How To Calculate Your Vehicles Monthly Payment?

Wanna know a ball-park figure of what your monthly car payment is going to be with only your credit score and your out the door price? We're here to help! We've provided  helpful, color coded formula's and examples to help you along the way!


Here's The Step By Step Process To Calculate Your Monthly Car Payment:

Step 1:   Take The First 3 Digit's From The OTD Price & Multiply Them By 2

Example:
  • OTD Price - $50,000
  • Ex. Formula - 500 x 2 = $1,000

Formula: 
  • OTD Price - $ XX,XXX
  • Your Formula - XXX x 2 = Total

Step 2:  Add Or Subtract Based On Your Credit Score:

Credit Score
Rule
500 - 600Add $50
600 - 700Add $20
700 - 800Subtract $50 - $70
(Use The Rule, Based On Your Credit Score:)

Example:

  • Credit Score:   600 - 700          
  • Ex. Formula:   $1,000 + 20 = $1,020  <---- Ball Park Monthly Payment

Formula: 

  • Credit Score: _______
  • Your Formula: Total (+/-) Your Rule = Your Monthly Payment