Here's How to Make Sure You Don't Overpay for Your Car and Car Loan

Everyone wants to get the best price on their next car purchase. Finding a car with the right price is the first step, but you'll also need to carefully consider your loan. An auto loan calculator is a helpful tool to use as you analyze car loans. This tool allows you to input the vehicle's price, loan term, and interest rate, as well as other fees and costs, to see both the monthly payment and total cost of the loan over its lifetime. By using it well, you can avoid overpaying not only for the car itself, but also for the loan. If you've never used an auto loan calculator before, these tips will help you make the most out of this tool.

When a borrower wants to refinance car loan terms and payments, the process involves applying for a new car loan to pay off the existing one. Most automobile loans are secured with the vehicle serving as collateral and the borrower making fixed payments over several years.

Last week on Living Local Carolina, we dove into Carolina Trust's Auto Loan options. As people are beginning to go back to work and school, we know that obtaining a means for transportation is becoming more prevalent, and we're here to help!