How Do I Calculate Car Payments Before Shopping For A Vehicle?

As a former car salesperson the number one question in every sale was "what will my payments be?"  It's definitely on everyone's mind when financing a car. Especially if you're a first time buyer or you need a bad credit car loan. Below is an easy to use car payment calculator:

Playing with different amounts and payments is helpful when trying to decide what car to buy. However there's something else that's more important. Pre-Approval.

When a salesperson presents you with "payments" during the car negotiation process most often on the first or second pass
he is showing you an interest rate 2% to 3% higher than you really could get (if you let the dealership find you financing). This
way if you say the payments are too high he can just move the interest rate down to lower the payments without actually
lowering the price of the vehicle.

This is the primary reason we tell you to walk in pre-approved! They can't manipulate the interest rate if it's fixed already.
Which means then it's up to you to pick the best car in your price range and negotiate that price down!

When you walk into a dealership pre-approved, and you’ve used your car loan calculator to figure out your payments based on
what you want to buy, you can then turn the tables on the car salesman and make a great deal for yourself on that new car by not letting him try to manipulate your payments while maximizing his profits!

CLICK HERE FOR OUR LIST OF BAD CREDIT AUTO LENDERS

WHAT PRE-APPROVAL DOES FOR YOU

Regardless of your credit score, being pre-approved for an auto loan gives you more options when you walk onto the car lot. Once you’re approved for a car loan you are in the drivers seat! You are free to shop for the BEST vehicle in your price range!  Before you start shopping for bad credit auto loans though. Here's some helpful advice.


KNOW YOUR CREDIT SCORE

Don't Rely On The Dealer! Dealers take a cut of all car-financing deals they land. And they get MORE if they can bump the interest up 1 or 2 percent higher without you knowing it. They especially like to do this with bad credit car loans.

CAR NEGOTIATING TIPS

I never did like all the tricks used to manipulate people so after I left car sales I decided to write these articles on car buying tips to help you negotiate for a fair deal. Here are the three most common verbal tricks salespeople use during car negotiating to confuse you and maximize their profit.