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So this is my first time actually going into a dealership and trying to buy a car. I usually pay cash for my vehicles. Well I finally found the car that I have been wanting, a Chevy Malibu, pre owned, Blue on the outside, black on the inside, 2014 with only 42000 miles, so not bad, has all the options that I want. Well the total price of the car is $12000 and they asked me how much I wanted to put down and I told them 4k, leaving only 8k to finance.

So they ran my credit and it wasn't the best, but it was at 623. With the 4k down payment, I got they payments down to 225/mth (they originally wanted 360/month) and the loan is for 60 months. I just got a new job in February so I want to make sure that I can afford this, even if one day for whatever reason I lose my job (I like to think of all scenarios good and bad). Full coverage insurance looks to be about $150 average. If I need to, I can put down 5k, but I would rather not if I can afford it. I do not know if this is correct thinking, but I multiplied 225* 60 months and came out with 13,500 total.

So if I am putting down 4k, and that leaves 8k left, the total amount is 13,500? That just doesn't seem right to me.



Submitted May 05, 2019 at 12:24PM by HumanResources99 http://bit.ly/2V3VhOm

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