Quote:
Originally Posted by Carsten
So I understand the apr but that doesn't explain the extra 10-15k
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You have no understanding of how a loan works.
Go download a loan amortization table and figure it out yourself, because I figured it out for you:
$10k down payment
$23k financed
Total interest will be $9822.86
Total paid will be $42822.86 ($43k)
See attachment.
Edit: I did the numbers for the other scenario too. $29500 financed, $3500 down, monthly payments $607.71, total payments will be $47255.22.... it adds up.
-alex