Loan Application/Loan Calculator

[yagoparamo]

On a different note, check the laws in your state for these type of calculators. In WA for example you can't give a range of payment, you must tell the customer exactly wat a payment will be to the dollar.

You may have to fine tune it a little bit to your area's rules, but it is definatelly a good thing to have.

 

[kevinfrye]

Two answers to the original question...

YES - you should absolutely have a payment calculator on your website. A quick visit to the Google adwords tool will show you that "payment calculator" is one of the most highly searched terms online.

Common sense - put yourself in the shopper's shoes. Most of them are looking to purchase a vehicle that will fit into their monthly budget, so having an idea of what a monthly payment will be on the vehicle they are interested in is very important to them. The reason they are searching online for "payment calculator" is because they are taking your displayed total price and trying to figure out what that is on a monthly basis.

Driveitnow is a GREAT conversion tool on your site because it is showing an estimated monthly payment for each vehicle immediately for your consumer, as well as a quick pre-approval offer. Plus it passes the "common sense" test, as it is giving the consumer buying information they need quickly and in a simple format.