Quote:
Originally Posted by Bumpinjeep
FYI, if you're looking at the payment difference between 5.29% and 6.29%, its not much.
on a $50K loan with a 10% sales tax with a 72 month loan
5.29 = $811.99
6.29 = $835.51
Overall you're looking at a little under $1700 between the 6 years.
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I know some know this, but it's always a great reminder for others...when ONLY seeing rates in conversation, a 1% difference can be alarming.
But when factored into payments (and even total cost different over the length of the loan), not quite as alarming.
That said, I think I got 5.79% last month when I picked up my car. That was at 72 months. (60 months was something like 5.29%).