What is the Payment Calculator & How Does it Work?

When its time to think about financing your car from Port Motors, get started with our online finance tools including our trade valuation tool (to get a credit value for your current vehicle), our online finance application (to save yourself time in our office), and our payment calculator to give you a better picture of your budget.

How to Use the Payment Calculator

If you are seeking out financing in the form of a lease or loan, it is important to have a thorough understanding of your own financial situation so that you can find the payment amounts and payment plan that works within what you can afford. To get a feel for this before you come to speak with us, use our online payment calculator at home.

To begin, fill in the price of the vehicle you've been looking at. Then, enter a value for the down payment--this can be as small or large as you realistically think you can afford, though the larger you set it, the smaller your payments will be. Next, you can choose a value for the APR (estimated financing rate). This number is auto filled at 6.9% so if you don't know how to estimate it, simply keep that number and move on. The final entry is the length of term which can range from 12 months to 84 months. The longer the length of term, the smaller the payments, but the shorter the term, the less in overall interest you will pay.

Once all the values are entered, you will see an estimated monthly payment amount and a populated graph to the right that will show variations you can explore. Hit the "reset" button to start from the beginning and change the variables.

Next Steps & Questions?

Now that you have a better idea of what you can afford and where you stand, either move on to the online trade valuation tool and the finance application, come see us in person, or call ahead to set up a one-on-one with a finance expert. 

* These calculations are for reference purposes only. All figures are estimates only and are not guaranteed as accurate. Always consult a professional financial advisor.