Reply
New Contributor
mustangy
Posts: 79
Registered: ‎11-06-2012

Auto Loan Calculator Defered

[ Edited ]

its really hard to deal with loaners

mine is commercial Luxury limo services

car is Mercedes s350 bluetec

MSRP       $78614.00

NYS TAX   $6898.37   (%0.08775)

interest rate is %10.5

will pay approx $20 000 down ($4645.00 check loaner ask me its first and last payment 1938x2=3876  and 769.00 bank fee ???? )

total amount will transfer to dealer $70492.00

 

Now total loan is 70492.00 rate is %10.5 and its 4 years Loan

its $1804.83 montly payment  this is the link of calculator  http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx


 creditor give me $1938.00 montly payment **bleep** when ask him he tried to explain with my calculator (2 different loan calculator from android store) doesn't have defferad options nw at home i found out even with deferred payment he is still worng

with 60 days deffer 48 months %10.5 and total loan is $70492.00 its  still1836.25

this is the link defered loan  http://www.globalrph.com/defer.cgi

 

Does any one have some deferred calculator link please

 

Or m i being ripped off ??

my company has 400 owner operator and all goes to same loan company and sales man told me you can check nothing wrong its same for every one and we doing for years but i m still suspicious??

 

 

any pro has calculator for this ? i really confused now!!!

BOFA Master 5k# BOFA Visa 15k flex#Amex BCE 13.5k#chase freedom 5k#capital one $2000 2009#HSBC 1k closed 2009 (those guys kidding with limits)

FICO (lenders pull)scores 739 - 742 - 730 October 2012#length of history from Jan/2008
Business account###Capital one spark 2k
New Contributor
mustangy
Posts: 79
Registered: ‎11-06-2012

Re: Auto Loan Calculator Defered

\\Bumppp

BOFA Master 5k# BOFA Visa 15k flex#Amex BCE 13.5k#chase freedom 5k#capital one $2000 2009#HSBC 1k closed 2009 (those guys kidding with limits)

FICO (lenders pull)scores 739 - 742 - 730 October 2012#length of history from Jan/2008
Business account###Capital one spark 2k
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Auto Loan Calculator Defered

I don't have a link available and am trying to figure out your post....I don't know what the bank fee would be for. I admit I'm way out of the credit loop when it comes to buying a car, but even with subprime lenders, I never had to pay the first or last payment upfront. I had to pay the first 30-60 days after I got the cars. In my subprime days I also had to pay for gap insurance, title, tags, delivery, and so on, and I don't see these costs (I understand they may not be applicable). Could the difference be from that?

 

I definitely study it in detail before signing anything. Your rate really seems high for your scores too. I bet you can get half of that elsewhere.

Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012

Re: Auto Loan Calculator Defered

Why don't you check your state tax. Some of state require you have to pay tax for car payment. 

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
New Contributor
mustangy
Posts: 79
Registered: ‎11-06-2012

Re: Auto Loan Calculator Defered

$70492.00       Total loan amount is

 $1938.00 monthly payments

48   total  number of payments

paid 2 months upfront already

 

what is my real interest rate ?

 

state is new york  already paid 0.0875 state tax $6878.72

 

I got upset on this guy :smileyhappy: he is keep sayng its deferred 2 months bla bla no insurance because my company have full covarage for full price of car and 21.000.000 accident

car is limousine and not many company give loan and this my first loan :smileyhappy:

 

any one can  calculate this rate my calculation is %14.33 loan analyst keep saying %10.50 ?????

BOFA Master 5k# BOFA Visa 15k flex#Amex BCE 13.5k#chase freedom 5k#capital one $2000 2009#HSBC 1k closed 2009 (those guys kidding with limits)

FICO (lenders pull)scores 739 - 742 - 730 October 2012#length of history from Jan/2008
Business account###Capital one spark 2k
New Contributor
mustangy
Posts: 79
Registered: ‎11-06-2012

Re: Auto Loan Calculator Defered

$70492.00       Total loan amount is

 $1938.00 monthly payments

48   total  number of payments

paid 2 months upfront already

 

what is my real interest rate ?

 

state is new york  already paid 0.0875 state tax $6878.72

 

BOFA Master 5k# BOFA Visa 15k flex#Amex BCE 13.5k#chase freedom 5k#capital one $2000 2009#HSBC 1k closed 2009 (those guys kidding with limits)

FICO (lenders pull)scores 739 - 742 - 730 October 2012#length of history from Jan/2008
Business account###Capital one spark 2k
New Contributor
Paperboy999
Posts: 73
Registered: ‎10-06-2012

Re: Auto Loan Calculator Defered

Its right around 9.99. It took 30 seconds to figure out on yahoo
11/09 EX 564
10/12 EX 673 TU 674
1/13 TU 686
2/13 EX 701
Goal 750+
New Contributor
mustangy
Posts: 79
Registered: ‎11-06-2012

Re: Auto Loan Calculator Defered

Thanks paperboy but i tried 20 differant calculator none of them goes 1938 a month

my calculation is comes 1804$ the link you provided

http://autos.yahoo.com/car-finance/monthly-loan-calculator.html

 

car actually                   $78.115

tax is (% 8.875)           $6.835

down is                         $20.000   
financer is accept      $4654.00  ($1938x2=3876 first and last payment and $778 for bank fee)

down paid to dealer  $15000 

 

or in short

 

total principle loan     $70490

montly payment           $1938  x 48   (2 months paid up front first and last payment )

and seller said rates is %10.5  (high because car registered commercial limo)

 

 

 

BOFA Master 5k# BOFA Visa 15k flex#Amex BCE 13.5k#chase freedom 5k#capital one $2000 2009#HSBC 1k closed 2009 (those guys kidding with limits)

FICO (lenders pull)scores 739 - 742 - 730 October 2012#length of history from Jan/2008
Business account###Capital one spark 2k

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+