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thung_mail
01-21-2010, 09:02 PM
Hi
I just want to know how the dealer calculates the monthy payment accodring to the term+ rate+down payment when we buy a car for example if the car is $30000 (tax included),a term is 36 months and rate is 2% and we make a down payment of $6000
Thanks
PS i did some changes, sorry to make you confused

NateoriouS
01-21-2010, 09:19 PM
I don't understand the question?

europrince
01-21-2010, 09:28 PM
neither do i

NateoriouS
01-21-2010, 09:54 PM
Well, basically... it's $30,0000 - $6,000 = $24,000
Facturing in 2% interest on the 36 month term

is

$687.46 monthly

Hope that helps

2% interest on $24,000 for 36 months is $748.56 (cost of borrowing)

europrince
01-21-2010, 10:05 PM
^ financial calculators are cool, aren't they? :)

NateoriouS
01-22-2010, 12:26 AM
;) ... yes... being at work till 10pm is NOT cool tho.. LOL

BigD
01-22-2010, 12:30 AM
Stay in school, kids.

NateoriouS
01-22-2010, 01:50 AM
??? huh... umm okay!

lvan
01-22-2010, 04:58 AM
that 26k is taxed? No .... should be taxed.

stealer wont let it go for 30k without tax.

damameke
01-22-2010, 01:36 PM
that 26k is taxed? No .... should be taxed.

stealer wont let it go for 30k without tax.

OP posted $30,000 (tax included), so its taxed