How Arvest Bank’s Loan Calculators Help You Plan Your Next Car Purchase
For many, driving is a necessity to complete all the errands demanded of a busy, modern lifestyle; however, purchasing a new vehicle can involve as many wants as needs to satisfy all the requirements of a savvy car buyer.
Drivers are afforded plenty of space on the roads in Kansas City, Mo., which led Forbes to list it in the top 10 best cities for commuters. In fact, Forbes reported the typical Kansas City driver spends about 17 hours a year in traffic, a mere hiccup compared to the 54 hours Detroit commuters spend delayed in traffic each year.
Closing the gap between the car you want and the car you can afford is easier than you might think thanks to Arvest Bank’s competitive interest rates and online resources that free drivers from any guesswork.
Drivers Budget for Best Deal With Auto Loan Calculators
Arvest provides 35 online calculators for retirement, investments, personal financing, and home financing that are available to anyone who wants to accurately determine how to budget, invest money, or get the best deal on an auto loan.
The loan rate calculator will determine the best interest rate on an auto loan when borrowers input the desired loan total, monthly payment and loan term. For example, if an expected loan amount is $25,000 over a five year term with $5,000 as the best-case scenario down payment, then monthly payments of $400 will give the borrower a 7.51% APR.
Another calculator estimates the largest auto loan you can finance according to the highest monthly payment, down payment, trade-in value, interest rate and loan term. Monthly or down payments can be adjusted to best gauge what type of car you can purchase without putting a strain on your budget.
The calculators are designed to produce estimates, so applicants should speak to a loan specialist in the Kansas City area for actual figures. Drivers can also apply online for a free rate quote that is individualized by the make and model of the vehicle, location and intended use.
Arvest Bank Simplifies Auto Loans in Kansas City
Car buyers are able to then apply online for an auto through Arvest Bank for a new car purchase or to refinance. Arvest Bank representatives can walk new drivers through extended warranty or additional insurance coverage options available for a one-stop shopping experience.
Photo credit: Keith