Car Payment Calculator app review: quickly calculate your monthly payments on a car and learn related terms

Introduction

This is a very handy car buying app for those of you who are looking to get a new car, with perhaps the most comprehensive set of tools seen in a repayment calculator app. Loans, leases, state tax rates, a glossary of terms, and much more are included in this invaluable resource.

I’ve reviewed a fair few apps which are aimed at helping you calculate repayments, discounts, taxes, and so on. I’m pretty sure that Car Payment Calculator offers more functionality than any other app of its kind that I’ve come across, and the content is presented in a wonderfully clear and concise manner.

 

Can You Afford It?

I am very impressed with the amount of detail the developer has included in this app. Before you use the calculator, I’d recommend checking out the Glossary section as this will help to fill in any gaps in your knowledge and understanding of some of the terminology used.

The calculator enables you to create multiple Scenarios and save them for future reference. When you begin using the calculator, you’ll be presented with a few fields to fill in, including the state you live in, the Sales Price of the vehicle, and figures such as any rebates, down payments, and trade-ins which may affect the price of the vehicle.

Every state tax rate is included in Car Payment Calculator so it will automatically calculate both the percentage applied and the actual amount of tax applied to your purchase in dollars.

Leases and Loans

When you come down to Financing, you can choose between a Lease and a Loan, and this will change the input fields appropriately.

Here is where you can input data such as the Lease or Loan Term, Loan Rate (APR), Acquisition Fee, and a few other details. Finally, you’ll be presented with the Monthly Lease or Loan Payment, and the total Lease Cost or Total Borrowed.

It may sound like there is a lot of information to input but it really takes no more than a minute or two, and having these figures in black and white will make it far easier to budget for your monthly payments and actually figure out whether or not a vehicle is going to be affordable to you.

Pros and Cons

Pros

• Full glossary of terms
• State tax rates included
• Leases and loans supported
• Easily calculate your monthly payments and total costs within a couple of minutes

Cons

• There is nothing negative to say about this app

Final Words

I really wish I had this app when I bought my car a few years ago because it would have saved me a great deal of time scrawling down notes and calculations!

I like Car Payment Calculator as it really goes above and beyond what similar apps are offering, and the interface is very simple with a basic design, so you can quickly calculate payments without being held up by clutter or lag.

This is a great app and it definitely receives a strong recommendation from me.