How to Determine Your Monthly Payment

December 11th, 2018 by

Calculator on top of money money with word "Loan" spelled out in it

At Jordan Toyota, we believe being transparent and providing you with all the information we can so you can make the smartest car buying decisions. Our monthly car payment calculator and other online tools allow you to get the most accurate estimate possible without having to leave your Osceola home. Find out how to determine your monthly payment with the financial tools at Jordan Toyota.

Calculating Your Car Payment

While you can’t calculate your monthly car payment to the penny, having a good estimate will put you in the driver’s seat at the dealership and help you compare auto loan offers. Here’s how to use the auto loan calculator and a look at the different numbers that will make up your car payment.

  • Car price: In this field, put in the retail price of the vehicle with any specials offers taken into consideration.
  • Interest rate: You can enter the auto loan rate you’ve pre-qualified online for, or estimate your rate based on your credit score. If you aren’t sure where your credit score stands, you are entitled to one free comprehensive credit report a year from the government site
  • Loan Term: Enter the loan term, or the number of months you plan to take to pay off the loan.
  • Down Payment: Enter the total amount of cash, if any, that you’re putting toward the new car.
  • Trade-in Value: Enter the value for any vehicle you may be trading in towards your car purchase. Not sure what your car is worth? Use our value your trade tool online for an estimate.

Press the “Calculate Payments” button and you will be given an estimated payment based on the information you entered, as well as the ability to adjust it based on the loan term. You can also re-do your calculations by changing the trade-in value, down payment, and the interest rate to see how it impacts your car payment.

Take Advantage of the Loyalty Benefits at Jordan Toyota

When calculating a vehicle purchase, don’t miss the money-saving loyalty benefits that come with a vehicle purchase at Jordan Toyota. Deductible reimbursement, free food, discounted gas, and travel savings are all part of the Jordan Toyota Experience. To learn more about our loyalty program, or get help with your auto financing needs, visit us today in Mishawaka.

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