Tips on keeping low monthly payments?

Question

I am willing to buy a new or used car but i want the monthly payment's to be lowest possible...The car could be a $50,000.......

Answer 1

Monthly payments are a function of principle borrowed, interest rate, and number of months financed. In general, the number of months financed will have the larges effect on monthly payments for a given principle amount. Most dealerships will offer you 60 month and 72 month terms, which typically have low monthly payments, but horrible interest rates.