Quote:
Originally Posted by mav1178
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
|
Your numbers are correct, but they are still asking about $5-6000 extra for the car before any APR is added. A 2013 AT w/TRD exhaust shouldn't cost more than $28000 after TT&L because the 14's are out.
His APR should be applied to that number minus whatever down payment, in his example $10k. That leaves $18000 financed @ $428 a month.
Why are they asking over $30k for a 2013 AT w/TRD? This guy needs to make a cash offer to find the price of the car first(+TT&L) then have the APR applied to that. That's how you always do it, price of car first, then calculate the TT&L yourself. The T&L is always going to be around $90-150 total, anything higher is padded, any other tack-ons are bullshit.