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Automobile loans

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How long are car loans?

The typical car loan term is between 3 and 5 years, but you may be able to find a loan with a shorter or longer term. It is important to choose a car loan that fits your financial situation, as…

How to calculate car loans?

When you are calculating a car loan, there are two things you need to know: the purchase price of the car and the interest rate. To calculate the monthly payments, you will need to use this formula: Monthly Payment =…

How do car loans work?

When you take out a car loan against a vehicle purchase, you’ll usually set up an agreement to pay back the cost of the car to the seller over a period of time. The car loan will have a set…