How much is the tax is that off of the base price?
This is with no money down.
For five years.
Thanks!
$40,000 car.
2007-03-22 08:51:38 · 5 answers · asked by Rachel T. 2 in Business & Finance ➔ Other - Business & Finance
Thanks for nothing you top for. No help at all :(
2007-03-22 09:53:07 · update #1
What's wrong with the calculators?
The only other way to do something like that is to create your own amortization table. You could use a spreadsheet like Excel. But you would have to know all of the formulas.
2007-03-22 08:55:30 · answer #1 · answered by Lisa A 7 · 0⤊ 1⤋
The reason that people use computers to calculate payments on cars and houses is that the math is long and cumbersome.
For 60 months ( assuming 5 years) you have to add interest to the principle then subtract the payment. You have to repeat that over and over 60 times until it gets to 0.
Use the online calculators!
Taxes, tags, and surprise fees are just part of the joy.
2007-03-22 09:05:50 · answer #2 · answered by Dilbert186 2 · 0⤊ 0⤋
First of all unless your filthy rich you won't be walking away with a 40K car without a down payment.. the tax should be about $1360-/+.. and the payments would be at 10% apr.. about $1022.67 per month...
2007-03-22 08:55:08 · answer #3 · answered by chellimerrett 2 · 0⤊ 1⤋
Maybe you should buy a cheaper car.
2007-03-26 08:19:14 · answer #4 · answered by kmf77 3 · 0⤊ 1⤋
My motto is.
If you can't pay cash for it,
you don't need it.
2007-03-22 08:54:51 · answer #5 · answered by Pervtor of Pervatia 4 · 1⤊ 2⤋