Car Finance Question - TriStateTuners.com :: Home of Tristate Auto Enthusiast

Kerplunk105 · 07-30-2006, 09:58 PM

Okay. My Mom owes $28,000 on her current car. She wants to get a new car that's $22,000. Her current car is worth $14,000 according to KBB.

She only wants to put down $1,000 on the new car. Her current monthly payment is $538.

So...any idea on what her monthy payments may be-say 72 months at say 8% interest?

Thanks

bastid · 07-30-2006, 10:26 PM

I didn't calculate it to 100% accuracy, but she wouldn't be paying much more than she's paying now.

Edit: Using a car payment calc online - $613.66/mo.

Enjoy

Kerplunk105 · 07-30-2006, 10:30 PM

Thanks!!

Do you have a link to the page you used?

**Ender81** · 07-30-2006, 10:49 PM

Just throw "auto loan calculator" into google and a few will pop up, Bankrate.com I think is the one I use the most

Kerplunk105 · 07-30-2006, 10:51 PM

I've done those before. I was trying to find one that would take into account the previous owed car balance?

gary · 07-30-2006, 11:21 PM

Delete... what I wrote made no sence. I'm too tired to even try again.

bastid · 07-30-2006, 11:48 PM

Quote:

Originally Posted by Kerplunk105

I've done those before. I was trying to find one that would take into account the previous owed car balance?

Find the balance of the amount owed less trade in ($28,000 - $14,000), and apply it toward the MSRP of the new car ($22,000). I entered $36,000 as the price, $1k down, and 8% over 72 months.

Kerplunk105 · 07-30-2006, 11:54 PM

wow! I see! Thanks!!

07-30-2006, 09:58 PM	#1
Kerplunk105 Tri-State Post Whore Join Date: May 2006 Location: Langhorne, PA Member #1967 My Ride: 2007 Subaru Impreza iTrader: (2)	Car Finance Question Okay. My Mom owes $28,000 on her current car. She wants to get a new car that's $22,000. Her current car is worth $14,000 according to KBB. She only wants to put down $1,000 on the new car. Her current monthly payment is $538. So...any idea on what her monthy payments may be-say 72 months at say 8% interest? Thanks __________________ ~Elizabeth~

07-30-2006, 10:26 PM	#2
bastid Tri-State Addict Join Date: Apr 2006 Member #1732 My Ride: 2008 BMW M3 iTrader: (0)	I didn't calculate it to 100% accuracy, but she wouldn't be paying much more than she's paying now. Edit: Using a car payment calc online - $613.66/mo. Enjoy __________________ *2008 BMW ///M3 Coupe: Alpine White on Extended Fox Red Novillo Leather Factory Options:* Premium Package : M-DCT : 19" Alloys : Technology Package : Bi-Xenon : Heated Seats : EDC : Premium Audio : iPod/USB Adapter Modifications: APE Performance S65B40 Air Filter : Fabspeed X-pipe : Remus Race Muffler

07-30-2006, 10:30 PM	#3
Kerplunk105 Tri-State Post Whore Join Date: May 2006 Location: Langhorne, PA Member #1967 My Ride: 2007 Subaru Impreza iTrader: (2)	Thanks!! Do you have a link to the page you used? __________________ ~Elizabeth~

07-30-2006, 10:51 PM	#5
Kerplunk105 Tri-State Post Whore Join Date: May 2006 Location: Langhorne, PA Member #1967 My Ride: 2007 Subaru Impreza iTrader: (2)	I've done those before. I was trying to find one that would take into account the previous owed car balance? __________________ ~Elizabeth~

07-30-2006, 11:21 PM	#6
gary Tri-State Post Whore Join Date: Mar 2006 Location: Northampton, PA Member #1638 My Ride: 2004 Hyundai Tiburon iTrader: (1)	Delete... what I wrote made no sence. I'm too tired to even try again. Last edited by gary; 07-30-2006 at 11:34 PM.

07-30-2006, 11:54 PM	#8
Kerplunk105 Tri-State Post Whore Join Date: May 2006 Location: Langhorne, PA Member #1967 My Ride: 2007 Subaru Impreza iTrader: (2)	wow! I see! Thanks!! __________________ ~Elizabeth~

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