Auto Loans: A Guide to Predictable Repayments
For most people, buying a car is not a simple matter of swiping a card or signing a cheque, and so an auto loan is an excellent way to finance a new car purchase. In order to form a realistic repayment plan, it's crucial to consider more than just the principal, as interest, taxes and dealer fees can all affect the total repayment amount of a loan. Fortunately, calculating the total repayment amount of a fixed rate loan and breaking it down into monthly payments is a matter of simple math, and can help you get a better idea of what taking on a car loan means for your finances.