If the interest is more than the rebate, then take the 0% financing. For instance, using our loan calculator, if you buy a $20,000 vehicle at 5% APR for 60 months the monthly payment would be $377.42 and you would pay $2,645.48 in interest.
People also ask, how much is a 10k car payment?
With a three-year $10,000 loan at a 4.5% interest rate, your monthly payments would be $297 per month or more if you include the sales tax in the loan.
Hereof, how much should I put down on a $8000 car?
The vehicle’s price determines how much cash you should put down
| Vehicle Price | 15% Down | 20% Down |
|---|---|---|
| $8,000 | $1,200 | $1,600 |
| $10,000 | $1,500 | $2,000 |
| $12,000 | $1,800 | $2,400 |
| $14,000 | $2,100 | $2,800 |
How much would a 22 000 car payment be?
A representative example of payment terms is as follows: a $1,000 down payment, an Amount Financed of $22,000 with an APR of 10.00%, and a term of 72 months would have a monthly payment of $407.57.
What is the monthly payment on a $30000 loan?
For example, the total interest on a $30,000, 60-month loan at 4% would be $3,150. So, your monthly payment would be $552.50 ($30,000 + $3,150 ÷ 60 = $552.50).
What would payments be on a $20 000 loan?
If you borrow $20,000 at 5.00% for 5 years, your monthly payment will be $377.42. The loan payments won’t change over time. Based on the loan amortization over the repayment period, the proportion of interest paid vs. principal repaid changes each month.