Hey everyone I have a question for you all.

I found a Evo that I want

I have $12,000 saved. Talked them down to $22,000.

So I need a $10,000 loan. I'm looking at a 60 month loan (just so I have extra room) at 7% or so.

According to this loan calculator, with those specifics, payments would be about $200/mo and the total interest payed would be $1,880.

IS this correct?

 

yup

 

Ever use Google before?

 

You have to factor in all the other fees, tax, dmv etc..

 

Damn to get 60 months on a used car at 7% is a good rate.

 

You should be able to do better than 7%. I got a used car loan at 4.99% through a credit union. I would keep looking for a better interest rate.

 

This is true.

 

vehicle price: 22000
tax: 7.5 ( depending on your area as well)
tax amount: $1650 (based on 7.5)
title and registration: $330
cash down: 10,000
market finance rate: 7%
term: 60 months

total amount financed: $13,980
monthly payment: $276.82 (tax included)


and this is done on ERA LINK which we use at dealerships to calculate everything.

 

Thank you all for your great help...I can do this!

Plan on getting the car this weekend!

Took a lot of work, but finally paying off.

Pics coming soon!

Thanks again to everyone in this great community.

 

good luck.. yea bump on that.. you can get lower than 7 percent at through some banks... take ur time... Im doing the same... i just cant find my perfect evo GG 9 SE

 

It's not a SE...but for a 06 GG with 37k miles for only 22k...I cant pass this up.

 

For every $5000 loan on a 60 month with a A credit, you can calculate about $115 per month.

 

Also add a bit more for application fees that dealers add to the financing. It all depends on the dealer. I seen dealer charge as little as $200 to as much as $1000.

Also are you going with the financing that the dealer is getting you or are you getting your own? You have better chances to get a better interest rate if you go to a credit union and get a pre-approved loan than going to the dealer and getting financed through them. The dealer makes money off you interest. Also they are more willing to play with the price of the car when you have money on hand.

 

I will be getting the loan through my bank...I will also check the credit unions.

 

then deal for a out the door price.