Car loan. - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
 
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post #1 of 4 (permalink) Old 04-25-2009, 04:00 PM Thread Starter
Moped Rider
 
Join Date: Feb 2009
Location: Iceland
Posts: 48
Car loan.

I was wondering in if you guys in America can take a car loan and how does it work ?. Could i buy Dodge ram srt 10 that would cost me 15000 $ what would i pay per month ? And how loan do you take ? I am just curious because i think it is not the same in America and Iceland.
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post #2 of 4 (permalink) Old 04-25-2009, 08:59 PM
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Re: Car loan.

It depends on the amount of the loan, for 15K you could take out a loan with a payback length of about 60 months maximum(5 years). So compile yearly interest (say 7% per year) onto that and you'll get how much you need to pay per month. You also need to maintain full coverage insurance on the car with most loan companies.
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post #3 of 4 (permalink) Old 04-25-2009, 09:30 PM
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Re: Car loan.

Enter the dollar amount, interest rate, and duration here and it will tell you what you want to know

http://www.bankrate.com/calculators/...alculator.aspx
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post #4 of 4 (permalink) Old 04-25-2009, 11:36 PM
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Location: Florida
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Re: Car loan.

and the rate depends on your credit.. better credit, better rate.

Our bank has loans over $15000 avalaible up to 72 months.. less than 15K and its only up to 60 months.. most banks are like that.



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  FMVperformance.com : The site for all your Ford Mazda and Volvo needs > Misc > Lounge

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