All EducationAuto CalculatorsCalculatorsCalculatorsLifestyleLifestyle~Money Articles
Car Payment Calculator: Comparing Monthly Payments
Measure Your Payments By How Long The Term Is
The term of your vehicle loan can make a big difference in your monthly payment. It can also have a significant impact on the amount of interest you will pay over the course of the loan. You pay interest each month on the outstanding balance of the vehicle loan, so the longer the term of the loan the more interest that you will pay until the loan is paid off.