The TL is going to be the first car that I'm not leasing.

Let's say I get the TL for $34,000 plus 6% tax = 36,000

If I put $6,000 down I would be borrowing $30,000.

I am 25yo and have good credit, I have leased a few cars and currently pay mortgage on a house.

With average interest rates, what would the monthly payment be on a 5 year finance? I am just looking for a ballpark figure, I know it won't be solid.

 

I would say around $600 a month for 60 months.

 

Given a purchase amount of $36,000.00.
A down payment of $6,000.00.
An interest rate of 5.000%,
A term of 5 years.
Your monthly payments will be $566.14.

Payment Schedule for 60 payments of $566.14



in the first paragraph it says loan calculator. click it and try out some figures

http://www.fccuburt.org/FCCUHomeLoans.html

 

Thanks for the quick replies!

So if I got a 5% interest rate I wouldn't be paying much more per month than if I leased the car.

I originally thought it would be $7-800/month atleast.

Under $4,000 in interest over 5 years doesn't sound too bad, I guess it would be better to finance instead of just buying it.

 

it all depends on the interest rate, but if you have good credit, then i wouldn't see a reason for you not getting a rate like 5%. if you wanna play around with interest rates or downpayment, go to the link i posted

 

You should be able to get far better interest rates than that -- a lot of people on here got 3.7 and lower. I got 2.99% through my credit union.