What are my monthly payments going to be???
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What are my monthly payments going to be???
Hey guys. I'm not quite a G owner yet but hopefully really soon. Right now I have an Acura CL and in a few months it will be paid off : ) I'm hopefully going to sell it for $17,000. I'm no expert when it comes to buying a new so I'm hoping some of you that's been around the block a few times can help. Would they finance a 19 year old with with at least $17,000 to put down and a co-signer? I don't have much credit but my mom has plenty. If they would, what do you think the total price will be after all taxes etc.? Any help will be appreciated. Thanks.
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Re: What are my monthly payments going to be???
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From: San Diego, CA
Re: What are my monthly payments going to be???
With $17,000 down, I doubt you'll need a co-signer, just proof of income.
2003.5 G35 Sedan Desert Platinum/Graphite Premium/Sport/Aero/Nav/Winter
2003.5 G35 Sedan Desert Platinum/Graphite Premium/Sport/Aero/Nav/Winter
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Re: What are my monthly payments going to be???
I'll have to make some assumptions here. I'll assume you want a coupe just like mine 
35,615 for a 6MT with premium and Aero. 5% tax here in MA makes it 37,396. Tack on a couple hundred for silly fees like title and registration and we'll call it 37,600. Minus your 17k down we have 20,600 left to finance. Plug that into any finance calculator online and assume about a 4.9 percent interest rate since you have limited credit.
As a rule of thumb, it will cost a hundred dollars a month for every 5000 you borrow. It's actually a hair less than that now that rates are so low, but you're looking at about 400 a month.
All of the above assumes a 60 month loan. Hope this helps!
35,615 for a 6MT with premium and Aero. 5% tax here in MA makes it 37,396. Tack on a couple hundred for silly fees like title and registration and we'll call it 37,600. Minus your 17k down we have 20,600 left to finance. Plug that into any finance calculator online and assume about a 4.9 percent interest rate since you have limited credit.As a rule of thumb, it will cost a hundred dollars a month for every 5000 you borrow. It's actually a hair less than that now that rates are so low, but you're looking at about 400 a month.
All of the above assumes a 60 month loan. Hope this helps!
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Re: What are my monthly payments going to be???
Rates could come down even lower with the federal reserve leaning toward lowering rates. fyi Vista Credit Union just lowered their rated to 4.49 and AEA CU is 3.99 (4.49 -.25 for direct deposit and -.25 for auto withdraw)
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