Typing the car insurance you already pay

Use the monthly premium you pay now, or a quote for the car you are buying. The field is a month.

Match the billing period

A policy billed monthly can be typed as the draft. A six-month policy should be divided by six. A yearly policy should be divided by twelve. The field will not convert it.

If the new car will change the premium, use the quote for that car, not the old draft.

One policy, one car

If one policy covers two cars, do not put the whole premium on this car and again on a debt or a second run. Split it in a way you can explain, or put the whole premium here and leave it off the other car.

The calculator stores one car. It will not remember the split for you.

It stays out of APR

Insurance is not a lender fee. Leave it out of the APR. The payment mix should show it as ownership, not as interest.

Gap insurance you finance at the dealer belongs in the amount financed, which means in the price, if it is part of the loan. A monthly insurance draft does not.

This explains how WiseCalculator treats the numbers you type. It is not a lender’s offer and it is not advice for your loan.