FFUN Cars Loan Calculator

This isn't your standard phone calculator; it's a digital finance manager at your fingertips without the person or pushy sales tactics of those other places.

* These calculations are for reference purposes only. All figures are estimates only and are not guaranteed as accurate. Always consult a professional financial advisor.

It's more than a calculator

We aren't just talking about a big game with that intro; there actually are crazy benefits to using the FFUN Cars loan calculator. You don't just put in numbers and use plus (+) and minus (-) between them and then press equal (=), you can play around to get a realistic idea of what you can expect from your car loan. There's the option of adding the trade-in value of your vehicle and down payment (if you got one). From there, our little magical digital loan calculator gurus will use the information you provided to show loan terms, including interest rates and payment frequency options. 

Understanding loans

It's more than just punching in some numbers and voila, you have a loan. Take some time to familiarize yourself with how loans and buying a car work. Sure, many of us with a driver's license has purchased a car, but your memory of it may be the cheesy salesperson and hours at a dealership. Nah, not here; we've changed it up a bit, but still want you to understand there's a bit more to it then, POOF, I got a car loan. 

Don't forget about these

As much as we would love to tell you to forget about certain parts that cost more money, we can't. Nothing is free, not even a car loan. There's this lovely thing called interest that must be paid and it's a fee for the cost of borrowing money. Sadly, interest isn't something you pay as a lump sum when you first get a car loan; you pay it every time you have a payment pulled from your bank account. So, the longer the loan repayment plan is, the longer you pay interest. 

Let's not forget about the government's money; that's right, taxes. There may be a way to pay less interest, but there certainly isn't a way to avoid paying sales taxes. As you calculate the total cost of the car, you will see how interest and taxes can (in some cases) significantly increase the amount you are paying for the vehicle. Taxes will vary depending on the province you are in. 

Don't be afraid to have fun

Okay, you caught us. Above we said nothing is free, and we may have told a little fib. Using the FFUN Cars loan calculator is free, so have a little fun with it. Plug in different figures, such as trade-in value and down payment to see the different amounts that come up. Play with some hypothetical situations, but be realistic about it.

The loan calculator is a great budgeting tool. On that note, stay on budget. Before proceeding to inquire about a car loan, do an evaluation of your monthly expenses and income. After that's done, you can do some simple math to know how much you can afford to spend on a car.

In order to stay on budget, factor in incidentals and the cost of ownership. By that we mean, vehicle repairs, maintenance, gas, and insurance costs - this all adds up every month.

Use what you got

If you are wanting the lowest payments, use what you got. What do we mean by that? In the auto loan world, we mean to use your current vehicle as trade value to help lower the total purchase price. Or, if you have some extra cash kicking around, apply it as a down payment. 

We're here for you

We don't expect you to be an auto loan expert, and there's no secret formula to getting it perfect, that's why we're here. If you have questions about auto financing, how to use the loan calculator, or anything else with FFUN Cars, we'd love to chat.