What is a monthly car payment chart?


Quick Answer

A monthly car payment chart allows potential car buyers to estimate the cost of monthly car payments on a potential new or used car loan. The chart allows buyers to determine how much they can afford to spend on a car, according to Allstate.

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Full Answer

Monthly car payment charts show monthly loan payments for a range of car prices at various loan rates and loan terms. The information on a monthly car payment chart is for illustrative purposes only, as interest rates change over time and loan terms can vary based upon an individual's specific circumstances, as noted by Bank of America.

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