i want to buy a vehicle from a private seller but i need 15k and i want to know if the bank would loan me the money and if so around how much will i end up paying the bank back
2007-11-07 05:00:48 · 10 answers · asked by finalmexican 1 in Cars & Transportation ➔ Buying & Selling
If you have the credit, you can apply for a used car loan. Depending on your credit and income, the bank may loan you the money.
How much you'll end up paying the bank back will depend on the interest rate you get and the length of the terms (ie 36 months, 48 months, 60 months)
Most auto loans are calculated using simple interest.
Many financial calculators can be found on the web site to determine your payments and final cost.
Here's one on yahoo:
http://autos.yahoo.com/finance/loan-calc/;_ylt=AlD7xhNaEZk1RL48Y6kCPAB3c78F;_ylv=3
2007-11-07 05:04:23 · answer #1 · answered by hsueh010 7 · 0⤊ 1⤋
1
2016-09-26 06:08:06 · answer #2 · answered by Julia 3 · 0⤊ 0⤋
the bank will loan on a vehicle based on their guidelines. They may not loan you the full 15 thousand, unless the car is worth it, and the banks guidelines allow lending that much on that year vehicle with the miles, etc. How much you end up paying the bank depends on year of the car, interest rate and term of the loan. No way to tell with the information that is missing here.
2007-11-07 05:05:28 · answer #3 · answered by Rafael P 4 · 0⤊ 0⤋
It depends on the loan value of the car and the interest rate you qualify for. Check with the bank and get the true answer rather than a bunch of bad guesses here.
2007-11-07 07:25:37 · answer #4 · answered by Otto 7 · 0⤊ 0⤋
I just bought a car with a loan of $5k.
What will effect the amount you pay back:
Your credit history.
The interest percent.
The time span.
And the monthly payment.
Go and talk to the dealer/bank. They legally have to tell you what you will owe with all that information. You do have the right to look around.
2007-11-07 05:05:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
its no telling what you would end up paying back to the bank that all depends on what state you are in your credit, interest rates and the time period you have to pay it back. I just got approved for a little over 10K for my new car. I would suggest going to your bank to see what they can do for you or apply for a loan and see what interest rate they can get you. Good Luck!!
2007-11-07 05:20:59 · answer #6 · answered by collie-ollie 3 · 0⤊ 0⤋
How's your credit? At what interest rate? Assuming you are a fairly good risk and you require 4 years to pay back, your payment should be in the $ 375. a month range, with interest cost at about $3000. or a total note of $18000.
2007-11-07 06:03:12 · answer #7 · answered by ~ Floridian`` 7 · 0⤊ 0⤋
buy mine...it's cheaper and way better.
it's an 03 toyota prius....36k and good on gas( cos it uses electric too.)
oh, and it looks new inside out....
2007-11-07 12:26:49 · answer #8 · answered by Anonymous · 0⤊ 0⤋
NEED MORE INFORMATION CONCERNING YOU THERE ARE WAY TO MANY VARIABLES.
GO TO THE BANK AND TALK WITH THEM.
2007-11-07 05:41:49 · answer #9 · answered by Anonymous · 0⤊ 2⤋
PROBABLY AROUND $18000
2007-11-07 06:11:20 · answer #10 · answered by Perfectionist 6 · 0⤊ 0⤋