Unhaggle.com, an automotive pricing research and data provider, is now offering a free Monthly Payment Calculator to car shoppers in Canada who wish to know their exact monthly lease or loan payment without doing additional research.
There are similar online calculators, but most only provide estimates based on incomplete data, the Toronto-based company says.
“The majority of lease or finance calculators expect car shoppers to find crucial data like the retail price, incentives and sales tax on their own,” says Radek Garbowski, COO of Unhaggle. “You will be hard-pressed to track down a monthly payment calculator that provides the data and does all the math for you, especially in Canada.”
Consumers need only configure their vehicle by selecting the desired year, brand, model, trim and options on Unhaggle, and then can choose the length of their payment term, size of their down payment and kilometre allowance, if leasing. Based on these parameters, the table will showcase the monthly payment amount, base retail price, cost of options, available incentives, mandatory fees, gross amount and sales tax, if financing.
The unique aspect of the calculator, however, is that it shows the average price, which is the amount other shoppers have paid for the same vehicle in their local market.
“There is a notion that dealers use monthly payments to confuse buyers,” says Garbowski. “With this tool, there should be no confusion.”