Car payments question?

could anyone help me determine the payments on a car loan if you need to finance $16000 with a 6% loan for 48th months, compounded monthly?

Car payments question?

Your payments should be around $375.76. There is a complete breakdown on how much is paid in interest and how much is paid towards the principal etc. at the website I used as my source.

Car payments question?

This web site will help you calculate the payment I came up with 375.76. Just click the link and it will bring you right to the calculator. http://aol1.bankrate.com/selaol/auto-loa...

Car payments question?

Go to edmunds.com (see link below) for all you ever wanted to know about buying a car, financing, etc.

Car payments question?

This car will depreciate in value LIKE A ROCK!

I recommend that you purchase a 3 - 4 year old used car that has already taken the beating on depreciation!

By paying 6% for 48 months, you will be making the banks richer and you poorer! Don%26#039;t believe me? Look at how tall their buildings are compared to our houses? That is because we have all paid them such an incredible amount of interest.

I stopped playing their game and became debt-free. I have never regretted this decision even though I drive a couple of old beater vehicles!

Car payments question?

If there is no residual value than you will be paying 373.89. This means you are paying for the car outright in 4 years, however, if you are leasing it than there will most likely be a residual value.