Next Car at McCarthy Jeep Ram!
Now that you’re more familiar with how our monthly car payment calculator works, how to estimate your car payment, and how much your car payment can be, browse our other online tools, and read our car buying tips, so you have all the information you need when you visit our dealership. We look forward to helping you find the financing or leasing plan that’s perfect for you!
