Anonymous
Anonymous asked in Cars & TransportationBuying & Selling · 2 years ago

Alright so im looking into buying a car that cost 30,000$ if i put down a 10,000$ Down payment what will interest and all that be?

Attachment image

10 Answers

Relevance
  • 2 years ago

    Interest rate is determined by your credit score not the price of the car.

    A quick calculation will give you a reasonable estimate for your monthly payment.

    Take $25 for every $1000 you borrow to come up with an estimated payment

    So if you put down $10,000 on a $30,000 car you’re financing $20,000.

    $20,000/1000=20

    20x$25 = $500

    Estimated monthly payment is $500

  • 2 years ago

    Man, you could buy that same exact car that is USED and 6 years old for $10,000 total. Seems like a better idea doesn't it?

  • 2 years ago

    We are not psychic. Depends on the vehicle's mileage, your credit, and the bank's loan rates.

  • 2 years ago

    You're supposed to be talking with your bank or credit union to find out what interest rates are!

  • How do you think about the answers? You can sign in to vote the answer.
  • 2 years ago

    That car will cost you $60 000. Do you really want this?

  • nt
    Lv 6
    2 years ago

    You don't qualify, troll. And the dollar sign goes before the number except in 3rd world countries.

    You'd need income of probably $2500+ a month and good credit.

  • Anonymous
    2 years ago

    We cannot tell you. The interest rate will be determined by the finance institution and will be based on your income, your employment stability, your marital status, your outstanding bills and other liabilities, and your credit history. Any other fees will depend on the dealership, the financier, and where the transaction tasks place.

    If physical beauty was directly proportional to intelligence, you'd be uglier than sin. Good luck in life, you'll need a lot of it kid.

  • Anonymous
    2 years ago

    you can't even figure out that the dollar sign is placed before the amount !!!

  • Scott
    Lv 7
    2 years ago

    We wouldn't know. The lender determines the interest rate. By the way, the dollar sign ($) goes before the number, like this: $1,000.

  • 2 years ago

    The interest will be whatever you can qualify for on the balance you have to finance. Got a credit score upwards of 750? Or is it 625? That number determines your interest rate more than anything else. The amount of the down payment has nothing to do with it. Financing through your own bank or credit union will almost always get you a lower rate than letting the dealer arrange something with their own lenders.

    The only way to know for sure is to apply to a financial institution for the amount you have to finance.

Still have questions? Get your answers by asking now.