New Car Finance - Math Help?
I am in the process of looking for a new car and I got a quote the other day from a dealer.
£163.21 per month over 60 months which works out at £9792.60
This is on the basis of borrowing £6995 on finance...
I was hoping someone could help me work out the % because £6995 over 60 months is £116.58 per month which means I'm paying £46.63 a month on finance alone.
So can anybody help me with the maths and working out the % of finance?