Learn and understand the 3 major factors that affect your monthly payment and the total amount you'll spend on your loan. How car loans work Bank of America A lower monthly payment on your car loan doesn't always mean you're saving money. read more
Car loan interest does not work this way. The correct payoff graph actually looks like the following. Notice how the payoff curve is bowed so that it is less steep at the beginning of the loan than at the end. read more
If you've read How Buying a Car Works, you know the car-sales lingo and the ins and outs of negotiating with a seasoned car salesman. read more