Monthly Car Payment Calculator

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Disclaimer:

All advertised prices exclude government fees and taxes, any finance charges, any dealer document processing charge, any electronic filing charge, and any emission testing charge.

While great effort is made to ensure the accuracy of the information on this site, errors do occur so please verify information with a customer service rep. This is easily done by calling us at 618-249-3841 or by visiting us at the dealership.

**With approved credit. Terms may vary. Monthly payments are only estimates derived from the vehicle price with a 72 month term, 5.9% interest and 20% downpayment.

Must finance with VCI to qualify for the advertised price.

Buying a car and financing the purchase requires careful consideration and budgeting to make sure you can afford the payments. At Volkswagen of Marion, we understand the needs of our customers when it comes to buying a car that’s affordable for them. In order to help customers make a decision, we have an auto loan online calculator on our website for you to test various payment options and find a monthly payment that’s comfortable for you.

How to use our monthly car payment calculator

The auto loan online calculator is a straightforward calculator that asks for specific inputs and values to quickly help you figure out your loan payment number. You need to enter in a down payment amount, the estimated trade-in value of your car, the loan term, the interest rate you expect, and the amount you’re financing. Once all the inputs are in the fields, click the “calculate payments” button and look at the “payment details” box below. You’ll get a straightforward result that tells you what your estimated payment will be for the car you want. Here’s how to use the inputs on the calculator:

Down Payment

Enter the amount you have for a down payment or an amount you intend to have in hand when you purchase your Volkswagen.

Trade-In Value

Are you trading in an existing car? The actual amount you receive as a trade-in value depends on what the estimator feels your car is worth, but you can get an idea by looking at similar cars for sale online or using our trade-in value tool. Use the average value you find and enter it into the box.

Interest Rate

The interest rate you’re offered depends on your credit score, but start in the middle of the range to get an idea of the monthly payment.

Loan Term

The length of the loan term plays a role in how much you pay every month. The longest loan available is 72 months or six years, but make sure to select shorter repayment terms to see the difference in payments over time.

Amount Financed

The amount you finance depends on your down payment amount and trade-in value. You can start the calculator by inputting the total amount of the car and nothing else. That helps you get an idea of how much to put down and the benefit of trading in your current car to get to an estimated monthly payment amount.

Benefits of putting a down payment on a new Volkswagen

A down payment goes directly towards reducing the amount of principal you have to finance in order to drive away with a new Volkswagen from VW of Marion. It’s also showing the lender that you’re willing to put your own money into the car and borrow less. The more money you can put into a down payment, the better interest rate and terms for financing you’ll receive, even if your credit isn’t that great.

The amount you put down on a car is entirely dependent on your personal finances, but it’s advisable to put down as much as you possibly can. You wind up saving money over time in the form of paying less in interest because you financed less of the car. Put enough money down at the start of your ownership of the car, and you may wind up saving more than you put down.

How your credit score affects your interest rate

The strength of your credit score has a direct effect on the amount of interest you’ll pay over the life of the loan. The better your score, the less interest you’re likely to pay. Lenders reward borrowers for sticking to their contractual obligation to repay any type of debt in the form of a positive credit report. You’re demonstrating to lenders and creditors that you’re worthy of their consideration for lending. Having few or no negative marks on your credit report results in a good to excellent credit score that gives you access to better loan products and lower interest rates.

Loan term affects your payments

The longer the loan, the lower your monthly payment. A lower monthly payment is nice, but it can also add to the cost of the car in the form of paying more interest. It’s a trade-off that you have to take into consideration when making the decision about how much car you can afford.

Trading in your old car

There’s value in your old car even if you don’t recognize it. It’s true that cars depreciate over time in a normal market, but at a certain point, that depreciation slows down. Your car holds onto an equity value that can be used towards the purchase of a new car.

It’s true that there are multiple variables that affect the equity in your car, but if your car is in good condition, you can get a reasonable trade-in amount towards a new Volkswagen. A car with almost perfect body condition, low miles, regular maintenance, and a clean interior can result in a nice trade-in value. If you’re not sure about the value of your used car for the car payment calculator for Volkswagen, check your trade-in value using our online tool.

Check out our online calculator at VW of Marion and find out what you’ll pay monthly for your dream car. Contact us with any questions you might have and let us help you get into a new car so you can hit the road in Marion, Illinois.