Question: How do I determine the amount I need to borrow, (amount financed)?
To determine the amount you need to borrow estimate the sales price of the vehicle you intend to buy, add in the estimated sales tax (sales price times your states auto sales tax rate), then subtract the amount you intend to place as a down payment and or the estimated net value of your trade in. This number should be close the the auto loan amount. Another method is to use our loan amount calculator and estimate the amount you want to pay each month and the loan term.
If you have additional questions that are not covered in this section, feel free to drop us a note at contact@myAutoloan.com.
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