what is 1.6% of 35000? what about 1.9%?

Question

we are looking at a new truck. a 2008 toyota tundra. im trying to figure out how much i would pay in interest for a 60 month contract. what about 72 months?

Answer 1

60 months at 1.6% interest on $35,000:
- Monthly payments will be appx. $608
- Total interest over five years will be appx. $1,442

60 months at 1.9% interest on $35,000:
- Monthly payments will be appx. $612
- Total interest over five years will be appx. $1,717

72 months at 1.6% interest on $35,000:
- Monthly payments will be appx. $510
- Total interest over six years will be appx. $1,730

72 months at 1.9% interest on $35,000:
- Monthly payments will be appx. $514
- Total interest over six years will be appx. $2,061

Answer 2

$560 the first year for 1.6%

$665 the first year for 1.9%

For a true comparison plug numbers in here.

http://calculators.aol.com/tools/aol/auto06/tool.fcs

Also you may not qualify for the lowest rate loan, they will hit you after you fall in love with the car and find out it may cost much more in interest. Only the best credit ratings qualify for those LOW low rates.

Answer 3

too many variables......use an auto loan calculator.