Question about cars?

Question

I have always wanted a car for myself, but medical issues have made my dream complicated.

They're over a thousand disabled people working today, but my health condition is a reasonable reason I am not employed.

I managed to obtain my driver License couple years ago and have been driving my mother's and sister's car. However, It's time for me to have my own ride.

I spoke with Mom recently about finding a job. We contacted a department that train disabled people to work. I am expecting to join that program pretty soon.

My mother said if I am fortunate to work, she does not want me to pay any bills in the house, nothing at all. My sister also agreed with that.

My question is: How much would I need to pay per month on a 2007 BMW 328i coupe?

I plan to work only to pay my car payments.

I'll be putting down $10.00.00 USD on it. And our credit score is 3%

I want you to give me anm answer and also your opinion.
Thanks.

ETC:

And the cost of the car is $40.000.00 USD

Correction: I'll be putting down 10.000.00 dollars

Answer 1

http://www.bankrate.com/gookeyword/mortgage-calculator.asp

I went to the above web site. I went to the loan rate calculator. I typed in 30,000 for a 5 year loan at 6.91 percent. It said the payment was $594 per month.

I may have used an interest rate that was too low.

Good luck.

Answer 2

With a credit score of 3 I doubt you will be getting a loan but depending on your interest rate you can look at over $500 a month for 5 years.

Answer 3

In your situation looking at a BMW 325i is a huge mistake. Purchasing an expensive high performance sport coupe is a foolish proposition. Be more practical.

Answer 4

Given your current financial situation, it would be surprising if you would qualify for a loan of that amount. The monthly payment would be between $600 and $1000.