REVscene Automotive Forum - View Single Post - Need advice on interest rates buying a used car from dealership

lowside67 · 08-23-2016, 08:44 PM

That math does not add up to me. First of all, you need to know what the actual out the door price of the car today is. That's $16,990 + ??? fees + 12% of the total (including fees) for taxes.

However, when I work backwards the information you are giving me: 7.18%, 5 years of biweekly payments (ie 130 payments), $171.00 a payment, it would work out to you paying $23,655.86 (including your downpayment) today.

I really feel you have fundamentally not copied or not correctly understood what they are offering. Go back, get the exact out the door price, confirm the payment amount, number of payments, and we will calculate the real rate for you.

Mark

08-23-2016, 08:44 PM	#2
lowside67 Old School RS Join Date: May 2004 Location: Port Moody Posts: 4,641 Thanked 4,157 Times in 1,262 Posts Failed 130 Times in 80 Posts	That math does not add up to me. First of all, you need to know what the actual out the door price of the car today is. That's $16,990 + ??? fees + 12% of the total (including fees) for taxes. However, when I work backwards the information you are giving me: 7.18%, 5 years of biweekly payments (ie 130 payments), $171.00 a payment, it would work out to you paying $23,655.86 (including your downpayment) today. I really feel you have fundamentally not copied or not correctly understood what they are offering. Go back, get the exact out the door price, confirm the payment amount, number of payments, and we will calculate the real rate for you. Mark __________________ I'm old now - boring street cars and sweet race cars.