Banks issue installment loans for a variety of purchase requests. What you use the money , you are free. For example, you can use it to buy a vehicle. Alternatively, you can also use a dedicated car loan , which is usually the financing at a cheaper rate possible. So that you can compare the conditions of these offers well with each other, use our car loan calculator. This will help you to find a vehicle financing that does not unnecessarily burden your wallet.
How to calculate the interest on car loan
The interest rates that banks charge for a car loan can vary significantly – differences of several percentage points are not uncommon. Therefore, it makes sense to compare the rates of financial institutions and financially relieve. Use the car loan calculator for this purpose. This calculates in seconds the interest rates for your desired loan amount and duration . You then have to decide only for a bank with an attractive APR. Pay particular attention to the car loan comparison on this interest rate, as this combines the borrowing rate, the term and the processing fee – virtually all relevant price-determining factors.
But there is a problem: Banks assign both credit-based and non-credit-standing car loans. These are difficult to compare. To help you find cheap car financing , the calculator shows the average annual effective interest rate for each offer that at least two-thirds of borrowers have received from the bank on the terms specified. However, this rate is only a guideline – how much you ultimately pay depends on your credit rating . So it is easy for you to find a cheap car financing with the car loan calculator.
The remaining debt insurance is not listed in the calculator
However, this does not cover all costs: If you also want to take out a residual debt insurance , your costs will continue to increase. The car loan calculator but you can not see how much they are because the protection is optionally completed.