Quote:
Originally Posted by wiredgeorge
The current interest on a 7 year car loan is 5 percent or so (I think). Since this is a used truck, guessing it might be a bit higher. Here is what one website said about the loan (7 years @ 5 %) with a $1500 down payment (I based it on $122K)
Loan amount: $120,500.00
Monthly payment: $1,703.14
Sales Tax: $1,220.00
Total Interest: $22,563.43
Total Cost: $145,783.43
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Interest rates are not that high, or else my credit score is the reason but I bought a Cadillac Escalade last month for my wife and the rate was 3.74. Who knows, might have went up since then.