Monthly payments?
Jul 7, 2008 | 01:58 PM
#31
Evolved Member
Joined: Jan 2007
Posts: 671
Likes: 0
From: Dallas / Fort Worth
Too many variables. Here's a great auto loan calculator. https://secure.lendingtree.com/cec/t...s/AutoLoan.asp
You can put in trade-in value, purchase price, down payment, terms, interest rate, and tax rate, and it will figure it all out for you.
For example..
Trade in a car with a trade-in value of $10,000 and you still owe $12,000 and you want to buy a car at $33,000 before tax and you put $5,000 down. Figure 6% interest and 8.5% taxes for 62 months and your payment is.... dun dun duuuun...
$601 a month.
Put in your figures and see what you get.
You can put in trade-in value, purchase price, down payment, terms, interest rate, and tax rate, and it will figure it all out for you.
For example..
Trade in a car with a trade-in value of $10,000 and you still owe $12,000 and you want to buy a car at $33,000 before tax and you put $5,000 down. Figure 6% interest and 8.5% taxes for 62 months and your payment is.... dun dun duuuun...
$601 a month.
Put in your figures and see what you get.
Jul 8, 2008 | 01:47 AM
#35
Newbie
Joined: Mar 2008
Posts: 15
Likes: 0
From: Texas
530/mo $1500 down insurence is 160/mo and im 22 and married...
i would go c what you can qualify for first and c what intrest rates they give. then call a couple insurence companies to to see how much insurence would be that wold be your best bet.
Jul 8, 2008 | 11:42 PM
#39
Newbie
Joined: Jul 2008
Posts: 2
Likes: 0
From: San Diego
Ok Bud, here is a quick (maybe not) answer and a quick suggestion. I by no means am the best financial advisor but thats what I do for a living (right now im in iraq, yep im also a Marine). Anyways.
Solution 1: If you owe the bank more than you can sell your car for, then you can give it in trade in BUT! They will give you about 50% or Blue book value (dealer that is)for your car. Example, My wife had an 07 explorer, the top of the line $38,000, delaer offered $15,000. Yep, tuff, so that means that when you get financed, the company who takes you will pay off the other bank what you owe, and add it to your balance of the loan for your new car, which will affect the APR. thus making your monthly payments higher.
Rule number one: When you buy a car, negotiate the price , the whole sale price of the vehicle, and dont worry much about the monthly, if you have to, then wait till you afford it (depends on your situation not meaning you cant) because maybe you dont or you do. Lower payments just mean either one: you have a great credit score and only that way you can manage to do it, or two: you've stretched your payments over a longer term (above 60 months) and will end up paying thousands for a car due to APR charges.
so, best bet, try to find someone who will pay private party sale value, or what you are asking for. BUT you wont get as much as your loan balance.
The new Evo starts at $33,000, so unless you give a super down payment, like $15000 or around, and score a good APR on a loan, 2.4-4.5% or a bit higher, then your never gonna have a $200 monthly payment. And dont evr go into the Dealer and tell the sales guy that your looking for a monthly of XXX, they will hook on that and get you.
New evo: $33000
Down payment $15000
Loan Balance: $15000
APR: 4.5% (unless you have a credit score of 690-700+ you wont likely get this low)
15,000 X .045= $675
$675 (APR) times length of loan maybe 5 yrs (60 months) = $3,375
loan balance $15000+APR over 5 yrs=$18,375.00
Total loan: $18,375 / 60 months (loan term)=$306.00 monthly payment
Of course if you pay a higher monthly amount than required, the less you pay overall. My .02 cents, sorry if i bored you, but trying to help you out man.
and no, im not that old, im 28
Hope this helps you out make a decision, good luck and hopefully there be another Evo on the streets!
Carlos
Last edited by LOSEVOX; Jul 8, 2008 at 11:50 PM.
Jul 9, 2008 | 12:03 AM
#41
Newbie
Joined: Jul 2008
Posts: 2
Likes: 0
From: San Diego
Too many variables. Here's a great auto loan calculator. https://secure.lendingtree.com/cec/t...s/AutoLoan.asp
You can put in trade-in value, purchase price, down payment, terms, interest rate, and tax rate, and it will figure it all out for you.
For example..
Trade in a car with a trade-in value of $10,000 and you still owe $12,000 and you want to buy a car at $33,000 before tax and you put $5,000 down. Figure 6% interest and 8.5% taxes for 62 months and your payment is.... dun dun duuuun...
$601 a month.
Put in your figures and see what you get.
You can put in trade-in value, purchase price, down payment, terms, interest rate, and tax rate, and it will figure it all out for you.
For example..
Trade in a car with a trade-in value of $10,000 and you still owe $12,000 and you want to buy a car at $33,000 before tax and you put $5,000 down. Figure 6% interest and 8.5% taxes for 62 months and your payment is.... dun dun duuuun...
$601 a month.
Put in your figures and see what you get.
the DUN DUN DUN was the best!
good advise!
Jul 9, 2008 | 12:19 AM
#42
Newbie
Joined: Jul 2008
Posts: 2
Likes: 0
From: San Diego
Too many variables. Here's a great auto loan calculator. https://secure.lendingtree.com/cec/t...s/AutoLoan.asp
You can put in trade-in value, purchase price, down payment, terms, interest rate, and tax rate, and it will figure it all out for you.
For example..
Trade in a car with a trade-in value of $10,000 and you still owe $12,000 and you want to buy a car at $33,000 before tax and you put $5,000 down. Figure 6% interest and 8.5% taxes for 62 months and your payment is.... dun dun duuuun...
$601 a month.
Put in your figures and see what you get.
You can put in trade-in value, purchase price, down payment, terms, interest rate, and tax rate, and it will figure it all out for you.
For example..
Trade in a car with a trade-in value of $10,000 and you still owe $12,000 and you want to buy a car at $33,000 before tax and you put $5,000 down. Figure 6% interest and 8.5% taxes for 62 months and your payment is.... dun dun duuuun...
$601 a month.
Put in your figures and see what you get.
the DUN DUN DUN was the best! good advise!
Jul 9, 2008 | 12:37 AM
#43
Newbie
Joined: Jul 2008
Posts: 2
Likes: 0
From: San Diego
Too many variables. Here's a great auto loan calculator. https://secure.lendingtree.com/cec/t...s/AutoLoan.asp
You can put in trade-in value, purchase price, down payment, terms, interest rate, and tax rate, and it will figure it all out for you.
For example..
Trade in a car with a trade-in value of $10,000 and you still owe $12,000 and you want to buy a car at $33,000 before tax and you put $5,000 down. Figure 6% interest and 8.5% taxes for 62 months and your payment is.... dun dun duuuun...
$601 a month.
Put in your figures and see what you get.
You can put in trade-in value, purchase price, down payment, terms, interest rate, and tax rate, and it will figure it all out for you.
For example..
Trade in a car with a trade-in value of $10,000 and you still owe $12,000 and you want to buy a car at $33,000 before tax and you put $5,000 down. Figure 6% interest and 8.5% taxes for 62 months and your payment is.... dun dun duuuun...
$601 a month.
Put in your figures and see what you get.
the DUN DUN DUN was the best! good advise!
Jul 9, 2008 | 12:43 AM
#44
Threads like this are pointless....
Figure out the most you can pay a month, add the estimated interest based on your credit and deals that are happening, 0-15% then decide if the total months are really worth it..
I don't like having more than a 60 month term personally, interest usually get ridiculous after that.
Cheers!
Figure out the most you can pay a month, add the estimated interest based on your credit and deals that are happening, 0-15% then decide if the total months are really worth it..
I don't like having more than a 60 month term personally, interest usually get ridiculous after that.
Cheers!
Jul 9, 2008 | 07:17 AM
#45
