What are you paying for your RABBIT

[codemonkey]

how do you calculate how much the financing adds onto the car? I thought you just multiplied the total price by the finance rate but that value seems too low, I think Im missing something here.

 

[Remus6]

Here's a simple loan calculator

http://www.vlender.com/cgi-bin/calc/simple.cgi

 

[absoluteczech]

$20 per $1000 financed. You have to look at the total dollar amount financed, including taxes and registration. Believe me, I do this for a living.

exactly he's putting 5k down so he's gonna finance atleast 10-12k
so do your math 12k = 240 10k= 200 not 150 a month like he's claiming.

 

[DSG_MASTER]

how do you calculate how much the financing adds onto the car? I thought you just multiplied the total price by the finance rate but that value seems too low, I think Im missing something here.

There is a compound interest formula. Here's an example about the amount of interest you pay for the 60 month loan and you get 6.9% rate. Let's say you finance a total of $15000. You are paying about $20/month on every $1000 financed. Thus, your payment is about $300/month on this particular loan. 300x60=18000. 18000-15000=3000. You are paying $3000 dollars in interest if you make 60 payments. I hope this helps.

 

[MichaelThomas]

This car is tearing me a new one. 380 a month, terrible interest rate. I need to refinance through the hospital's credit union. Their employees are well taken care of.

 

[Andaris]

hey dudes i got my rabbit (manual) for 16400 out the door with hubcabs...
not bad including taxes, tags and title.
6000 down 3000 trade in 7.1 apr (thanks mom)
245 a month 36 months not bad!

btw im 18

 

[DSG_MASTER]

hey dudes i got my rabbit (manual) for 16400 out the door with hubcabs...
not bad including taxes, tags and title.
6000 down 3000 trade in 7.1 apr (thanks mom)
245 a month 36 months not bad!

btw im 18

Congrats and enjoy!

 

[A1an]

Purchased mine for $500 under sticker.

DSG_MASTER...noticed your email in your sig. Do you work for United Auto Insurance...or is that for another company?