Auto Loan Tips, Calculators, Rates
How Much of Your Car Should You Finance?
Before you begin looking for a new car, you should know your limits and what you should be spending. Experts say you shouldn't spend more than 10 percent of your gross income on car expenses, which includes the cost of the car along with insurance, gas and maintenance.
Understand the Cost of Operating Your Car
Not only is it important to project how much a new car loan will cost over the life of the loan, but it's also important to keep in mind the operating costs of any car you consider purchasing.
The Federal Highway Administration oversees all transportation policies relating to highways, cars and trucks. You can get a free brochure "The Cost of Owning and Operating Automobiles," which explains the various annual costs of operating a car, including insurance, repairs, taxes, registration and gasoline. It also provides detailed benchmarks of your car ownership for the first through twelfth year of ownership, against which you can judge the projected operating costs of the car you plan on buying. You may reach them at (202) 523-0163.
In addition to the Federal Highway Administration providing helpful information, the Federal Trade Commission offers consumers the opportunity to read about "Auto Service Contracts," "Buying a Used Car," "Car Ads: Low Interest Loans and Other Offers," "Car Financing Scams," and "A Consumer Guide to Vehicle Leasing" in their brochures. The FTC has jurisdiction over car dealers and can be reached at (202) 326-2222.
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Before you begin looking for a new car, you should know your limits and what you should be spending. Experts say you shouldn't spend more than 10 percent of your gross income on car expenses, which includes the cost of the car along with insurance, gas and maintenance.
Understand the Cost of Operating Your Car
Not only is it important to project how much a new car loan will cost over the life of the loan, but it's also important to keep in mind the operating costs of any car you consider purchasing.
The Federal Highway Administration oversees all transportation policies relating to highways, cars and trucks. You can get a free brochure "The Cost of Owning and Operating Automobiles," which explains the various annual costs of operating a car, including insurance, repairs, taxes, registration and gasoline. It also provides detailed benchmarks of your car ownership for the first through twelfth year of ownership, against which you can judge the projected operating costs of the car you plan on buying. You may reach them at (202) 523-0163.
In addition to the Federal Highway Administration providing helpful information, the Federal Trade Commission offers consumers the opportunity to read about "Auto Service Contracts," "Buying a Used Car," "Car Ads: Low Interest Loans and Other Offers," "Car Financing Scams," and "A Consumer Guide to Vehicle Leasing" in their brochures. The FTC has jurisdiction over car dealers and can be reached at (202) 326-2222.
Yahoo! Auto Loan Tools
Rates
Loan vs. Lease
Calculate Loan Payments
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