Car expenses can be daunting, but we've got you covered. Understanding monthly payment is key. Utilize our calculator to determine your ideal payment.
*Interest rate estimate based on your credit score. The information provided is for illustrative purposes only and is not an offer to lend. Source for credit range and rate information: Experian Q1 2023 State of Automotive Finance Report, for used vehicles.
Monthly Income
Calculate your total monthly income after taxes. This includes your salary, any freelance work, and other sources of revenue. Knowing your income is crucial in setting a realistic budget for a new car.
Expenses
Subtract your monthly expenses from your income. This should cover rent, utilities, groceries, and any other recurring payments. Understanding your disposable income is key to determining what you can afford to spend on a car.
Insurance & Fuel
Estimate gas and insurance costs in advance to help ensure that your vehicle choice is sustainable. With Rydeshopper, you can explore various models to find one that fits your needs.
Auto Loan Determining Factors
Credit Score
Your loan APR is directly affected by your credit score. Attaining a FICO® score in the range of 661 to 850 can result in more favorable interest rates.
Loan Term
The duration over which you will make payments on your auto loan, with the typical term spanning from five to six years.
New Vs. Used
Choosing to finance a new car often comes with the advantage of lower APRs compared to used vehicles.
