Quote:
Originally Posted by MF_DEUCE
Noob question:
Doesnt putting more cash upfront lower the mothly payments?
if so,
then wouldnt it be better to place money versus going with the $0 down?
This will be my first new car purchase, so if someone could explain it as clearly as possible I'd appreciate it.  |
Check this website out:
http://www.bankrate.com/calculators/...alculator.aspx
You can plug in how much you're taking as a loan, the rate, and the term length and then it will calculate your monthly payments and will give you an amortization table so you know what you're paying in interest vs. principal every month.
It's going to be dependent on the person and their financial situation for what they're going to do down payment wise if they're financing. Right now my plan is to go for $0 down, but that may change once purchase time rolls around. Based on the numbers I've played around with $0 down shouldn't be a problem for me but I still have to decide on how long I want to finance for.