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You can lower your monthly car payment by making a larger down payment, so that you borrow less money in total. You could also choose the loan with the longest term, for example, paying $250 per month for five years instead of $417 per month for three years.
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∙ 9y ago
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What does the down payment on a used car pay for?
It is applied directly against the purchase price of the used car. The more you down payment, the less owed and the lower your monthly payments will be.
Average cost of a monthly car payment?
The average cost of a monthly car payment is $250. Of course the actual amounts will differ depending on the value of the car, and the amount of the down payment.
What can affect your monthly car payment?
Interest and down payment.
Do you have to pay a monthly service for your car alarm too?
Some car alarms are automatically included in the car and do not require a monthly payment. However, there are some car alarms, such as the GPS car alarm, which can be installed for life or require a monthly payment.
What is the average monthly car payment?
the average car payment is about 200$ which this stayment is not made based on the car types.
Can I pay an extra monthly car payment to speed up the pay-off, like on my mortgage?
Yes, if you are paying of a car loan, there is no penalty for paying over your monthly payment. However if your monthly car payment is on a lease agreement you will have to refer to the terms of your lease as to what is allowed.
A good reason to refinance your home is to:?
lower your monthly payment.
Where can one get information on how to get a lower monthly payment on a mortgage?
There are many ways in which one can gain information on how to get a lower monthly payment on a mortgage. The most reliable way is to go to your bank for advice.
Is it smart to pay off a car with a credit card that has lower interest rate?
In most car loans, a fixed rate and monthly payment will apply. You may have a credit card with a lower rate but if you make only the minimum monthly payment, you will most likely be in debt longer so the lower rate won't help you. It also depends on if your credit card interest is calculated on a daily average balance or compounded. Make extra payments to your car loan to pay less interest. [A average creditcard balance of $11,000.00 at 19.99% with a $100.00 monthly payment can keep you in debt for 29 years].
Lower Your Payments?
Most banks and car dealer websites have an auto refinancing calculator that customers can use to recalculate their monthly payments. If you have been making more than the required monthly payment, you can most likely get your monthly payment lowered. The interest may be the same or a bit lower if you have been on time with your payments. Be sure to enter all of the information into the calculator correctly so that you have the most accurate payment information.
How do I calculate my monthly car payments for it?
This is a very good website to calculate the monthly car payments: http://autos.aol.com/calculators/car-payment-calculator/ or http://www.carmax.com/enus/car-payment-estimates-calculator/default.html
How can one calculate car payments?
The first thing you do is to figure out the amount of money that comes into the household monthly. Next how much is spent out on various bills, etc. then figure how much is left for a car payment. Next figure out the down payment. The higher the down payment the lower the monthly payment. Begin checking out cars in your pay range. If you go with a dealer check on rebates. Take the full price of the vehicle deduct any rebates and the down payment then divide by how many months to pay and this will tell you how much your monthly payments will be.
