Monthly Car Payment Calculator
Before taking the financial leap to purchase a new vehicle, you should be sure you understand the monthly payment you can afford each month.
Gulf Winds can give you peace of mind when it comes to affordable auto loans. We offer low auto loan rates and flexible repayment options so you can be sure you're getting the best loan offer on the market.
Discover What You Can Afford
While we've got you covered with competitive car loans, you'll still need to know the total amount you can afford before you walk onto the dealership.
Below, you'll find our monthly car payment calculator. Using this tool, you can calculate your monthly car payments to make sure you're not stretching your budget with your new vehicle purchase.
To estimate a monthly payment, plug in the purchase price of your new vehicle below, along with any other relevant purchase information. Then, you can adjust your loan amount and loan terms to see how much you'll pay per month, given the cost of your car.
Should you get pre-approved before you shop?
When shopping for a car, you can choose one of two routes. You can either get pre-approved for an auto loan through a financial institution, like Gulf Winds, or you can apply for a loan through the dealership. Regardless of the option you choose, it's always best to shop around for the interest rate and loan terms that work best for your financial situation.
Pre-approval from a Lender
To get pre-approved for a loan, you'll need to provide a lender with personal information, such as your Social Security number and salary. The lender will then check your credit score to offer you appropriate loan terms.
There are advantages to getting pre-approved for a loan from a lender before heading to the dealership. With a pre-approved loan, you won't be required to negotiate loan terms, in addition to the sticker price of the car. Arriving at the dealership with your pre-approved loan also turns you into a "cash buyer," giving you a stronger position in which to negotiate.
Ultimately, the loan pre-approval process can ensure you've done your research and help you save money in the long run when you're looking to buy a car.
Securing a Loan from a Dealer
The main advantage of getting a loan from a car dealership is that it's convenient. You're already on the lot picking out the car you want, after all.
However, the main downside to dealership loans is that you could fall prey to dealer markups. Especially if you haven't done your research to find competitive interest rates, you could end up with a higher monthly payment by accepting a dealer's loan. This higher monthly payment could be a result of higher interest rates than those provided by banks, or from charges and fees unrelated to your car purchase.
Get Pre-Approved Today
Gulf Winds makes it easy to budget for your next vehicle purchase and get pre-approval for an auto loan. Once you’ve explored our auto loan calculator and you’re ready to get pre-approved, simply fill out our easy online application to see if you qualify for a low-interest auto loan that fits your budget.