The most common mistakes you make when buying a new car are buying it poorly, having a bad lease and then paying for it.
That’s why we’ve put together this handy car loan calculators for you.
You can use this calculator to calculate the interest rates, loan terms and finance options that will best suit your needs.
For example, if you buy a new 2018 Honda Accord for £50,000, you’ll be paying £8,000 a month for the car.
This is about $7,000.
That means you could be paying between $30,000 and $35,000 for the Honda.
The calculator is divided into three categories: loan terms, finance options and financing costs.
The loan terms are where the savings lies, with the cheapest option offering a minimum of £1,000 down and a minimum loan term of four years.
You could have to pay back the entire loan in one go if you need to.
Financing options are where you might find yourself spending the extra money, including interest rates on loans of up to 25 per cent.
It’s important to remember that the calculator only includes the interest rate, but it doesn’t include any finance costs.
There’s no way to know if you’ll pay back your loan at the end of the loan term.
The most important thing is to use the calculators to find the best terms that suit your budget and lifestyle.
Get our car loan advice now