The Auto Loan Calculator can help negotiate better deals with auto loans by realizing how each option will affect the household budget. The free download will give the user a visual tool to reference and stay focused during auto loan deals. The dealership uses these tools when they try to lock the buyer in based on a payment amount rather than the complete picture. Excel spreadsheets can be difficult to develop, at best time consuming. Utilize this free downloadable Excel spreadsheet that also works with OpenOffice.
The makers of this software, Vertex42, also developed home budget spreadsheets such as the mortgage payment calculator that can compare the mortgage payment calculator for the iPhone, and an the debt reduction calculator.
Manage Household Budgets with a Free Download
With this free downloadable Excel spreadsheet the user can calculate the monthly payment along with the total amount of interest that will be paid over the life of the auto loan. Having this information readily available can help determine how much of a principal amount the consumer can afford at different interest rates. Information can be easily manipulated in the spread sheet to consider different interest rates.
Negotiate a Better Car Deal
When talking to the car salesperson use the numbers generated by the Excel spreadsheet to bargain. Many car lots make money off of the financing program as well as the amount a customer has agreed to pay for a car. Negotiate the car price first, then the interest rate. If the dealer will provide a lower interest rate, the borrower will be able to finance more principal on the car for the same monthly payment amount.
There are many ways to negotiate a good price on a car loan but all of the strategies require the borrower to know the total amount they are willing to spend, the maximum amount of monthly payment they wish to pay, the maximum amount of months they wish to pay on the auto and the
The Basics of Auto Negotiations
The not-so-secret to negotiating a good car deal is to remain neutral about the particular car to be purchased. Don't let the dealer know the car is a "must have." Don't lock into purchasing from a single lot, shop around. Let the dealer know market research will be done before any deal is made. Get a negotiated priced from the dealer. Disagree with the deal, and leave. There will be a phone call on the answering machine when the consumer gets back home. When the dealer wants to know the monthly payment range, do not answer. Remember, even with blemished credit the interest rate can be negotiated down just like the price of the car.
Use the free downloadable Excel Auto Loan Calculator spreadsheet to determine the interest rate and principal amounts the household budget can handle. Don't go above this amount. Following these guides can reduce auto loan debt and help reduce the home budget.
Related Articles: Free Simple Home Budget Software, Debt Reduction Software
Reference: www.cNet.com: Auto Loan Calculator
Jennifer Terry - Jennifer Terry has worked to promote self-determination and consumer education for 10 years. She has been writing since 2004 and has been ...
