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Auto Loan Payments

Often people take out a three-, four-, or five-year loan to pay for their vehicle. Remember that this is a long-term commitment between you and the bank. If you lose your job or other family income sources, a monthly car payment could negatively impact your remaining financial commitments. Your monthly payment is dependent on the amount you financed, duration of the loan, and interest rate. Use a free online loan calculator to simplify the calculation.