Can you show me how car financing calculations are done?
Posted in: car financing | November 27th, 2009
Example: $12,000 car financed at x% interest. Can you show me an actual calculation of how much the monthly payment will be and how many payments are to be made and what the interest is etc, etc?
just google amortization. it is a fairly lengthy calculation on a scientific calculator (at least for me). the 1st site makes it easy. but I’m sure there are others that show you the exact steps by which the calculation is achieved.
November 27th, 2009 at 10:04 am
The dealer will show you and take them home and have a friend that knows mathe sit with you and you ll get what you are looking for
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November 27th, 2009 at 10:13 am
Carmax has a payment calculator on its website but a good rule of thumb is $20 per $1000 financed will give you your monthly payment
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November 27th, 2009 at 10:57 am
just google amortization. it is a fairly lengthy calculation on a scientific calculator (at least for me). the 1st site makes it easy. but I’m sure there are others that show you the exact steps by which the calculation is achieved.
References :
November 27th, 2009 at 11:34 am
How about this 12,000 car financed with poor credit we can get you in this car with 20% interest on a five year car loan. You would end up paying 24,000 for that car. And you forgot tax tittle and license. New car prep and delivery charges. Be very careful financing. And you only thought loan sharks operated out of "louie’s pool hall" Your bank might be able to help calculate payments to years amount financed. I recommend buying a new Nissan Versa they start at 12,000 and because it is new and has warranty.
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Nissan Master Technician