Buying a truck is a huge investment, whether it is for personal or commercial use. Before purchasing a new or used truck, utilizing a loan calculator to get an estimate of the monthly payment is an excellent way to invest well. Buying a truck without first calculating the loan and loan payments will leave the buyer frustrated and unprepared instead of enjoying a brand new truck.
Personal Truck Loan Calculator
Bankrate.com allows users to compare and estimate rates on everything from mortgage payments to credit cards. Fortunately, they do estimate auto loans, letting the user select their product and the length of the loan.
This website lets their users input much more data about the car, like the trade-in value and the current interest rate, to determine the monthly payment. Although it is designed for cars, this tool will work well for calculating a personal truck loan.
In addition to a simple loan calculator, they also provide their users with suggestions as to where to find a truck loan. As an additional bonus, their loan calculator shows an amortization table.
Bank of America's mortgage calculator is clean and simple. After a car payment is calculated, a user can also discover how much they can comfortably afford and if they could save money by refinancing.
This calculator is exactly what it claims to be. It is simple and a bit out of date, but does allow users to calculate a loan payment, factoring in things like the loan term and trade-in value.
Commercial Truck Loan Calculators
This loan payment calculator may be simple, but the rest of the website provides features like a price checker and a link to industry resources.
Commercial Truck Finance Calculator
This loan calculator is much more comprehensive than others on this list. It offers to include details like a down payment, trade in amount, and the amount owed on a trade. The loan summary is extensive and includes graphs to sum up the information.
The website for Freightliner Trucks may be a little crowded, but they do offer quite a few options for calculating payments and how much of a truck is affordable for the buyer. They also offer financing for owner-operators and fleets, and ways to purchase trucks through their company.
This is the most simple loan calculator on the list. It asks for three simple things: the loan amount, the loan term and the APR (interest rate). Based on these, it will process a basic payment amount for the buyer.
Each of these websites will provide a potential truck buyer with a basic loan calculation for a truck, but a few of them go above and beyond. When purchasing a new or used truck, using a loan calculator to plan payments is a smart and worthwhile move. All the calculators listed are free and easy to access online, so being prepared to purchase has never been simpler.
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