Car Loan Quotes

It definitely pays to shop around when financing your car purchase. Car dealerships often provide their own financing but they simply sell you a car loan provided by a local bank. They repackage the loan with 1-2 percentage points added to the banks offer, which is straight profit for the dealership. Worse yet, they are not required by law to disclose this practice.

I highly recommend shopping for car financing online before visiting the dealership. One of your first stops should be Bankrate.com as it will show you local car loan rates in your area.

Securing a car loan with a great rate can save you thousands of dollars. The following table estimates the monthly and total payments for a 5 year, $30,000 car loan depending on the interest rate you receive:

APR%	Monthly Payment	Total Payment
6.0	$580	$34,800
8.0	$608	$36,480
10.0	$637	$38,220
12.0	$667	$40,020

Use our car loan calculator to experiment with APRs, loan amounts, and loan lengths to calculate monthy and total payments for any type of car loan. Simply enter numeric values for interest, year, and loan amount. Click the "Compute Payment" button to determine the monthly and total car loan payment.

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