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Old 08-23-2016, 09:53 PM   #6
Marshall Placid
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Hello Rucus.

Like lowside67 mentioned, it really, really doesn't add up.

I was already going "huh" 5 seconds into reading your post.

7.18% won't end up costing you half of the cost of the car to cover your interest.

I am estimating, perhaps, 25% to 30% of the car.

Get the firm final price with everything included, and go from there.

Use an easy online calculator:

Car Loan Calculator ~ Auto Loan Payment Calculator

Oh, and 7.18% is a high rate.

If you want to try, you can go to your local bank to get a lower rate around the 4% to 5% range.

If you really want the car, and don't want it to be sold to someone else (while you try a bank), put a deposit on it (and make sure it is refundable), and then try out a bank loan (which sometimes takes up to 4 business days to get approved).
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