Rule of Thumb for Car Loan?

[sahunt66]

Does anyone know a good rule of thumb for estimating the monthly payment on a car loan given pruchase price, loan length and interest?

I can calculate this easy with a spreadsheet but I'd like to have something I can use on the fly while out shopping.

Thanks.

[Bambikiller240]

Try a Google search on the term "Loan Calculator". I think you'll find a ton of them.

Oh, and the Vehicle section of eBay used to have one too.

[EScanlon]

New car loans, I guesstimate about $17 per hundred borrowed. Not a hard fast accurate rule, but close enough to know when something is way out of budget.

Used Car loans, now you're having to determine the length of loan and other stuff. 5 year loan and you can use the above formula. 2 years and I use $5 per hundred IF the loan would be through a bank.

These "Rules of Thumb" are just MY Thumb Rule. Adjust to your needs as you see fit.

Enrique