Is a Vehicle Auto Loan Calculator Accurate?


Quick Answer

Vehicle auto loan calculators are usually accurate as long as consumers enter the exact information required, but most providers warn that the results should only be regarded as an estimate, Bank of America notes. The information required often includes the auto loan amount, the auto loan term in years and the interest rate per year.

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Full Answer

According to the information provided by Bank of America, the figures entered into the calculator on their website are only for hypothetical purposes. The terms and conditions of a loan offered by a financial institution may vary considerably, and this may have a significant impact on the results of vehicle auto loan calculators.

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